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cicada design pte ltdtelephone :: (65) 6338 4988fax :: (65) 6338 8176email :: [email protected] :: 237B East Coast Road Singapore 428930

ANNUAL REPORT 2007/08

grandeurdefining

200 Cantonment Road #09-01Southpoint, Singapore 089763

Tel: (65) 6236-6888 Fax: (65) 6236-6250www.stamfordland.com

Company Registration No.: 197701615H

ANN

UAL R

EPORT

2007/08

StamfordCover_FA.indd 1 7/2/08 6:08:58 PM

The Stamford Residences, Stamford Plaza Auckland

Artist’s Impression

Stamford Plaza Auckland

The Stamford Marque Sydney

Definingelegance


The Stamford Residences, Stamford Plaza Auckland

Artist’s Impression

Stamford Plaza Auckland

The Stamford Marque Sydney

Definingelegance


Client: Stamford Land Corporation Ltd

Work Done:Annual Report

Client: SIng Holdings Pte Ltd


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Stamford Plaza Brisbane

Chairman’s Message 2Board of Directors 8Corporate Information 10Corporate Structure 11Five-Year Group Financial Summary 12Operations Review 14Hotel Portfolio 20Shareholder Calendar 24Corporate Governance Statement 25Property Portfolio of the Stamford Land Group 36

Financial Statements Directors’ Report 40Directors’ Statement 43Auditors’ Report 44Consolidated Income Statement 46Balance Sheets 47Statements of Changes in Equity 49Consolidated Cash Flow Statement 51Notes to Financial Statements 53

Shareholdings Statistics 101Notice of Annual General Meeting and Books Closure 103Proxy

Contents

Definingelegance

StamfordExtent_FA copy.indd 1 7/2/08 6:10:20 PM

Chairman’s Message

Defining lifestyleStamford Land Corporation achieved creditable results with net profits rising by 28.7% to $42.9 million from $33.4 million in the previous financial year. This is due mainly to the enhanced performance of our hotel segment that saw higher occupancy and room rates. Revenue per available room for the Group’s eight hotels posted a healthy 6.7% increase.

A strong Australian economy and the continued boom in the resources sector boosted demand for hotel accommodation. Riding on this positive trend, our hotel segment’s operating profits rose significantly by 41.5% to $46.8 million and revenue increased by 17% to $232.2 million.

Group revenue, however, saw a 7.3% decrease from $298.0 million to $276.1 million due to significantly reduced contributions from our property segment whereby the sale of a few remaining apartments in Stamford Marque were recognised as it was mostly sold out in FY2006/07.

Our other major property developments are still under construction and revenue from pre-sold apartments are not recognised under Australia’s accounting regulations.

In view of our good performance, the Board is recommending a tax-exempt one-tier Final Dividend and Special Dividend of 1.5 cents per share and 1.0 cent per share respectively, with total payout amounting to about $21.6 million. This is on top of the Interim Dividend of 1.5 cents per share that was paid out in March this year.

THRIVING HOTEL BUSINESS

Our successful hotel business accounts for 93.4% of Group operating profits. We are the largest independent owner and operator of luxury hotels in Australasia and take great pride in the Stamford brand’s hallmark of excellence. All our eight hotels offer superior locations in gateway cities, first-class facilities and outstanding service.

Stamford Plaza Melbourne

Stamford Grand North Ryde

Stamford Plaza Adelaide

Stamford Land Corporation Ltd ANNUAL REPORT 2007/082


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STAMFORD PLAZA

Lower Albert Street, Auckland, New ZealandPhone : (64 9) 309 8888Facsimile : (64 9) 379 6445Email : reservations@spak. stamford.com.au

STAMFORD PLAZA

150, North Terrace, Adelaide, South Australia 5000Phone : (61 8) 8461 1111Facsimile : (61 8) 8231 7572Email : reservations@spa. stamford.com.au

STAMFORD PLAZA

Corner Edward & Margaret Streets, Brisbane, Queensland 4000Phone : (61 7) 3221 1999Facsimile : (61 7) 3221 6895Email : reservations@spb. stamford.com.au

Hotel Portfolio

Auckland

AdelaideBrisbane

Stamford Land Corporation Ltd ANNUAL REPORT 2007/0820


Adelaide

Melbourne

Brisbane

Sydney

Auckland

Perth

STAMFORD PLAZA

111 Little Collins Street, Melbourne Victoria 3000Phone : (61 3) 9659 1000Facsimile : (61 3) 9659 0999Email : reservations@spm. stamford.com.au

Melbourne

STAMFORD GRAND

2 Jetty Road, Glenelg, South Australia 5045Phone : (61 8) 8376 1222Facsimile : (61 8) 8376 1111Email : reservations@sga. stamford.com.au

Adelaide

SIR STAMFORD AT

93 Macquarie Street, Sydney, New South Wales 2000Phone : (61 2) 9252 4600Facsimile : (61 2) 9252 4286Email : reservations@sscq. stamford.com.au

Circular Quay

Legend: Hotel Property development

Stamford Land Corporation Ltd ANNUAL REPORT 2007/08 21


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Client: Asia Enterprises Holding Ltd


Client: Rotary Engineering Limited

Work Scope:Annual Report

Client: CathayOrganisationHoldings Ltd


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Client: Hwa Hong Holdings Ltd

Work Done:Annual Rerport

38 South Bridge Road Singapore 058672website: www.hwahongcorp.com

Company Registration No. 195200130C

HWA HONG CORPORATION LIMITED

Annual Report

2007

HWA HONG CORPORATION LIMITED

HW

A H

ON

G C

ORPO

RATIO

N LIM

ITEDA

nnual Re

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2 Corporate Information

3 Financial Calendar

4 Chairman’s Letter to Shareholders

8 Five Year Group Financial Profile

9 Board of Directors

11 Key Executives

13 Corporate Governance Report

22 Risk Management and

Control Environment

23 Directors’ Report

26 Statement by Directors

27 Independent Auditors’ Report

29 Consolidated Profit and

Loss Accounts

30 Balance Sheets

32 Consolidated Statement of

Changes in Equity

37 Consolidated Cash Flow Statement

39 Notes to the Financial Statements

100 Shareholding Statistics

102 Notice of Annual General Meeting

Proxy Form

Table of Contents

The Bridge, Clerkenwell Road

HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 1

AUDIT AND RISK COMMITTEE

Ma Kah Woh, Paul Chairman

Goh Kian Hwee

Wee Sin Tho (with effect from 27 April 2007)

NOMINATING COMMITTEE

Wee Sin Tho Chairman

Guan Meng Kuan

Hans Hugh Miller (with effect from 27 April 2007)

Goh Kian Hwee (with effect from 27 April 2007)

REMUNERATION COMMITTEE

Hans Hugh Miller Chairman

Goh Kian Hwee

Guan Meng Kuan

Wee Sin Tho (with effect from 27 April 2007)

DIVESTMENT AND INVESTMENT COMMITTEE (newly formed in 2007)

Hans Hugh Miller Chairman

Ong Choo Eng

Ma Kah Woh, Paul

Wee Sin Tho

COMPANY SECRETARIES

Ong Bee Leem

Lim Keng San Shirley (with effect from 21 February 2008)

REGISTRAR/ SHARE REGISTRATION OFFICE

Boardroom Corporate & Advisory Services Pte. Ltd.

3 Church Street

#08-01 Samsung Hub

Singapore 049483

tel: 6536 5355

fax: 6536 1360

AUDITORS

Ernst & Young Certified Public Accountants

One Raffles Quay

North Tower, Level 18

Singapore 048583

Partner In-Charge: Mak Keat Meng (with effect from financial year ended 31 December 2005)

MANAGEMENT

Ong Choo Eng Group Managing Director Hwa Hong Corporation Limited

Ong Mui Eng Executive Director Hwa Hong Corporation Limited

Ong Hian Eng Executive Director Hwa Hong Corporation Limited

Chen Chee Kiew (Mrs) General Manager Singapore Warehouse Company (Private) Ltd.

Tan Yian Hua, Stella Principal Officer / Chief Executive Officer Tenet Insurance Company Ltd

Ong Eng Hock Simon Chief Financial Officer Hwa Hong Corporation Limited

Ong Eng Loke Business Development Manager Hwa Hong Edible Oil Industries Pte. Ltd.

Guan Tut Chuan Business Development Manager (China Operations) Hwa Hong Corporation Limited

FINANCE AND ADMINISTRATION

38 South Bridge Road #04-01

Singapore 058672

tel: 6538 5711

fax: 6533 3028

email: [email protected]

CORPORATE AND LEGAL GROUP CORPORATE SECRETARIAL SERVICES


Singapore 058672

tel: 6538 6818

fax: 6532 6816


Corporate Information as at 8 April 2008

BOARD OF DIRECTORS

Hans Hugh Miller Non-Executive Chairman

Ong Choo Eng Group Managing Director

Ong Mui Eng

Ong Hian Eng

Guan Meng Kuan

Goh Kian Hwee

Ma Kah Woh, Paul

Wee Sin Tho

Ong Eng Loke Alternate Director to Ong Mui Eng

PRINCIPAL SUBSIDIARIES

Singapore Warehouse Company (Private) Ltd.

400 Orchard Road

#11-09/10 Orchard Towers

Singapore 238875

tel: 6734 8355

fax: 6733 4288


Tenet Insurance Company Ltd

11 Collyer Quay

#09-00 The Arcade

Singapore 049317

tel: 6221 2211

fax: 6221 3302


website: www.tenetinsurance.com

Paco Industries Pte. Ltd. Hwa Hong Edible Oil Industries Pte. Ltd.


Singapore 058672

tel: 6538 5711

fax: 6533 3028


REGISTERED OFFICE

38 South Bridge Road

Singapore 058672

website: www.hwahongcorp.com

HWA HONG CORPORATION LIMITED ANNUAL REPORT 20072

West Midlands House

Dear Shareholders,

2007 was an important year for your Company. In volatile economic times, each business continued to execute its strategy and addressed a number of challenges.

Financial performance was strong. Significant capital was returned to you via dividends. Your board focused on ongoing improvements in governance and risk management while moving to position the core businesses for profitable growth.

Profit after taxation rose by more than $82.8 million in 2007, to $104.2 million, due primarily to earnings at the Rivergate project. Construction at this site, which began in 2005 in partnership with CapitaLand, is progressing according to plan and was 54.4% complete at the end of 2007. As this venture is carried out through an associate, sales at Rivergate are not reflected in our revenues, while income is reported directly as share of profits in associates in our Consolidated Profit and Loss Account. As profits are reported on a percentage

completion basis and TOP is targeted for September 2008, further recognition of share of profits from Rivergate is expected in 2008.

