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Corporate Information as at 8 April 2008                                                                                  ...
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
Cicada  Portfolio 2008
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Cicada Portfolio 2008

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Cicada Portfolio 2008

  1. 1. cicadadesignportfolio
  2. 2. • annual reports • brochures • corporate advertising • corporate identities • commemorative publications • direct mailersportfolioour • sales promotion materials • packagingFueled by passion and driven by creativity, our team of professionals arearmed with the necessary expertise to help you achieve your business • copywritingobjectives. Our diverse portfolio of clients - from construction andlogistics to the healthcare and technology sectors - is testimony to it all.So count on us to deliver quality and cost-effective solutions that are cicada design pte ltdattuned to your every need. telephone :: (65) 6338 4988 fax :: (65) 6338 8176 email :: enquiry@cicadadesign.com.sg address :: 237B East Coast Road Singapore 428930
  3. 3. Client: Client: Stamford Land Corporation Ltd SIng Holdings Pte Ltd Work Done: Work Done: Annual Report Annual Report grandeur defining ANNUAL REPORT 2007/08Defining 2 Stamford Land Corporation Ltd ANNUAL REPORT 2007/08 ANNUAL REPORT 2007/08elegance Chairman’s Message Stamford Plaza Adelaide lifestyle Stamford Plaza Melbourne Stamford Grand North Ryde Defining Stamford Plaza Brisbane 200 Cantonment Road #09-01 Southpoint, Singapore 089763 Tel: (65) 6236-6888 Fax: (65) 6236-6250 www.stamfordland.com Contents Chairman’s Message 2 Company Registration No.: 197701615H Board of Directors 8 Stamford Land Corporation achieved creditable results Our other major property developments are still under Corporate Information 10 with net profits rising by 28.7% to $42.9 million from construction and revenue from pre-sold apartments are Corporate Structure 11 $33.4 million in the previous financial year. This is not recognised under Australia’s accounting regulations. Five-Year Group Financial Summary 12 due mainly to the enhanced performance of our hotel Operations Review 14 segment that saw higher occupancy and room rates. In view of our good performance, the Board is Hotel Portfolio 20 Revenue per available room for the Group’s eight hotels recommending a tax-exempt one-tier Final Dividend and Shareholder Calendar 24 posted a healthy 6.7% increase. Special Dividend of 1.5 cents per share and 1.0 cent per Corporate Governance Statement 25 share respectively, with total payout amounting to about A strong Australian economy and the continued boom $21.6 million. This is on top of the Interim Dividend of cover Property Portfolio of the Stamford Land Group 36 in the resources sector boosted demand for hotel 1.5 cents per share that was paid out in March this year. Financial Statements accommodation. Riding on this positive trend, our Directors’ Report 40 hotel segment’s operating profits rose significantly THRIVING HOTEL BUSINESS Directors’ Statement 43 by 41.5% to $46.8 million and revenue increased by Auditors’ Report 44 StamfordCover_FA.indd 1 17% to $232.2 million. Our successful hotel business accounts for 93.4% of 7/2/08 6:08:58 PM Consolidated Income Statement 46 Group operating profits. We are the largest independent Balance Sheets 47 Group revenue, however, saw a 7.3% decrease from $298.0 owner and operator of luxury hotels in Australasia and Statements of Changes in Equity 49 million to $276.1 million due to significantly reduced take great pride in the Stamford brand’s hallmark of Consolidated Cash Flow Statement 51 contributions from our property segment whereby the excellence. All our eight hotels offer superior locations Notes to Financial Statements 53 sale of a few remaining apartments in Stamford Marque in gateway cities, first-class facilities and outstanding Shareholdings Statistics 101 were recognised as it was mostly sold out in FY2006/07. service. Notice of Annual General Meeting and Books Closure 103 Defining Defining Proxy The Stamford Residences, The Stamford Residences, Stamford Plaza Auckland Stamford Plaza Auckland Artist’s Impression Impression Artist’s StamfordExtent_FA copy.indd 1 7/2/08 6:10:20 PM StamfordExtent_FA copy.indd 2 7/2/08 6:11:05 PM inside spread elegance elegance 20 Stamford Land Corporation Ltd ANNUAL REPORT 2007/08 Stamford Land Corporation Ltd ANNUAL REPORT 2007/08 21 Hotel Portfolio Stamford Plaza Auckland Stamford Plaza Auckland Circular SIR STAMFORD AT Quay Auckland Adelaide STAMFORD PLAZA STAMFORD GRAND 93 Macquarie Street, Sydney, New South Wales 2000 Brisbane STAMFORD PLAZA Phone : (61 2) 9252 4600 Melbourne STAMFORD PLAZA Facsimile : (61 2) 9252 4286 Lower Albert Street, Auckland, Email : reservations@sscq. 2 Jetty Road, Glenelg, South