notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
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CWT Limited<br />
KEY<br />
HIGHLIGHTS OF THE YEAR<br />
“The CWT Group notched several awards in 2011. They included:<br />
Forbes Asia’s Best Under A Billion, Frost & Sullivan’s 2011<br />
Domestic Logistics Service Provider, MINDEF’s Minister for<br />
Defence Award...”<br />
Commodity supply chain manager<br />
CWT added commodity marketing and supply<br />
chain management capabilities with <strong>the</strong> acquisition<br />
of MRI Trading AG in July 2011. MRI markets nonferrous<br />
base metal concentrates and coal products<br />
and manages <strong>the</strong> supply chain of such products<br />
from source <strong>to</strong> destinations.<br />
Commodity logistics service provider<br />
CWT also expanded its commodity logistics<br />
operations network <strong>to</strong> South Africa and Latin<br />
America. In February 2011, CWT executed <strong>the</strong><br />
maiden delivery of London Metal Exchange (LME)<br />
steel billet in<strong>to</strong> US s<strong>to</strong>rage facilities, <strong>the</strong>reby<br />
gaining first mover advantage and access <strong>to</strong> <strong>the</strong><br />
booming LME steel billet contract market in US<br />
and worldwide.<br />
Global ocean freight LCL consolida<strong>to</strong>r<br />
CWT’s freight logistics arm CWT Globelink<br />
expanded its global network <strong>to</strong> 102 offices in 26<br />
countries. It added offices in <strong>the</strong> United Kingdom<br />
(UK), Turkey and Bulgaria as part of its expansion<br />
strategy <strong>to</strong> increase its service coverage in<br />
Europe. CWT Globelink also set up offices in<br />
Costa Rica and Guatemala <strong>to</strong> tap in<strong>to</strong> <strong>the</strong> Latin<br />
America market. In 2011, it entered in<strong>to</strong> various<br />
new commercial relationships which fur<strong>the</strong>r<br />
streng<strong>the</strong>ned its market position.<br />
Packaging and distribution hub manager<br />
CWT handled a significantly higher volume of<br />
polyolefin resin for Borouge in 2011, in line with<br />
Borouge’s expanded plant production in Ruwais,<br />
Abu Dhabi. CWT continues <strong>to</strong> focus on delivering<br />
a hub platform that brings products <strong>to</strong> Borouge’s<br />
cus<strong>to</strong>mers in Asia in a timely manner, greatly<br />
improving <strong>the</strong>ir cus<strong>to</strong>mers’ satisfaction and market<br />
share growth in <strong>the</strong> Asia region.