In addition to Rivergate, other real estate investments of your company did well in 2007. Revenue from rental income rose 35.6% from $4.5 million in 2006 to $6.1 million in 2007. During 2007, the Group acquired several new investment properties in the United Kingdom costing approximately $10.5 million, as well as making an investment in Singapore at the Scotts Spazio site in partnership with Dubai Investment Group LLC and KOP Capital Pte Ltd. Hwa Hong continues to explore real estate investment on its own as well as through established relationships with business partners.

Revenues at Tenet Insurance Company Ltd (“Tenet”) grew well in the year, up over $5.4 million, or 21.3%, to $30.8 million. Tenet’s strategy is to offer product innovation and high levels of service through a selected group of intermediaries and we believe this profitable growth is a demonstration of good execution of the strategy.

Chairman’s Letter To Shareholders

Model of 4 Storey office block at Scott Road


Tenet’s 50th Anniversary Celebration

Tenet performed well and reported strong underwriting profits of approximately $2.8 million on the current year’s business. At over 10% of premiums earned in the year, this level of profitability is higher than average returns that we expect over the insurance cycle. In addition to profits on 2007 insurance contracts, Tenet reported earnings from prior years of $7.0 million as loss payments in 2007 came in at lower values than the original actuarial estimates. Total insurance profits – including both current and prior year impacts were down, however, as Tenet had reported over $10.8 million of income from favourable prior year loss reserve development in 2006 compared to $7.0 million in 2007. We do not believe that favourable reserve development should be expected consistently year to year, and we focus our attention primarily on the profitability of our current writings.

CHAIRMAN’S LETTER TO SHAREHOLDERS

In our manufacturing segment, a number of challenges emerged in 2007—particularly with respect to our 49.5% owned Norwest Holdings Pte Ltd (“Norwest”), and its subsidiaries which are active in the Chinese phosphate mining and processing business. A planned rights issue and placement of shares in Norwest to provide necessary working capital was not successful and Norwest has been placed under liquidation.

Overall, financial performance of the Group was quite positive. Including earnings from Rivergate, our return on equity was 26.7%, a record for Hwa Hong. Before the profits from Rivergate and write-down in respect of our investment in Norwest, the ROE improved from 5.3% in 2006 to 6.5% to 2007.


top & bottom: 7 Water Street Liverpool

CHAIRMAN’S LETTER TO SHAREHOLDERS

From a governance perspective, your board focused particularly on further refining risk management in 2007, and took measures in any area that had been identified as having potentially significant impact on the financial position of the Group.

The board established a new committee, the Divestment and Investment Committee in mid 2007, to focus on strategic matters and act in an advisory capacity to management in terms of specific investment opportunities.

Following the 2007 AGM, two long-standing directors, Mr Chew Loy Kiat and Mr Boon Suan Lee, ceased to be directors. Both contributed considerable time and effort to the Company for many years, and I would like to thank them for their contributions to Hwa Hong.

Finally, the directors and I wish to thank our business partners and our shareholders for their confidence, and the staff of Hwa Hong for their dedication and performance in 2007.

Sincerely,Hans Hugh MillerChairman


Five Year Group Financial Profile

STIShare price

31 / 12 / 2003 31 / 12 / 2004 30 / 12 / 2005 29 / 12 / 2006 31 / 12 / 2007

1,764.522,066.14

2,347.34

2,985.833,482.30

0.560.54

0.58

0.67 0.71

1.58¢ 1.60¢ 1.60¢ 2.22¢

13.27¢

Dividends per share

31 / 12 / 2003 31 / 12 / 2004 31 / 12 / 2005 31 / 12 / 2006 31 / 12 / 2007

Revenue ($’000)

$46,335

$53,939

$68,081

$88,865

$75,910

31 / 12 / 2003 31 / 12 / 2004 31 / 12 / 2005 31 / 12 / 2006 31 / 12 / 2007

Financial Year Ended

Financial Year Ended

Share Price Performance


Client: Aztech Systems Ltd


HEAD OFFICE AZTECH SYSTEMS LTD No. 31 Ubi Road 1, Aztech Building, Singapore 408694 Tel: (65) 6741-7211 Fax: (65) 6749-1198 Website: http://www.aztech.com

OVERSEAS OFFICES Greater China Office AZTECH SYSTEMS (HONG KONG) LTD Rooms 2-10, 3/F, Core Building 1 No. 1 Science Park East Ave, Hong Kong Science Park, Pak Shek Kok, Shatin, New Territories, Hong Kong Tel: (852) 2757-1177 Fax: (851) 2753-0578

USA AZTECH LABS, INC. 4005 Clipper Court Fremont, CA 94538, USA Tel: (1) (510) 611-6839-800 Fax: (1) (510) 611-6839-803

Germany AZTECH SYSTEMS GmBH Kreuzberger Ring 22 65205 Wiesbaden Germany Tel: (49) (0) 611-45020-0 Fax: (49) (0) 611-45020-100

Malaysia AZ-TECHNOLOGY SDN BHD 105 & 106, Ground Floor, Block A, Kelana Business Centre, 97, Jalan SS 7/2 Kelana Jaya 47301 Petaling Jaya,Selangor Malaysia Tel: (60) (03) 7804-8450 Fax: (60) (03) 7804-8457

R&D CENTRES HQ R & D CENTRE 31 Ubi Road 1, Aztech Building, Singapore 408694 Tel: (65) 6741-7211 Fax: (65) 6749-1198

SHENZHEN R & D CENTRE Blk C Room Nos. 306~308 Intelig Teachnology Digital Park No. 8 Hong Mian Road Futian Free Trade Zone Shenzhen, China Postal Code: 518038 Tel: (86) (755) 25-33-1110 Fax: (86) (755) 2533-1117

HONG KONG R & D CENTRE Room 2-10, 3/F, Core Building 1No. 1 Science Park East AveHong Kong Science ParkShatin, New TerritoriesHong KongTel: (852) 2757-1177Fax: (852) 2753-0578

DONG GUAN R & D CENTRE Jiu Jiang Shui Village, Chang Ping Town, Dong Guan City, Guang Dong Province, China Tel: (86) (769) 8393-6688 Fax: (86) (769) 8393-1138

MANUFACTURING FACILITIES CHINA AZTECH COMMUNICATION DEVICE (DG) LTD Jiu Jiang Shui Village, Chang Ping Town,Dong Guan City,Guang Dong Province, China Tel: (86) (769) 8393-6688 Fax: (86) (769) 8393-1138

SUBSIDIARY – DISTRIBUTION SHIRO CORPORATION PTE LTD 31 Ubi Road 1, #08-00 Aztech Building, Singapore 408694 Tel: (65) 6843-1333 Fax: (65) 6749-3083 Website: http://www.shirocorp.com

SHIRO CORPORATION (HK) LIMITED Rooms2-10, 3/F, Core Building 1 No. 1 Science Park East Ave, Hong Kong Science Park, Pak Shek Kok, Shatin, New Territories, Hong Kong Tel: (852) 2757-1177 Fax: (852) 2753-0578

SUBSIDIARY – SUPPLY OF MATERIALS AZ UNITED PTE. LTD. No. 31 Ubi Road 1, Aztech Building, Singapore 408694 Tel: (65) 6843-1159 Fax: (65) 6741-9773

This publication is produced by Cicada Design Pte Ltd

2007T H E A N N U A L R E P O R T O F A Z T E C H S Y S T E M S L T D

I S B N 0 7 1 9 8 6 2 0 0 7 1 2 0 7

ON A ROUTE TO SUCCESS

www.aztech.com

With worldwide broadband growth

WINNING IR AWARDS P G 20

MANAGING CHALLENGESAHEAD P G 02by Michael Mun, CEO & Chairman

THE YEAR IN REVIEW P G 10how we performed

CORPORATE GOVERNANCE REPORT P G 21a detailed report

On

A R

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ccessA

ztech A

nn

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Client: Ntegrator International Ltd


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2007 was another growth year for us. I am proud to say that 2007 marks the 5th year of consecutive growth for Aztech, with a revenue increase of 12.3% year-on-year to S$268.31 million and a retained net profit of S$18.18 million.

FY2007 Performance

Our increase in revenue was largely attributable to the consistent performance of the ODM/OEM segment that accounted for approximately 51% of our total revenue with contract manufacturing and retail sales contributing 38% and 11% of our total revenue respectively.

The Group continues to witness an overall increase in sales across its geographical areas with North & South America segment leading the pack in 2007, accounting for 38% of the Group’s revenue, followed closely by Europe and Asia Pacific with 32% and 24% respectively. The Group’s improved operating performance for 2007 translates into a stronger balance sheet with total assets of S$168.58 million, cash and cash equivalent of S$36.18 million, and shareholders funds of S$89.65 million, an increase of 10.8% over previous year.

Aztech remains focused in our core strategies of capitalising on our competitive strengths of a world-class vertically integrated manufacturing facilities, strong in-house R&D, excellent industrial design capabilities and wide international network. These have enabled us to produce complex high margin products for our contract manufacturing customers, launching new ODM/OEM products for the broadband upgrade market and enticing the retail market with new stylish and innovative products.

Managing Challenges Ahead

Continuous improvement has been the cornerstone of the Group’s efforts as we continue to scale new heights and set high standards for Aztech to deliver greater performance in 2008. This is crucial as we move forward and face increase global economic uncertainty and fluctuations that could impact profitability. At operational level, to meet these challenges, we have put in place and implemented the following strategic plans:

• Improving costs efficiencies

The increase in crude oil prices, material prices and higher operating costs globally and in China continue to impose cost pressures on the Group.

To mitigate the increasing high material prices and production costs, we will strive to increase manufacturing efficiency and improve productivity. We will work towards simplifying manufacturing process and increasing the automation of our processes to reduce costs of production and adopt lean manufacturing solutions for a diverse product mix. Stringent manufacturing specifications and quality control are of paramount importance. The Group believe these core values will fuel and sustain the growth and success of our core business.

• Managing the appreciation of Chinese Renminbi and Singapore dollar against US dollar

The strengthening of the Chinese Renminbi and Singapore dollar, against the US dollar has added additional load to the profit margin. To mitigate against adverse fluctuations of foreign currencies, the Group hedges a fixed amount of US dollar against Singapore dollar and Renminbi for the Group’s monthly operating expenses. In doing this, we intend to add stability to our earnings and cash flow. The hedging policy is implemented according to strict risk management guidelines and only for operational requirements. The Group will continue to monitor the currency situation and periodically review the requirement for this exercise.

• Delivering feature-rich products

Aztech will continue to reinforce the key strengths of its core business, primarily the design and manufacturing of data, and voice communication products such as ADSL2+ modems/routers and the HomePlug powerline adapters for the OEM/ODM and Retail markets. In addition, the Group is also targeting to produce feature-rich products that command higher margin such as the new Residential Gateway. The Gateway is truly an all-in-1 broadband device, with built-in modem, wireless Draft N, 4-port router, Ethernet WAN port, VoIP, DECT and 200Mbps HomePlug.