stamford.com.au Australia 5045 Adelaide New Zealand STAMFORD PLAZA Phone : (61 8) 8376 1222 Phone : (64 9) 309 8888 Facsimile : (64 9) 379 6445 Facsimile : (61 8) 8376 1111 Corner Edward & Margaret Email : reservations@spak. Email : reservations@sga. Streets, Brisbane, stamford.com.au 111 Little Collins Street, stamford.com.au Queensland 4000 Melbourne Victoria 3000 Phone : (61 7) 3221 1999 Phone : (61 3) 9659 1000 150, North Terrace, Adelaide, Facsimile : (61 7) 3221 6895 Facsimile : (61 3) 9659 0999 South Australia 5000 Email : reservations@spb. Email : reservations@spm. Phone : (61 8) 8461 1111 stamford.com.au stamford.com.au Facsimile : (61 8) 8231 7572 Brisbane Email : reservations@spa. stamford.com.au Perth Adelaide Sydney The Stamford MarqueMarque Sydney The Stamford Sydney Melbourne Legend: StamfordCover_FA.indd 2 StamfordCover_FA.indd 2 7/2/08 6:09:17 PM 7/2/08 6:09:17 PM Hotel Auckland Property development inside spread StamfordExtent_FA copy.indd 20 7/2/08 6:13:34 PM StamfordExtent_FA copy.indd 21 7/2/08 6:13:39 PM cover
  4. 4. Client: Client: Rotary Engineering Limited Asia Enterprises Holding Ltd Work Scope: Work Done: Annual Report Annual Report inside spread cover coverinside spread cover
  5. 5. Client:CathayOrganisationHoldings LtdWork Done:Annual Report inside spread cover inside spread cover
  6. 6. Corporate Information as at 8 April 2008 The Bridge, Clerkenwell Road BOARD OF DIRECTORS AUDIT AND RISK COMMITTEE AUDITORS Hans Hugh Miller Ma Kah Woh, Paul Ernst & Young Client: Non-Executive Chairman Chairman Certified Public Accountants Ong Choo Eng Goh Kian Hwee One Raffles Quay Group Managing Director Wee Sin Tho North Tower, Level 18 Ong Mui Eng (with effect from 27 April 2007) Singapore 048583 Ong Hian Eng Partner In-Charge: Mak Keat Meng Guan Meng Kuan NOMINATING COMMITTEE (with effect from financial year ended Hwa Hong Holdings Ltd Goh Kian Hwee 31 December 2005) Wee Sin Tho Ma Kah Woh, Paul Chairman Guan Meng Kuan MANAGEMENT Wee Sin Tho Hans Hugh Miller Ong Choo Eng Ong Eng Loke Group Managing Director Alternate Director to Ong Mui Eng (with effect from 27 April 2007) Hwa Hong Corporation Limited Goh Kian Hwee (with effect from 27 April 2007) Ong Mui Eng PRINCIPAL SUBSIDIARIES Executive Director Hwa Hong Corporation Limited Singapore Warehouse Company (Private) Ltd. REMUNERATION COMMITTEE Ong Hian Eng Hans Hugh Miller Executive Director 400 Orchard Road Chairman Hwa Hong Corporation Limited #11-09/10 Orchard Towers Goh Kian Hwee Chen Chee Kiew (Mrs) Work Done: Table of Contents Singapore 238875 Guan Meng Kuan General Manager tel: 6734 8355 Singapore Warehouse Company (Private) Ltd. Wee Sin Tho fax: 6733 4288 Tan Yian Hua, Stella 2 Corporate Information (with effect from 27 April 2007) Principal Officer / Chief Executive Officer email: property@hwahongcorp.com Tenet Insurance Company Ltd 3 Financial Calendar 4 Chairman’s Letter to Shareholders DIVESTMENT AND INVESTMENT Ong Eng Hock Simon Tenet Insurance Company Ltd COMMITTEE Chief Financial Officer 8 Five Year Group Financial Profile Annual Rerport 11 Collyer Quay (newly formed in 2007) Hwa Hong Corporation Limited 9 Board of Directors #09-00 The Arcade Hans Hugh Miller Ong Eng Loke 11 Key Executives Chairman Business Development Manager 13 Corporate Governance Report Singapore 049317 Ong Choo Eng Hwa Hong Edible Oil Industries Pte. Ltd. 22 Risk Management and tel: 6221 2211 Ma Kah Woh, Paul Guan Tut Chuan Control Environment fax: 6221 3302 Business Development Manager Wee Sin Tho (China Operations) 23 Directors’ Report email: mail@tenetinsurance.com Hwa Hong Corporation Limited 26 Statement by Directors website: www.tenetinsurance.com COMPANY SECRETARIES 27 Independent Auditors’ Report Ong Bee Leem FINANCE AND ADMINISTRATION 29 Consolidated Profit and Paco Industries Pte. Ltd. Hwa Hong Edible Oil Industries Lim Keng San Shirley 38 South Bridge Road #04-01 Loss Accounts Pte. Ltd. (with effect from 21 February 2008) Singapore 058672 30 Balance Sheets 38 South Bridge Road #04-01 tel: 6538 5711 32 Consolidated Statement of Singapore 058672 REGISTRAR/ fax: 6533 3028 Changes in Equity SHARE REGISTRATION OFFICE 37 Consolidated Cash Flow Statement tel: 6538 5711 email: finance@hwahongcorp.com Boardroom Corporate & Advisory 39 Notes to the Financial Statements fax: 6533 3028 Services Pte. Ltd. 100 Shareholding Statistics email: marketing@hwahongcorp.com CORPORATE AND LEGAL 3 Church Street 102 Notice of Annual General Meeting GROUP CORPORATE #08-01 Samsung Hub SECRETARIAL SERVICES Proxy Form REGISTERED OFFICE Singapore 049483 38 South Bridge Road #01-01 38 South Bridge Road tel: 6536 5355 Singapore 058672 Singapore 058672 fax: 6536 1360 tel: 6538 6818 website: www.hwahongcorp.com fax: 6532 6816 email: secretariat@hwahongcorp.com Annual Report HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 1 2 HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 2007 Chairman’s