COVERSTORY

story by

Michael Mun CEO & Chairman

Challenges AheadManaging

ExclusiveAnnual Report 2007

02

The Group is commited to continue growing our R&D activities by forging alliances with technology partners and institutions to produce cutting edge innovative products.

• Expansion into new business sector

As part of our long-term growth strategy to enhance shareholder value leveraging on our strong cash flow and balance sheet, the Board and management of Aztech is constantly on a look out for new business opportunities to fuel growth and enhance returns. We have recently announced that we have expanded into a new business foray of sourcing and supplying of materials for the building and construction industry as well as for infrastructure development projects. We have recently secured our first contract, to be executed over a period of three years. The contract is worth approximately S$250 million for the overall procurement and supply of the material. This project is expected to have a positive contribution to our financial performance in 2008 and beyond. It is not expected to incur significant capital and resources and is within the current management capability.

We believe the above expansion strategies will provide the impetus for a greater growth beyond what is currently generated by our core business, which will remain our key focus. Aztech will exercise prudent stewardship over our financial resources as we continue to explore other business opportunities to enhance shareholder value.

Rewarding Shareholders

Aztech continues to create value for its shareholders through prudent and efficient capital management for sustained growth. During 2007, Aztech has carried out share buy-back practices, and purchased a total of 9.79 million shares worth S$3.65 million.

Our delivery of consecutive earnings in recent years with healthy cash flow has lead to consistently high level of dividend payouts. Today, to show our appreciation for your support and to enhance the value of your investment and trust in Aztech, our

Michael Mun CEO & Chairman

Board of Directors has recommended a tax-exempted (one-tier) final dividend of 1 cent per share. This is in addition to the 0.75 cents per share paid out on 31 August 2007, making the total dividend for FY2007 to be 1.75 cents per share. The dividend payout ratio for 2007 was 39.3%, having increased over the last 4 years with 15.5% in 2004, 19.8% in 2005 and 30.4% in 2006.

A Word of Thanks

Our current management team has done an exemplary job by producing 5 years of consecutive revenue growth and profitability. They continue to drive the business with an emphasis on market development strategies combined with strong fiscal discipline. I trust that the team will continue to strengthen the product quality Aztech represents, build new and deeper business relationships with our partners and continue to drive the enterprise forward.

Once again, our achievements would not have been possible without the support and contribution of our customers, business associates, staff and shareholders. It is this complementary relationship that has contributed greatly to the success of the Group.

In the year ahead, we will continue to pursue revenue growth and profit contributions in our businesses with the goal to scale new heights. Together, we’re moving forward towards a brighter future ahead.

Challenges Ahead

Continuous improvement has been the cornerstone of the Group’s efforts as we continue to scale new heights and set high standards for Aztech to deliver greater performance in 2008

“It’s packed with everything broadband you can imagine in a single box” - Digital Residential Gateway

03

2007 2006 2005 2004 2003 S$’000 S$’000 S$’000 S$’000 S$’000

ResultsRevenue 268,310 238,997 178,584 152,135 118,042EBITDA 31,286 32,435 18,092 13,416 9,863Net profit for the year 18,177 20,038 10,128 6,434 2,828Net cash inflow (outflow) 7,000 13,852 5,668 1,566 (5,808

Assets and liabilitiesNet current assets 50,079 52,320 24,088 22,669 17,356Total assets 168,583 150,188 138,824 108,044 87,195Total liabilities 78,937 69,282 74,179 52,861 38,803Total borrowings 28,065 20,026 43,595 19,229 11,909Shareholders’ equity 89,646 80,906 64,645 55,183 48,392

Per share basis (in cents)Earnings - basic 4.45 4.94 2.53 1.61 0.71Gross dividend 1.75 1.50 0.50 0.25 –Net asset value 21.86 19.78 16.07 13.81 12.15

RatiosNet profit margin 6.8% 8.4% 5.7% 4.2% 2.4%Current ratio 1.72 1.82 1.43 1.51 1.58Dividend payout ratio 39.3% 30.4% 19.8% 15.5% –Dividend cover 2.51 3.29 5.06 6.44 –Gearing ratio 31.3% 24.8% 67.4% 34.8% 24.6%Return on assets 10.8% 13.3% 7.3% 6.0% 3.2%Return on equity 20.3% 24.8% 15.7% 11.7% 5.8%

(1) The net profit for the year ended December 31, 2004 decreased by $407,000 from $6,841,000 (as previously reported) to $6,434,000 (as restated above) due to the adoption of Singapore Financial Report Standards 102-Share-based Payment.

turnover by business segments

FY2007

FINANCIAL MAT TERS

for the year ended December 31,2007financial at a glance

turnover by geographical segments

(S$’m) %ODM/OEM Sales 137.2 51% Contract Manufacturing 103.1 38% Retail Distribution 28.0 11% Total 268.3 100%

(S$’m) %North & South America 101.0 38% Europe 86.5 32%Asia Pacific 65.0 24%Others 15.8 6% Total 268.3 100%

Retail Distribution11%

ODM/OEM Sales 51%

Contract Manufacturing38%

FY2007 America38%

Asia Pacific 24%

Europe 32%

Others6%

)

(1)

Annual Report 2007

06

FEATURES “Take flight the fun & easy way with Zulu” - Aztech RC Helicopter

the invaluable benefits for sustained growth and

long-term competitiveness. With its continuous

pursuit in this area, the Group was able to develop

products with competitive advantages and be a key

player in the industry.

Recently, new products created from the in-

house R&D efforts are specifically targeted at

next generation of broadband – VDSL (Very High

Speed DSL line) and FTTH (Fiber-To-The-Home)

technologies. Such products of better features and

technology are targeted to meet the increasing

popularity and demand for value-added services

such as Internet Protocol (IP) TV, Voice over IP (VoIP),

video conferencing and High Definition (HD) TV.

Taking its R&D activities to a higher level, Aztech

embarked on a strategic approach to forge

alliances with institutions to produce innovative

products. In June, Aztech formed a technological

alliance with Telekom Research & Development

SDN BHD (TMR&D), a wholly owned subsidiary of

Telekom Malaysia Berhad to conduct R&D activities

through cooperative research, research contracts,

training, industrial attachment, and consultancy.

This alliance serves to combine the technical and

marketing capabilities of both organisations and

together promote and commercialize its joint R&D

products in Asia.

Last but not the least, we take great pride in its

state-of-the art manufacturing facilities at Dong

Guan plant, which have seen continual upgrades

over the last 2 years since turning operational. In

order to roll-out products of the optimum quality,

we have invested wisely in high tech equipment

such as the 5DX 3D X-ray machine, Automated

Optical Inspection machines and recently a RoHS

lead-free spectrometer. Today, our fully integrated

design and manufacturing solutions serve to

shorten a product’s development life cycle thereby

helping our customers reduce development costs

and retain their edge in their respective markets.

It is our desire to create a world-class plant, fueled

with a dedicated work force to exceed customers’

expectations.

PRODUCT ACCOLADES In a fast growing and highly aggressive broadband

industry, it is critical for Aztech to stay ahead of

competition by producing quality products of

world-class standards. During the year in review,

our products gathered recognition in the form of

awards from various local magazines.

13Shiro Touch-screen media player Shiro Slim Compact media player

200Mbps HomePlug powerline adapter

PATRICIA NG SOK CHENGExecutive DirectorGeneral Manager, Shiro

MARTIN CHIA HEOK MIIN Executive DirectorSenior VP, Sales & Product Marketing

JEREMY MUN WENG HUNG Executive DirectorVice President, Plant Operations

PHILIP TAN TEE YONG Independent Director

BOARD OFDIRECTORS

MICHAEL MUN HONG YEWCEO & Chairman

FEATURES Annual Report 2007

08

COLIN NG TECK SIM Independent Director

KHOO HO TONG Independent Director

KEY MANAGEMENT

Jason Saw Chwee MengVice President, Research and Development, HQ R&D CentreMr Saw joined Aztech in May 2005. He is responsible for the planning, coordination, and execution of product designs and development handled by the HQ R&D Centre and heads the technical support service team for the related products. He holds a Diploma in Electronics Engineering from Ngee Ann Polytechnic.

Dixon Hong Duo XinVice President, Research & DevelopmentMr Hong joined Aztech in 2006. He is responsible for the identification and establishment of new research and development alliances for the development of new products, both locally and overseas. Mr Hong graduated from Fu Dan University in Shanghai, China and holds a Masters in Computer Science from New York University, USA. He was a visiting Co-Researcher at Keio University in Tokyo, Japan.

Herman So Kam HungVice President, FinanceMr So joined Aztech in 2003. He is responsible for the Groupʼs financial management and treasury functions. Mr So has over 10 years working experience in the finance, accounting and auditing fields. He holds a Bachelorʼs degree in Accountancy from Monash University, Australia. He is also an associate member of the Hong Kong Institute of Certified Public Accountants and a member of CPA Australia.

Michael Lee Thiam SeongVice President, Strategic Alliance Mr Lee joined Aztech in 2006. Mr Lee is responsible for developing strategic alliances for the Group and driving corporate development opportunities. He brings with him over 18 years of business, corporate and financial experiences in both listed and leading MNCs. He holds a degree in Accounting with Computing from University of Kent, Canterbury, United Kingdom.

Low Wei ChongVice President, Research and Development,Shenzhen R&D CentreMr Low joined Aztech in 1994. He is responsible for the planning, coordination, and execution of product designs and development of the voice products and other new products in Shenzhen R&D Centre. He holds a Diploma in Electronic Engineering and an Advanced Diploma in Computer & Communication Systems from Ngee Ann Polytechnic.

*Details of member of the board can be found in the Corporate Governance Report at pg 21.

09

“A dedicated wireless multimedia streamer for any modern home” - Wireless Multimedia Streamer

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Client: YHI International Ltd


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Client: Nucleus Electronics Ltd


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Client: Red Cross Singapore


Our Core Values

CompassionHaving a caring culture and a love for people in whatever we do, guided by the sevenprinciples of the Red Cross Red Crescent Movement.

PassionGiving our heart and soul selflessly in all that we do.

ProfessionalismAchieving excellence in our service delivery with integrity and transparency.

Our VisionTo realise Singapore Red Cross as a leading and distinctive humanitarian organisation thatbrings people and institutions together in aid of the vulnerable.

Our MissionProtecting human life and dignity, relieving human suffering and responding to emergencies.

Our WorkAs an independent humanitarian organisation, we raise our own funds to serve humanityand further the work of the Movement both locally and internationally.

Seven Fundamental Principles of theRed Cross Red Crescent MovementHumanity • Impartiality • Neutrality • Independence• Voluntary Service • Unity • Universality

02Singapore Red Cross

The Singapore Red Cross (SRC) has come a long way since its humblebeginnings in 1949, when it was a chapter of the British Red Cross.Today, we are a strong and growing National Society actively engaged inhumanitarian work both locally and overseas.

Notable AchievementsIn 2006, we reached a significant milestone with the successful hostingof the VIIth Asia and Pacific Regional Conference of the InternationalFederation of Red Cross and Red Crescent Societies, with the theme“Serving Humanity Effectively”. Held once every four years, the conferencewas attended by 245 representatives of National Societies from 46 countriesin the Asia Pacific and the Middle East region and an additional 14countries from the other regions. Through an inclusive process of dialogue,reflection and synthesis, the four days of proceedings concluded on a highnote with the adoption of the Singapore Declaration, a consensus documentwhich set the Movement’s agenda for the Asia Pacific and Middle Eastregion for the rest of this decade. The success of the conference owedmuch to the dedication and outstanding contributions of our volunteersand staff who truly made Singapore proud!

Another highlight of the year was the biennial International Bazaar heldat the Royal Thai Embassy. With record participation from the internationaland local communities, the event raised a total of S$179,855 for our localhumanitarian services.

Our blood donor recruitment programme continued to meet the transfusionneeds of patients in Singapore’s hospitals. A total of 85,892 units of bloodwere collected during the year, of which 17,351 were from first-timedonors.

Extending Help AbroadThe year also saw our volunteers and staff rendering much needed aid todisaster-stricken areas and the less fortunate in our region - from runningmobile clinics for displaced populations in the Mount Merapi volcaniceruptions to providing medical relief to earthquake victims in Magelang,Yogyakarta, to reaching out to flood victims in Aceh and Southern Johorwith medical, food and other relief supplies. The SRC, thanks to thegenerosity of the Singapore public, also contributed financially to theInternational Red Cross Movement’s global appeals for disaster aid to thePhilippines, Lebanon, Colombia, Democratic People’s Republic of Korea,Somalia and Pakistan.

Chairman’s Report

Serving HumanityEffectively

Serving Humanity EffectivelyChairman’s Report

Singapore Red Cross at a glance• Structure, Governance and Management• Council of the Singapore Red Cross• Organisation Chart• Objectives and Activities• Our Services• Key Achievements in 2006• Internal Controls• Future Plans

Financial Overview for 2006

Highlights in 2006

Serving with Compassion...• Saving Lives• Rendering Humanitarian Aid• Restoring Lives, Rebuilding Community• Caring for the Vulnerable• Being there for those in Need

Serving with Passion...• Reaching out to Community• Giving Tireless Commitment• Developing Future Leaders• Inspiring Creativity• Connecting Hearts

Serving with Professionalism...• Collaborating with Partners• Preparing for Emergencies• Building our Capacity• Increasing our Resources• Communicating our Work

Financial Statements

The People behind Singapore Red Cross• Lists of Committees• Staff List

Appendices• Lists of Schools

How to contact us

02

04

10

11

14

21

29

58

37

66

Contents

03Annual Report 2006

We continued to oversee and monitor the disbursement of theS$88 million ‘Tidal Waves Asia Fund’, benefiting communities that wereaffected by the Asian Tsunami. Close to S$62 million have been committedso far. In all, a total of 61 reconstruction and rehabilitation projects inAceh, Sri Lanka and the Maldives are being spearheaded by Singapore-based NGOs and voluntary welfare organisations (VWOs).

Strengthening core competenciesWith new developments in the scope and scale of international humanitarianrelief work, the SRC needs to gear itself to respond to the new challenges.A key thrust of SRC’s Strategy 2010 is capacity building so as to meetbeneficiaries’ needs in a professional and sustainable manner. The SRCwill in the coming years strengthen its core competencies by enhancingits training programmes for volunteers and staff, as well as explore newand innovative ways of improving service delivery and effectiveness.

I am confident that with the dedicated support of Council Members,volunteers, staff and service partners, the Singapore Red Cross will continueto fulfil its mission locally and regionally, with much compassion andprofessionalism.

I look forward to your continued partnership in our collective endeavourto serve humanity effectively.

Lt Gen Winston Choo, Retd.ChairmanSingapore Red Cross

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Client: Tat Seng Packaging Group Ltd


Tat Seng Packaging Group Ltd.Annual Report 2005

Exciting times are abound for Tat Seng. With the

synergistic injection from PSC Corporation Ltd,

the Company is unfolding a new beginning in

the Company's history. A new beginning that

holds promising challenges and growth potential

ahead. Striving to be the preferred corrugated

products supplier, Tat Seng will continue to create

greater value to its shareholders, business

associates, management and staff.

01 Our Mission

02 Executive Chairman’s Message

04 Board of Directors

06 Financial Highlights

07 Corporate Information

08 Financial Statements

Unfoldinga New Beginning

Executive Chairman’s Message

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IntroductionIt is my pleasure to present my first messageas Executive Chairman of the Group, andthe Annual Report for the financial periodended 31 December 2005.

While this was a short, six -month financialperiod, the Group saw a major change inownership interest and an outstandinggrowth mainly from the China operations.

Unfolding A New BeginningThis was an eventful half year for the Group.In October 2005, following the sale of amajority stake of 51% of the Company bythe Group's two major shareholders anddirectors to PSC Corporation Ltd (”PSC”),PSC launched a take-over offer for theremaining shares of the Company. Atthe close of its offer in November 2005,PSC held a 64% stake in the Company.

At the conclusion of the take-over, thetwo directors who sold their shares toPSC stepped down and two independentdirectors resigned from the Board ofDirectors (”The Board”). The Board was thenreformed with the appointment of newdirectors. At this juncture, I would like towelcome the new directors to the Boardand I am confident that the new Boardwould work well together to bring theGroup to new heights.

Subsequent to the take-over by PSC, theBoard decided to change the financial yearend from 30 June to 31 December, to enablethe Company's financial year end to becoterminous with that of PSC and tofacilitate reporting requirements. Theaudited accounts presented in this AnnualReport shall thus cover the first financialperiod after the change, from 1 July 2005to 31 December 2005.

Financial ReviewThe Group's turnover for this financialperiod increased $7.3 million or 39.2% from$18.7 million to $26.0 million as comparedto the previous corresponding period. Thiswas mainly contributed by the growth inthe China operations, where turnoversoared 81%.

Group profit before tax increased$0.2 million or 17.9% as compared to theprevious corresponding period. Thisdisparity as compared to the growth inturnover was attributed to a $6.3 millionincrease in cost of sales. Cost of sales roseon the back of increase in raw materialsprices and the higher depreciation cost ofnew machines in the China operations. The$0.5 million increase in selling anddistribution expenses was attributed to theincrease in sales administration costs inChina. Administration costs increased $0.6million, mainly due to a one-time expenseof $0.3 million pertaining to the take-overexercise and a general increase of $0.3million in administrative expenses in China.The net effect of exchange differences onthe USD loan resulted in an exchange gainof $0.1 million as compared to an exchangeloss of $0.3 million in the previouscorresponding period.

The value of the Group's fixed assetsincreased $5.1 million, mainly due to arevaluation of the leasehold land andbuilding by $5.2 million, net off by anaccumulated depreciation of $1.6 millionand a capital expenditure of $1.4 millionfor the expansion of China operations.Despite the Company's dividend payout of$1.3 million and a capital expenditure of$1.4 million, the $6.1 million cash generatedfrom operations led to an increase in cashand cash equivalents of $3.2 million.

Business ReviewSingapore operations:Singapore economy grew 6.4% and themanufacturing sector grew 9.3% in 2005.Growth in the manufacturing sectorwas contributed mainly by transportengineering, biomedical and electronics.The growth in electronics however, slowedby 6% as compared to 2004.

Turnover from Singapore operations dippedmarginally by $0.3 million or 3.2%. This wasattributed to intense price competition,which also moderated our margins. We arecautiously optimistic of our prospectsin 2006 as the economy is projected for

MTI, Economic Survey of Singapore 2005

Dr. Allan YapExecutive Chairman

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Financial Highlights

30/06/02 30/06/03 30/06/04 30/06/05 31/12/05

40

30

20

10

0

Turnover ($ million)

30/06/02 30/06/03 30/06/04 30/06/05 31/12/05

4.0

3.0

2.0

1.0

0

Earnings per share (cents)

30/06/02 30/06/03 30/06/04 30/06/05 31/12/05

5.0

4.0

3.0

2.0

1.0

0.0

Profit after taxation ($ million)30/06/02 30/06/03 30/06/04 30/06/05 31/12/05

50

40

30

20

10

0

Shareholders’ equity ($ million)

Sales analysis by customer service for FY2005

Printing, Publishers & Converters 37%

Medical, Pharmaceutical & Chemical 22%

Electronics & Electrical 21%

Plastic & Metal Stamping 7%

Computer Industries 5%

Food & Beverage 4%

Others 4%

37%

4%4%

22%

21%

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Tat Seng Packaging Group LtdAnnual Report 2006 01

Our Mission

To be the preferredcorrugated products supplier

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Tat Seng Packaging Group Ltd.Annual Report 2005 3

continued growth. However, intensecompetition for business in a small marketwould continue to impair our performanceand restrain the ability to pass costs increasesin raw materials to our customers.

China operations:The strategy adopted for the Chinaoperations worked well as shown in thisfinancial period. The enlarged sales team andtwo sales offices in Shanghai contributedmuch to the superb growth in turnover asthey focused on bringing in high volumeboard orders. This tied in with our interimobjective of utilizing the new productionline's enlarged capacity quickly.

As projected, these high volume orders withlow margins could not contribute much tothe bottom line. This could be expected inthe short term as we strive to increase theutilization of the enlarged capacity of thenew production line.

The World Bank projected that the worldeconomy, which was estimated to havegrown 3.2% in 2005, to stabilize in 2006, butChina's economy would continue to growrobustly in excess of 9%. OECD projected thatthe Chinese economy would grow by 9.4%in 2006.

We are thus optimistic about our prospectsin the China operations. We would continueto use high volume board sales to takeup the current capacity gap, while weprogressively acquire higher value-addedproducts orders to improve our margin.

Looking AheadGoing forward, the Group would continue tostrive for better performance.

Singapore operations would review itsstrategies and approaches to acquire morebusiness and increase its customer base.The Company would tap on PSC's extensivelocal network to improve its market reach. Itwould also be looking at strategic alliancesin nearby markets, exploring potential exportmarkets in the region, and opportunities forgrowth by acquisition.

With a larger sales team, China operationswould see the establishment of a new salesoffice in Wuxi. The objective is to serve theplethora of industrial users and MNCs locatedin Wuxi, the second largest city in the Jiangsuprovince, where two major industrial parksin the Yangtze River Delta are located.

Our China plant would be looking atextending its factory space by 12,000 squaremeters to house a 2.8 meter wide, highspeed coating machine. Through thewater-based coating, we would be able toimprove the appearance and function of thepaper and products in accordance tocustomers' requirements. It could augmentour production operations and createadditional revenue streams for the Chinaoperations.

AcknowledgementsOn behalf of the Board of Directors,Management and staff of the Group, I wouldlike to thank our former Managing Director,Dr. Low See Pong and Executive Director,Ms. Lim Lee, for their hard work in developingand growing the Group from a sole-proprietorship to a well establishedorganization today. I would also like to thankMr. Chua Keng Hiang and Mr. U Kean Seng,two of our former Independent Directors,for their contributions to the Board.

To our valued shareholders, customers,suppliers and business partners, my gratitudefor your continuous trust and support.My appreciation also extends to theManagement and staff of the Group fortheir dedication and contributions. I amcertain that with your commitment, we shallbring the Group to greater heights as wecontinue to work towards being the preferredcorrugated products supplier in Singaporeand China.

Dr. Allan YapExecutive Chairman

The World Bank, Global Economic Prospects - Overview and Global Outlook 2006 OECD, OECD Economic Outlook No. 78

09 Corporate Governance Report

14 Directors’ Report

17 Statement by the Directors

18 Auditors’ Report

19 Balance Sheets

20 Consolidated Profit andLoss Account

21 Consolidated Statementof Changes in Equity

22 Consolidated CashFlow Statement

24 Notes to the Financial Statements

53 Land & Buildings

54 Statistics of Shareholdings

55 Notice of Annual General Meeting

Proxy Form

Financial Statements

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01Tat Seng Packaging Group Ltd Annual Report 2007

To be the preferred corrugated products supplier

Tat Seng strives to position ourselves as the first name that comes to mind whenever cartons and other corrugated packaging products are required by users.

Tat Seng progresses through continuous improvements, so as to remain a key supplier in the paper packaging

industry and to maintain our continuous growth in the marketplace.

issionur

Tat Seng Packaging Group Ltd Annual Report 200702

FINANCIAL REVIEW

The Group’s turnover for the year ended 31 December 2007 reached S$74.6 million, representing an increase of S$19.8 million or 36% from S$54.8 million in the prior financial year. The inclusion of S$13.1 million full year turnover of Hefei Dansun Packaging Co., Ltd. (“Hefei Dansun”) which was acquired in September 2006 contributed to the better performance. Excluding the contribution from Hefei Dansun for this current and prior year, the Group’s turnover from Singapore and Suzhou operations grew 18.2%.

The Group’s cost of sales increased 40.9% or S$17.9 million. Cost of paper materials and labour costs increased significantly during the year. This is in part contributed by the inclusion of a full year cost from Hefei Dansun as compared to the previous year. However, factory overheads relative to turnover decreased as compared to the previous corresponding period. The combined effect resulted in a lower Group gross profit margin as compared to prior year.

In line with the increase in turnover and the inclusion of a full year expenditure of Hefei Dansun, the Group’s operating expenses increased by S$1.8 million.

Other income increased S$3.6 million as compared to the previous corresponding period, mainly due to the gain on sale of the Company’s property. This gain lifted

On behalf of the Board of Directors, I am pleased to present the Annual Report of the Company for the financial year ended 31 December 2007.

STRATEGIC DIVESTMENT

The highlight of the financial year was the strategic divestment of the Company’s leasehold land and building. In April 2007, the Company entered into an option agreement with RBC Dexia Trust Services Singapore Pte Limited, the trustee of Cambridge Industrial Trust (“CIT”), an SGX-ST listed real estate investment trust, for the sale and leaseback (the “Proposed Transaction”) of the Company’s building and the remainder of the Company’s leasehold interest in 28 Senoko Drive (the “Property”). The sale price of the Property was S$12 million, as valued by the Company’s independent valuer, Kenwood Property Consultants Pte Ltd.

Subsequent to obtaining the Company shareholders’ approval for the Proposed Transaction in an Extraordinary General Meeting held on 21 June 2007, the sale of the Property was completed on 25 June 2007. Upon completion, the Property was leased back for a term of 15 years, with an option to renew for a further 5 years.

The proceeds from the sale of the Property gave the Company a gain of S$3.7 million in the year.

the Group’s profit after tax by 1.4 times to S$5.7 million. Correspondingly, the net profit attributable to shareholders for the year increased $3.5 million.

BUSINESS REVIEW

Tat Seng Singapore: With the improvement of Singapore’s economy in 2007, Singapore operations consolidated the existing customer base and achieved an 8.3% revenue growth as compared to the previous financial year.

In the second half of the year, Singapore operations faced an industry-wide increase in paper prices, causing materials costs to increase substantially. In addition, the Company faced additional expenditure for the lease of property from CIT. These had affected the operation’s profit margins.

Tat Seng Packaging Suzhou Co., Ltd. (“Tat Seng Suzhou”): Inflation, a general increase in energy prices and an increase in prices of waste paper drove up the cost of paper and other raw materials. However, as a result of economies of scale and better cost control, gross profit margin remained relatively unchanged as compared to financial year 2006.

The fourth phase of expansion in Tat Seng Suzhou was completed in the year. This phase

Dr. Allan Yap Executive Chairman

hairman’sxecutive tatement

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Tat Seng Packaging Group Ltd

Annual Report

2007

Your preferred corrugated products supplier

SingaporeTat Seng Packaging Group Ltd

达成包装集团

Add: 28 Senoko Drive

Singapore 758214

Tel: (65) 6257 5555

Fax: (65) 6257 5736

E-mail: [email protected]

Website: www.tspg.sg

Tat Seng Packaging Group Ltd

Hefei, ChinaHefei Dansun Packaging Co., Ltd.

合肥丹盛包装有限公司

地址: 合肥市经济技术开发区紫蓬路105号

邮编: 230601

电话: (86) 551 3810 166

传真: (86) 551 3810 123

电子邮件: [email protected]

Suzhou, ChinaTat Seng Packaging (Suzhou) Co., Ltd.

达成包装制品(苏州)有限公司

地址: 苏州相城区望亭镇问渡路88号

邮编: 215155

电话: (86) 512 6538 0538

传真: (86) 512 6538 9342

电子邮件: [email protected]

f irectors

Dr. Allan Yap Executive Chairman Dr. Allan Yap was appointed as an Executive Chairman of our Group on 21 November 2005. His portfolio includes 25 years of experience in finance, investment and banking. Dr. Yap is also the Executive Chairman of PSC Corporation Ltd and Intraco Limited. He is an Executive Director of Wing On Travel (Holdings) Limited and the Managing Director of Hanny Holdings Limited, both of which are Hong Kong-listed companies. He is also the Chairman of MRI Holdings Limited, an Australian-listed company and the Chairman of China Enterprises Limited, a company whose shares are traded on the OTC Bulletin Board in the United States of America. Dr. Yap is the Chairman and Chief Executive Officer of Burcon NutraScience Corporation, a Canada-listed company. He received an Honorary Degree of Doctor of Law from the University of Victoria, Canada.

Dr. John Chen Seow Phun Deputy Chairman Dr. John Chen Seow Phun joined our Group on 21 November 2005 as a Non-Executive Director and was concurrently appointed as a Deputy Chairman of our Board. Dr. Chen was a Member of Parliament from 1988 to 2006. He served as the Assistant Secretary General of the National Trades Union Congress from 1991 to 1997. He was a Minister of State from 1997 to 2001. He is presently the Managing Director of JCL Business Development Pte Ltd, the Chairman of SAC Capital Private Limited, the Deputy Chairman and Non-Executive Director of PSC Corporation Ltd and sits on the Board of a number of publicly listed companies. Dr. Chen has been a Board member of the Economic Development Board, the Housing & Development Board, the Port of Singapore Authority and Singapore Power Ltd.

Loh See Moon Managing Director Mr. Loh See Moon was appointed as the Managing Director/Chief Executive Officer of our Group on 21 November 2005. Prior to his current appointment, Mr. Loh was the Deputy Managing Director of our Group. He was appointed as an Executive Director and concurrently as the Factory Manager of our Company in 1977. In 1981, he was promoted to the position of General Manager. In 1989, he was appointed as the Deputy Managing Director. Mr. Loh graduated from the Nanyang University in 1971 with a Bachelor of Science Degree. He has more than 30 years of experience in the corrugated products industry.

Foo Der Rong Executive Director Mr. Foo Der Rong graduated with Bachelor of Commerce Degree from Nanyang University and was appointed as an Executive Director of our Group on 21 November 2005. He is currently the Managing Director and CEO of PSC Corporation Ltd and Executive Director of Intraco Limited, both Singapore -listed companies.

Mr. Foo has wealth of experience and knowledge in business development, corporate restructuring, investment strategies and operations management in the FMCG, service and manufacturing industries.

oard


Cheong Poh Hua Executive Director Ms. Cheong Poh Hua, is an Executive Director of our Group. Ms. Cheong joined our Company in September 1981 and was later promoted to Finance and Administration Manager in 1984. Ms. Cheong is responsible for all the financial and administrative affairs of our Group. She was appointed as an Executive Director of our Group on 1 July 2002. Between 1978 to 1981, Ms. Cheong was an auditor in S.L. Chua & Company. Ms. Cheong graduated from Nanyang University in 1978 with a Bachelor of Commerce Degree in Accountancy. Ms. Cheong is a non-practising member of the Institute of Certified Public Accountants of Singapore (“ICPAS“) and a Fellow member of the CPA Australia.

Chee Teck Kwong PatrickIndependent Director Mr. Chee Teck Kwong Patrick, PBM, was appointed as an Independent Director and Chairman of the Remuneration Committee of our Group on 24 November 2005. Mr. Chee holds a Bachelor of Laws (Hons) Degree from the University of Singapore. He has been in private legal practice since 1980. He is now a Senior Legal Consultant with KhattarWong.

Mr. Chee is a Notary Public and a Commissioner for Oaths. He is a member of Singapore Institute of Arbitrators, Singapore Institute of Internal Auditors and Singapore Institute of Directors. He also sits on the Board of other public listed companies including PSC Corporation Ltd, CSC Holdings Limited, Richland Group Limited and King’s Safetywear Limited, Singapore Windsor Holdings Limited and Hengxin Technologies Ltd.

Mr. Chee is active in community service and is the Vice Chairman of Tech Ghee Community Club and the Organising Chairman of National Street Soccer League. Mr. Chee is the recipient of the National Day Awards 2003 – The Public Service Medal (Pingat Bakti Masayarakat) from the President of Republic of Singapore.

Kuik See Juan Independent Director Mr. Kuik See Juan was appointed as an Independent Director of our Group on 14 February 2001. He was appointed as Chairman of the Nominating Committee of our Group on 24 November 2005. From 1972 to 1981, he held various senior officer positions with Bank of America NT & SA in Singapore and Jakarta. Thereafter, he spent more than twenty years as executive director in many private and listed public companies as board member during various periods, managing wide ranging businesses in mostly ASEAN countries and China. Currently, he has been appointed as independent director to four other public companies listed on SGX. Since 1969, he has been an Associate Member of the Chartered Institute of Bankers, U.K., known currently as Institute of Financial Services.

Lien Kait Long Independent Director Mr. Lien Kait Long was appointed as an Independent Director and Chairman of the Audit Committee of our Group on 24 November 2005. He has over 37 years experience in accounting and finance, corporate management and business investment. He has held a number of senior management positions as well as executive directorships in various public and private corporations in Singapore, Hong Kong and China. He currently serves as an Independent Director on the boards of several Singapore and Chinese companies listed on the Singapore Exchange. The listed companies that he has present and prior experience in are from diverse industries including manufacturing, stockist cum trading, telecommunications, oil & gas, consumer, textile and food & beverage. Mr. Lien holds a Bachelor of Commerce Degree from Nanyang University, and is a Fellow member of the ICPAS and CPA Australia.

(Left to right)Dr. Allan Yap, Dr. John Chen Seow Phun,

Mr. Loh See Moon, Mr. Foo Der Rong, Ms. Cheong Poh Hua, Mr. Chee Teck Kwong Patrick,

Mr. Lien Kait Long, Mr. Kuik See Juan



for FY2007ustomer ector

Electronics & Electrical 15%

Medical, Pharmaceutical & Chemical 24%

Printing, Publishers & Converters 36%

Plastic & Metal Stamping 4%

Food & Beverage 11%

Computer Industries 3%

Others 7%

4%

11%

3%

7%

15%24%

36%

ales nalysis by


(1) Twelve (12) months ended 30th June 2005 (2) Six (6) months ended 31st December 2005

2004 2005(1) 2006 2007

inancial ighlights80

70

60

50

40

30

20

10

0

Turnover($ million)

2006 2007

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0

Earnings Per Share (¢ cents)

2005(2) 2004 2005(1) 2005(2)

2004 2005(1) 2006 2007

6.0

5.5

5.0

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0

Profit After Taxation($ million)

2006 2007

50

40

30

20

10

0

Shareholders’ Equity($ million)

2005(2) 2004 2005(1) 2005(2)

Client: Universal Assets Group Pte Ltd

Work Scope:Brochure

Client: The Westin Langkawi Resort & Spa

Work Scope:Corporate Brochure

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Client: TDB International Pte Ltd

Work Scope:Corporate Identity & Marketing Materials

namecard

corporate identity

brochure

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Client: Seiko Instruments Singapore Pte Ltd

Work Scope:Commemorative Book

Client: Tan Tock Seng Hospital - Communicable Disease Centre (CDC)

Work Scope:Commemorative Book

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The Municipal Officers in 1915 Steam Laundry

Patients at SOCJ waiting for screening - Nipah Virus

The Infamous ‘Or Sai” - Black Lion

Cards of Appreciation - SARS

EDTTSH

Clinical Block 112 storeys



New Admin Block

Opening of THVC site at 142 Moulmein Road

Mr Michael Lim, Chairman of NHGGuest of Honour - opening THVC

Client: Haruna (S) Pte Ltd

Work Scope:Brochure

Client: Nalco Asia Headquarters

Work Scope:Product Brochure

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covers

Progress is continually changing. In the automotive industry, Hella has beena trendsetter with pioneering products and systems in the field of lighting,electrics, electronics and thermal management. For more than 100 years now,Hella has been setting milestones for the future of motor vehicles. As aninternationally operating supplier for globally positioned customers, we are atthe forefront of shaping technological development and stand out from thecompetition with our international production network. Hella offers systemknowledge, experience with mass production, process know-how, experienceand an international profile for the implementation of innovative concepts.

Innovative Technology for Demanding Heavy-duty UseCreativity and know-how are the pillars of Hella’s success. Supported bydecades of experience in development and production for both small lots andlarge-scale series production, this strategy has made Hella one of the best inthe world. Hella continuously invests in advancing technologies, particularlyin the areas of LED and xenon technology, intelligent lighting, integratedelectrics and electronics with wiring systems.

Customised SolutionsHella’s competence is in developingsolutions and converting them into tailor-made applications to suit the customer’sneeds. Hella aims to take on challengesand tasks set by customers and providethem with individual solutions. Ourmodular lighting concepts are in highfashion, since design-oriented customers- for example, in the buses, coaches,trucks and trailers segments - increasinglydemand up-to-date and customiseddesigns that can be smoothly implemented with this concept.

Intensive SupportPersonal contact is at the very basis of every customer relationship at Hella,with our self-imposed requirements as an automotive parts supplier channelledtowards supporting each of our customers as best as possible.

So whether you are a manufacturer of buses or coaches, trucks or trailers,agricultural or mining machinery, or in the marine industry, you can rely onHella for innovative technology, customised solutions and intensive support.

MICA (P) No. 308/03/2006

Issue 02: Dec 06 - Feb 07The aftermarket newsletter by Hella Asia Singapore

Special OE: Success Through theCombination of Global, IndividualisedCustomer Support and Innovative Power

Contents2 Special OE: Success Through the

Combination of Global, Individualised Customer Support and Innovative Power

3 Automechanika 2006

Hella Technical Training to SupportGarages for the Future of Electricand Electronics

4 Hella Valued Partners Programme

5 Headlamp Beam Setter

Thermal Oil-level Sensor (Electronics)

6 LED (Light Emitting Diode)

7 Marketing Support Package for Bulbs

Safer through the night with rear lamps from Hella.

Individually styled: complete front lightingmodule for buses including design trim,headlamp cleaning system and cables.

Circular modules andsingle-function lamps Brilliant-finish combination rear lamps Bi-Xenon headlamps DynaView® Evo2 retrofit cornering light

Innovative Technologymeets Modern Design.A complete range of innovative lighting productsfrom Hella specially for buses and coaches.

A s a s u p p l i e r t o m a j o r b u smanufacturers, Hella is setting newstandards in design, technology, qualityand parts supplies with a wide range ofstate-of-the-art lighting products andaccessories. Hella creates innovationsin lighting techology with the use of

xenon or LED technology to providepowerful illumination of robust qualityand is your partner for developing atailor-made solution for all l ightingfunctions and installation types.

Hella – The Partner for Professionals.

Innovative Technologies Customised Solutions Intensive SupportOur Ideas,Your Success.

Hella Valued Partners Programme

EVENTS

Hella in Asia Pacific has built up strong partnerships with a networkof key Hella partners supporting the Independent Aftermarket andSpecial OE segments in the region. These partners play a crucialrole in the overall success of Hella, as the brand ambassadors in thevarious local markets across the region.

In recognition of the contributions of these partners across Asia,Hella launched the Hella Valued Partners (HVP) programme, apreferred-partners scheme for its most important partners in Asia inMay 2006. Selected key partners across 8 countries in the regionwere awarded the status of Hella Valued Partners.

As a valued partner, the HVPs are fully backed by Hella and havedirect access to Hella’s expertise in the areas of sales support,marketing expertise, product and technical know-how support andreliable logistics service.

Launching Hella Valued PartnersTo kick-off the Hella Valued Partners programme, a 2-day inauguralevent was made in May 2006, Singapore. Hella hosted HVPs fromaround the region to mark this new inception. Grand opening of Hella Asia Singapore Office

Our Hella Valued Partners

Ceremonial planting of new seedlings Hands-on cooking class for team building

SINGAPORE

Hella Asia Singapore Pte LtdRegional Headquarters AsiaPacificIndependent Aftermarket

2 International Business Park#02-15 The StrategySingapore 609930

Tel: +65 6854 7300Fax: +65 6854 7302Email: [email protected]: www.hella.com.sg

AUSTRALIA

Hella Australia Pty. Ltd.

54-76 Southern RoadP.O. Box 89Mentone 3194Victoria, Australia

Tel: +61 3 9581 9333Fax: +61 3 9585 2654Email: [email protected]: www.hella.com.au

CHINA

Hella Trading (Shanghai)Co., Ltd

B & F1, 14th/F, East OceanCentreNo. 618 East Yan An RoadShanghai 200001China

Tel: +86 21 5385 4088Fax: +86 21 5385 5006Email: [email protected]: www.hellacn.com

INDIA

Hella India Lighting Ltd

14/6 Mathura RpadFaridabad - 121003Haryana, India

Tel: +91 129 227 5772Fax: +91 129 227 3903Email: [email protected]

JAPAN

Hella Japan Inc.

Nishi-Shinjuku Takagi Bldg, 5F1-20-3, Nishi-ShinjukuShinjuku-kuTokyo, 160-0023 Japan


KOREA

Hella Asia PacificKorea Liaison Office

#817, Daewoo Maison Libre B/D45-5, Youido-DongYoungdeungpo-Ku150-891 Seoul, Korea

Tel: +82 2 783 8373Fax: +82 2 761 2969E-mail: [email protected]

NEW ZEALAND

Hella New Zealand Limited

81-83 Ben Lomond CrescentP.O. Box 51-427PakurangaAuckland 1730, New Zealand

Tel: +64 9 577 0000Fax: +64 9 576 2476Website: www.hella.co.nz

PHILIPPINES

Hella-Phil., Inc.

Km. 38 Gen. Aguinaldo HighwayDasmarinas, Cavite 4114Philippines


SNIPPETS07

Marketing Support Package for Bulbs

Contacts in Asia Pacific

Hella Express is brought to you by Hella Asia Singapore Pte Ltd.Editors: Michelle Anne Elias ([email protected])

Janice Choo ([email protected])

Hella Asia has developed a bulbs marketing support packageto assist and support wholesalers and their retail customersin driving more Hella bulb sales.

This marketing support package aims to promote greaterbrand awareness to the end users with a wide range ofattractive sales support tools and point-of-sale materialsand comes with a clear message - Premium Quality Bulbs:Brighter and Longer Lasting.

Bulbs flyer Bulbs leaflet and leaflet holder

Bulbs displaycabinet with 12v or24v tester

Bulbs wobblerBulbs shelf display

6

Bulbs sticker Bulbs banner

Stickers and wobblers in Jakarta Flyers, leaflets and leafletstand in Jakarta

Banner in Thailand Wobblers and shelf displayin Thailand

NEWSFLASH02

Xenon Light - The High-tech Light for the Road

Xenon lamps provide more light than conventional filamentbulbs, and that in daylight quality. Where a conventionalbulb shines via a filament, the light arc principle applies inthe case of a xenon headlamp. Here, a mixture of the inertgas xenon and metallic salts is enclosed in a glass bulb thesize of a matchstick head. The light arc is ignited betweentwo exactly positioned electrodes and kept alight. Hella hasdeveloped a sophisticated electronic ballast system to controlthis process. Thus, with xenon technology, Hella has createda new dimension in terms of retrofitting and conversionbusiness for the aftermarket and workshops.

LED - Exploit the Technological Lead

Hella’s growing range of LED (Light Emitting Diode) lampshas been accepted as the most advanced one-step solutionto problems with lighting in the commercial transport industry.Hella has developed the technologies that have built millionsof lamps, engineered and tested to the highest standards,to suit the harshest environmental conditions. LED technologyhas enormous benefits for the transport industry, the mostobvious being the reduction in maintenance requirementswith Hella’s LED lamps operating with up to 80% less powerconsumption than comparable bulb lamps, remaining fullyoperational under severe cold, heat and humidity while beingsubjected to high levels of vibration. The new Hella lampsusing LED technology pick up where other lighting conceptsreach their capacity limits.

Product Variety from Hella: A Lead Based on Creativityand Know-howWith more freedom in optimising vehicle architecture, Hellaprovides an unusually in-depth product range and modularsystems.

Trucks and trailers: On the road again - day-to-day businessfor heavy-duty trucks and trailers. Scheduling pressure andstress often dominate business. Offer your customers thatdecisive extra safety with Hella’s high product quality, a widerange of spare parts supplies and straightforward installationprocesses.

Buses and coaches: Hella supplies complete lighting systemsfor all functions, including supporting frame and decorativetrims. Rear and side lightings using LED technology for reducedpower consumption and homogeneous illumination with low-profile design, long service life for all functions.

Agricultural: Hella is the No. 1 in the agricultural machinerymarket from Original Equipment supplies to spare parts. Thereasons: An exemplary product range and world-widedistribution network.

Mining: Hella meets all your mining lighting requirements withsolutions for dynamic and static lighting systems used in open-cut, underground and offshore projects.

Marine: Hella marine lighting products are engineered forsafety, reliability and high performance with innovative lightingsolutions being channelled into sophisticated navigation andlighting systems. With these products, Hella marine is a supplierto yacht and powerboat manufacturers, marine resellers andcommercial fleets around the world.

Hella work lamps turn night into day LED lamps for trailers

Client: Hella Asia Singapore Pte Ltd

Work Scope:Marketing CollateralNewsletter

newsletter

leaflet

standee

wobbler

Jan -

Apr 2008 •

MICA(P) 103/10/2007

27 February 2008 was the happiest moment for SLA Graduates from the August 2006 intakes of Higher Diploma in Supply Chain Management, Diploma in Integrated Logistics Management and Diploma in International Freight Management. Joining them in this joyous occasion were SLA Chairman, Training & Development Committee members, lecturers, sponsors and invited guests.

The ceremony was officially opened by speech from Mr Thomas Sim, First Deputy Chairman of SLA and Chairman of the Training & Development Committee. In his speech, he highlighted SLA’s long history in supporting freight & logistics training in Singapore. This achievement took place because of SLA’s continuous effort in reviewing its training courses to meet the industries’ demands, and its objective to provide and promote training that is realistic, practical and relevant to the industries’ needs.

With the support from the Local Enterprise and Association Development (LEAD) programme, SLA would be setting up a SLA Training Institute to augment the association’s capabilities to educate and train the logistics workforce. To achieve that target, the association is working towards developing customised logistics degree programme, offering logistics scholarship and providing online learning. The association would also be shifting to its new premise at SPRING Singapore in its efforts to amalgamate training resources and to focus its priorities towards structured training in the next wave of the association’s developments.

Smiles of achievements were spotted amongst the SLA graduates during the ceremony. The brightest smiles could be seen on the faces of winners for the SLA Best Achiever Awards and Book Prizes who were recognised for their excellent performances in their studies.

With the knowledge and training in logistics gained through SLA courses, the graduates set off with the hope of contributing more and pursuing higher career in the industry. Congratulations to all graduates and best wishes to their future plans!

Our heartiest appreciation to the sponsors for the awards :

• CWT Logistics Pte Ltd• Diamond International Consolidators (S) Pte Ltd• Freight Links Logistics Pte Ltd • iHub Solutions Pte Ltd• Kewill-IPACS E-Solutions (S) Pte Ltd• Mini Environment Service Pte Ltd• Rabobank International• Singapore Post Ltd• Tri-Net Logistics (Asia) Pte Ltd

Leap Forward for SLA and its Graduates

SLA Graduation Ceremony - Quotes

When I started my first course with SLA in Diploma in International Freight Management, I had no idea what logistics was all about. Back then, I was holding a junior position in my current company, SDV Logistics. After completing the diploma course, I was promoted to an executive position. Today, I am leading a department of seven officers. This achievement was made possible by the opportunities given by my company. It’s also due to the knowledge gained from the course and the practical tips from the lecturers. The course has not only helped me seized the opportunities at work but also widened my views to the entire supply chain.

Journie Chua Whei Yeng, SLA ScholarWinner of Best Achiever Award 2008Higher Diploma in Supply Chain Management Aug 2006 Intake

I would like to commend the dedicated lecturers for imparting their valuable knowledge to us. These subject matter expertises made learning interesting and theories easier to understand by citing real-life cases.

I would also like to express my appreciation to SLA for developing the diploma programme. Aside from providing a comprehensive coverage of logistics mangement, we also acquired skills for presentation, report writing, problem-solving, time management, inter-personal relationship and many more during the course of study.

Chan Siong FeaWinner of Best Achiever Award 2008

Diploma in Integrated Logistics Management Aug 2006 Intake

First of all, I would like to take this opportunity to thank all the passionate and dedicated lecturers in this course for sharing their professional knowledge, valuable experience and assistance.

This course is suitable for beginner like me who plans to develop his career in this dynamic industry. For every module, there is a work project and we would base our projects on our companies’ projects. Through brainstorming with teammates, we would discover creative approaches to the projects.

Liew Jiun HaurWinner of Best Achiever Award 2008Diploma in International Freight Management Aug 2006 Intake

CONGRATULATIONS! SLA Best Achiever Award Winners 2008

Higher Diploma in Supply Chain Management (August 2006 intake)

Sponsored by: CWT Logistics Pte Ltd

Winner: Ms Chua Whei Yeng Journie, SLA Scholar

Diploma in Integrated Logistics Management (August 2006 intake)

Sponsored by: Mini Environment Service Pte Ltd

Winner: Mr Chan Siong Fea

Diploma in International Freight Management (August 2006)

Sponsored by: Kewill-IPACS E-Solutions (S) Pte Ltd

Winner: Mr Liew Jiun Haur

2

SLA New PremiseOn 16 April 2008, SLA re-located to its new office premise at SPRING Singapore Building at Bukit Merah Central. The new premise with an office space of about 1,700 sw ft is able to accommodate more staff and has a state-of-the-art Training Room which can hold meetings, briefings and seminars for up to 20 participants. Besides the common facilities, there is also an assignment drop-box where students can conveniently deposit their work projects even after office hours. In addition, there are internet kiosks to allow students to surf on-line, receive updates on course schedules, course fee payment status etc. With this new office, SLA aims to provide better and more efficient services to both our members and students.

2 Bukit Merah Central #04-02SPRING Singapore Building

Singapore 159835Tel: +65 6499 9799Fax: +65 6499 9788

Website: www.sla.org.sg

Our new address :

25 October 2008 (Saturday) at Orchard Hotel, 7pm Further details on programme and opportunity for sponsorship will be announced in due course

11

Book Prize Winners – Diploma in Integrated Logistics Management ILM 204 Purchasing Management

(R11/8-2006)Sponsored by: Singapore Post LtdWinner: Mr Chan Siong Fea

ILM 205 IT Applications in Logistics (R11/8-2006)Sponsored by: iHub Solutions Pte LtdWinner: Mr Chan Siong Fea

ILM 206 Legal Issues in Logistics Management (R11/8-2006)Sponsored by: Tri-Net Logistics (Asia) Pte LtdWinner: Mr Chan Siong Fea

ILM 601 Basic Management (R11/8-2006)Sponsored by: Rabobank International Winner: Mr Chan Siong Fea

ILM 201 Managing Local Distribution & Transportation (R11/8-2006)Sponsored by: Mini Environment Service Pte LtdWinner: Ms Poh Hui Mien

ILM 202 Distribution Centre Operations (R11/8-2006)Sponsored by: iHub Solutions Pte LtdWinner: Mr Chan Siong Fea

ILM 203 Basic Principles of Multimodal Transportation (R11/8-2006)Sponsored by: Singapore Post LtdWinner: Mr Halimi Bin Siraj

Book Prize Winners – Diploma in International Freight Management

IFM 101 International Trade Management (R11/8-2006)Sponsored by: Tri-Net Logistics (Asia) Pte LtdWinner: Mr Liew Jiun Haur

IFM 102 Air Freight Forwarding Operations (R11/8-2006)Sponsored by: Singapore Post LtdWinner: Mr Ang Liang Seng

IFM 103 Sea Freight Forwarding Operations (R11/8-2006)Sponsored by: Tri-Net Logistics (Asia) Pte LtdWinner: Mr James Phua Keok Wah

IFM 104 Multimodal Transport (R11/8-2006)Sponsored by: Mini Environment Service Pte LtdWinner: Ms Sim Yuki

IFM 105 Customer Service & Relationship Management in Logistics (R11/8-2006)Sponsored by: Rabobank InternationalWinner: Mr Liew Jiun Haur

IFM 106 Legal Issues in Freight Management (R11/8-2006)Sponsored by: Tri-Net Logistics (Asia) Pte LtdWinner: Mr James Phua Keok Wah

IFM 601 Basic Management (R11/8-2006)Sponsored by: Mini Environment Service Pte LtdWinner: Mdm Chiang Lee Huang

CONGRATULATIONS!

SCM 1001 Supply Chain Management (R6/8-2006)Sponsored by: CWT Logistics Pte LtdWinner: Ms Chua Whei Yeng Journie, SLA Scholar

SCM 1002 International Transport Management (R6/8-2006)Sponsored by: CWT Logistics Pte LtdWinner: Ms Christina Lee Chui Ngoh

SCM 1004 Financial Management (R6/8-2006)Sponsored by: CWT Logistics Pte LtdWinner: Ms Lea A. Lucin

SCM 1005 Contract Management (R6/8-2006)Sponsored by: Diamond International Consolidators (S) Pte LtdWinner: Ms Chua Whei Yeng Journie, SLA Scholar

SCM 1006 Production & Operation Management (R6/8-2006)Sponsored by: Singapore Post LtdWinner: Ms Chua Whei Yeng Journie, SLA Scholar

SCM 1007 Global Marketing Management (R6/8-2006)Sponsored by: Freight Link Logistics Pte LtdWinner: Ms. Chua Whei Yeng Journie, SLA Scholar

Book Prize Winners – Higher Diploma in SupplyChain Management

3

p 14 & 15

The Singapore Packaging Star Awards 2007

Asian Packaging Summit 2007 Packaging :

The Asian Summit

Corporate Profile: A Conversation Over a Glass of

Wine

SMa Appoints New Secretary- General

p 12 p

29

SMa Connect is published bi-monthly by the Singapore Manufacturers’ Federation

MICA (P) 008/02/2007 January/February 2008

p 8

The Singapore Packaging Star Awards 2007p

14 & 15

Client: Singapore Logistics Association (SLA)

Work Scope:Newsletter

inside spread

cover

cover

Client: Singapore Manufacturers Association (SMA)


Taking The Fear Out Of Retirement

Family Members Discuss your retirement plans with your family, especially your spouse. Chances are you’ll both retire at about the same time so you need to be in agreement on this critical part of your life.

If both you and your spouse have careers, the two of you

would be contributing to this retirement fund. Make your decisions

together and try to develop a plan that will be acceptable to both

parties.

Be focusEven the best retirement plan could be in serious trouble if you

allow yourself to dip into it for frivolous luxuries. If your budget

doesn’t seem to cover all your expenses, chances are you are

confusing necessities with luxuries.

Do you really need to upgrade your car or change new model for

your mobile phone when it’s out in the market? Do you need to

have an expensive holiday or that Louis Vinton’s bag just because

of the urge of satisfying your inner desire to have them?

It is the little things that will eat into your budget. You don’t have to

resort to doing without, but just spend wisely.

Making Choices Now that you have some money put aside, you need to think

about investing so that your nest egg will grow. However, investing

your money can present complex challenges to most people who

are already so busy with their work and family commitments.

Extraordinary care and effort are vital to preserve and enhance

the financial success you want to achieve so that you have

that nest egg waiting for you to enjoy. That’s when a financial

services consultant can help you plan and make changes to your

investment portfolio for your retirement when the changes are in

response to actual changes in your personal situation rather than

to an emotional reaction to swings in the market or a change in

performance of a security that you hold when you are too busy to

anticipate.

Consult your financial representativeDeciding where to invest is a lot easier with the help of an

experienced professional. Get professional help when really you

do not know where to head.

Remember, it’s better to save and have a plan than to enter your

later years with empty pockets and no strategy! - CONNECT

.

With the ushering of the new year, some of us might be planning

towards retirement, but could be worried about being ready?

CONNECT invites local entrepreneur and author of “4 Steps to

Financial Freedom” (www.4stepsfinancialfreedom.com),

Mr Sean Toh to provides us with some simple tips.

Getting started is probably the hardest part of a retirement plan

as it is easy to think that retirement is decades away. However,

procrastination could cause you to lose thousands of dollars.

Procrastination could make the difference between a comfortable

retirement and one where you are barely getting by.

If you’re between the ages of 20 and 40, you’re probably buying

a house, a car, furniture, and thinking about your kid’s education

fund. However, the most common reply from most Singaporeans

is: “I barely have enough money for my monthly expenses. How

can I save for retirement?”

As housing, health care, transportation and education costs

continue to increase, its little wonder that saving for retirement will

take a back seat. But it doesn’t have to.

You probably think you can’t afford to save for your retirement

at this time. You’re wrong. Even a small amount invested wisely

could be very beneficial in years to come. Goal Setting If you’re convinced by now that you should start planning for your

retirement, so the next question will be, “How do I begin?”

Firstly, list down your retirement goals. Goals may include travelling,

retiring comfortably or enjoying an even better lifestyle than your

current one? Maybe you want to start a business that you have

so much passion in that will empower others or contribute to the

society in a meaning ways.

Whatever your goals, you will need an income. You could possibly

be retired for 30 or more years but that requires you to plan in how

you can find ways to provide an income for several years.

If you are thinking how much money you would actually need when

you retire, you can visit https://www.cpf.gov.sg/cpf_trans/ssl/

retirement/home.asp and use the CPF calculator to assist you.

Budgeting Next, if you already haven’t done so, create a budget.

If you don’t have a clue about how much you spend from month

to month, keep a journal of every cent and dollar you spend for

three months. You’ll see where your money is going and be able to

better manage expenses.

Your budget must include a payment to your retirement plan even

if it’s only a few dollars.

p10 FEATURE

Friendly Visit By Hungary’s Immediate Former Prime Minister By Roy Chan

On 23 November 2007, His Excellency, Mr Peter Medgyessy,

Immediate Former Prime Minister of Hungary made a friendly

visit to SMa Federation. His purpose for the visit was to gain a

better understanding of Singapore’s business environment and

development of the manufacturing sector.

His delegation was warmly welcomed by Mr Edwin Khew,

President of SMa together with Acting Secretary General, Mr.

Vincent Guok. Subsequently, a tour was conducted with the

delegates briefed about SMa Federation with its various Industry

Groups and Centres of Excellence.

Apart from exchanging contacts to further explore business

opportunities, the delegations shared briefly on Hungary’s economic

growth, current industrial focus and possible collaborations in the

future.- CONNECT

Nikko Chemicals to build plant on Jurong Island

NIKKO Chemicals, a supplier of cosmetic ingredients based in

Tokyo, will build a plant on Jurong Island to produce ethoxylated

surfactants, chemical compounds used as cosmetic ingredients.

This three billion yen (S$38.5 million) project is co-funded by Nihon

Surfactant Kogyo, a surfactant manufacturer which is part of the

Nikkol Group - a group of seven companies providing technical

support and solutions for the cosmetics and toiletries business.

The plant is expected to be completed by this November and fully

operational in 2009.

S’pore biomedical start-up gets backing from German

nanotechnology firm

Nanostart AG, a leading German nanotechnology company has

made a 16.5 per cent investment in a Singapore-based start up

called Curiox Biosystems.

Curiox holds the patent for what’s called the DropArray. This is a

technology platform in miniaturised aqueous bioassays that allows

researchers to conduct tests quickly and with lower costs.

It will cut testing time by 60 per cent and costs by nearly 90 per

cent, without compromising the accuracy of results.

So life science agencies and pharmaceutical companies can benefit

from huge savings in time and cost. Meanwhile, for consumers, it

would mean cheaper drugs.

His Excellency, Mr Peter Medgyessy (Immediate Former Prime Minister of Hungary) with Mr Edwin Khew (SMa President)>

>

p5FEATURE

The year 2007 marked a significant milestone for the Asian

Packaging Federation as APF celebrated their 40th anniversary

with the main thrust centred around the environmental sustainability

of using packaging.

For this special occasion, APF and PCS held a regional conference-

Packaging: The Asian Environment on 28 and 29 November 2007

at Chijmes Hall. This was the first time such an event was held in

Singapore.

With arising environment issues becoming a threat to our quality

of life on earth, the packaging industry has been seen as one

of the key contributors to this problem in the form of household

packaging waste.

In spite the fact that packaging will always be a necessity especially

with food, participants were encouraged to adopt environmental

friendly packaging in their businesses through the presentations of

some top practitioners in the packaging industry from around the

globe who were presented their experiences and expert views on

the topic.

The 2-day event end with an Asia Star Award Gala Dinner with

the Singapore Packaging Star Award, Asia Star Award and World

Star Award as highlights of the evening.

This event received a total of 200 delegates whom included countries

from Bangladesh, China, India, Indonesia, Japan, Korea, Malaysia,

New Zealand, Philippines, Singapore, Sri Lanka and Thailand. This

was support by International Enterprise (IE) Singapore, SPRING

Singapore and World Packaging Organisation.- CONNECT

By Dennis Toh

p12 COVER STORY

Asian Packaging Summit 2007-

Packaging: The Asian Environment

The following are the winning entries from the Commercial Category of the Asia Star Award:

Erdinger Oktoberfest 2007 Starlite Printers (Far East) PTE Ltd

Fruitty Vitaminised - Flavoured Drinks Wanin Industries PTE Ltd

Alive Yoghurt Su Yeang PTE Ltd

New Moon Super Premium Gift Set Goh Joo Hin PTE Ltd

Danone Chipsmore Standee SCA Packaging Singapore PTE Ltd

Dual Phone 3088 SCA Packaging Singapore PTE Ltd

Technical Wood Mould Pallets LHT Holding Ltd

Tube III Pallet SCA Packaging Singapore PTE Ltd

Dr Carl Olsmats, General Secretary of World Packaging Organisation Mr Albert Lim, Chairman of Packaging Council of Singapore (PCS) and

President of the Asian Packaging Federation giving his welcome speech

p13COVER STORY

Delegates filling the hall of the grand Chijmes Hall

Officials of the APF on stage for the 40th Anniversary celebrations APF officials kicking start the celebrations

cover

inside spread

Client: Tampines Central CC


5

Client: SingHealth Services Pte Ltd


inside spread

inside spread

covercover

inside spread

cover

Client: Sanden International (Singapore) Ltd

Work Scope:Corporate Identity & Marketing Materials

packaging

poster

corporate Information

corporate Identity

product Leaflets

SandenCompressorv2 copy 2.indd 2

3/6/08 9:54:22 AM

SandenProfileFA.indd 2

3/6/08 3:32:56 PM

><

<<

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<<

SandenRefrigerants2 copy 2.indd 2

3/6/08 10:25:00 AM

SandenCabinfilterV2 copy 1.indd 2 3/6/08 9:53:04 AM

v

envelope

namecard

Prima car Prima truck 1/2

Prima truck 2/2

Client: Prima Catering Pte Ltd

Work Scope:Corporate Identity

letterhead

Client: OAKS Family Office Pte Ltd

Work Scope:Corporate Identity Client:

IAG Healthscience Pte Ltd

Work Scope:Company Identity

corporate Identity

namecard

envelopeletterhead

letterhead

namecard

envelope

Client: QAF Limited

Work Scope:Company Identity Client:

Partners Logistics (S) Pte Ltd

Work Scope:Corporate Identity

corporate Identity

namecard

namecard

envelope

folder with insertletterhead

letterhead

letterhead

“The achievement was due to our prudent and judicious management of our finances, improved operational efficiency and the use of cost effective measures. In turn, the strong financial standing would help us run an effective operation.”

Chairman’sReview

My senseof pride

“We will continually strive to improve on service delivery and enhance the living environment in our Town, and make Sembawang an even better place to live, work and play.”

FinancialManagement

contents

Client: Sembawang Town Council

Work Scope:Discovery Map / Illustration / Annual Report

discovery map

illustrationannual report

Client: Health Promotion Board (HPB)

Work Scope:Poster

Client: Ministry of Education (MOE)

Work Scope:North East School Zone, National Education MaterialsStory BookIllustrationPosters

A1 poster

illustration

posters

story book cover

Client: Tuas Power Supply Pte Ltd

Work Scope:Calendar

Client: Marubeni Itochu SteelTubulars Asia Pte Ltd

Work Scope:Calendar

cover

cover

inside spread

inside spread

Client: World Vision (Singapore)

Work Scope:CollateralsDirect Mailer

direct mailer

Client: National Library Board

Work Scope:Bookmark

Client: Central Singapore Joint Service (CJSS)

Work Scope:Brochure

visuals

inside spread

cover

contactus

[email protected]

Give us a call. We would be glad to pop by for a no-obligation discussion with you.

t: 65 6338 4988f: 65 6338 8176

Client: National Heritage Board

Work scope:Event Collateral

invitation card

programme booklet

inside spread

cicada portfolio 2008

Documents

stamford residences

stamford land group36

fa copy

group revenue

financial statements53sale

cantonment road

special dividend

jetty road