Letter To Shareholders CHAIRMAN’S LETTER TO SHAREHOLDERS Tenet performed well and reported strong underwriting In our manufacturing segment, a number of challenges profits of approximately $2.8 million on the current emerged in 2007—particularly with respect to our year’s business. At over 10% of premiums earned in 49.5% owned Norwest Holdings Pte Ltd (“Norwest”), HWA HONG CORPORATION LIMITED the year, this level of profitability is higher than average and its subsidiaries which are active in the Chinese returns that we expect over the insurance cycle. In phosphate mining and processing business. A planned addition to profits on 2007 insurance contracts, Tenet rights issue and placement of shares in Norwest to reported earnings from prior years of $7.0 million as provide necessary working capital was not successful loss payments in 2007 came in at lower values than and Norwest has been placed under liquidation. the original actuarial estimates. Total insurance profits – including both current and prior year impacts were Overall, financial performance of the Group was quite down, however, as Tenet had reported over $10.8 positive. Including earnings from Rivergate, our return million of income from favourable prior year loss reserve on equity was 26.7%, a record for Hwa Hong. Before development in 2006 compared to $7.0 million in 2007. the profits from Rivergate and write-down in respect We do not believe that favourable reserve development of our investment in Norwest, the ROE improved from should be expected consistently year to year, and we 5.3% in 2006 to 6.5% to 2007. focus our attention primarily on the profitability of our current writings. Model of 4 Storey office block at Scott Road West Midlands House Dear Shareholders, completion basis and TOP is targeted for September 2008, further recognition of share of profits from cover 2007 was an important year for your Company. In Rivergate is expected in 2008. volatile economic times, each business continued to execute its strategy and addressed a number of In addition to Rivergate, other real estate investments challenges. of your company did well in 2007. Revenue from rental income rose 35.6% from $4.5 million in 2006 to Financial performance was strong. Significant capital $6.1 million in 2007. During 2007, the Group acquired was returned to you via dividends. Your board several new investment properties in the United focused on ongoing improvements in governance and Kingdom costing approximately $10.5 million, as well risk management while moving to position the core as making an investment in Singapore at the Scotts businesses for profitable growth. Spazio site in partnership with Dubai Investment Group LLC and KOP Capital Pte Ltd. Hwa Hong Profit after taxation rose by more than $82.8 million in continues to explore real estate investment on its cover 2007, to $104.2 million, due primarily to earnings at the own as well as through established relationships with Rivergate project. Construction at this site, which began business partners. in 2005 in partnership with CapitaLand, is progressing according to plan and was 54.4% complete at the Revenues at Tenet Insurance Company Ltd (“Tenet”) Tenet’s 50th Anniversary Celebration end of 2007. As this venture is carried out through an grew well in the year, up over $5.4 million, or 21.3%, associate, sales at Rivergate are not reflected in our to $30.8 million. Tenet’s strategy is to offer product revenues, while income is reported directly as share innovation and high levels of service through a selected of profits in associates in our Consolidated Profit and group of intermediaries and we believe this profitable Loss Account. As profits are reported on a percentage growth is a demonstration of good execution of the strategy. 4 5 cover Annual Report 2007 HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 CHAIRMAN’S LETTER TO SHAREHOLDERS Five Year Group Financial Profile Share Price Performance 0.71 0.67 0.56 0.58 0.54 3,482.30 2,985.83ONG CORPORATION LIMITED 1,764.52 2,066.14 2,347.34 uth Bridge Road Singapore 058672 31 / 12 / 2003 31 / 12 / 2004 30 / 12 / 2005 29 / 12 / 2006 31 / 12 / 2007ebsite: www.hwahongcorp.com STI Share price Dividends per share Financial Year Endedpany Registration No. 195200130C From a governance perspective, your board focused 13.27¢ particularly on further refining risk management in 2007, and took measures in any area that had been identified inside spread as having potentially significant impact on the financial position of the Group. The board established a new committee, the Divestment and Investment Committee in mid 2007, to focus on strategic matters and act in an advisory capacity to management in terms of specific investment 1.60¢ 1.60¢ 2.22¢ 1.58¢ opportunities. 31 / 12 / 2003 31 / 12 / 2004 31 / 12 / 2005 31 / 12 / 2006 31 / 12 / 2007 inside spread Following the 2007 AGM, two long-standing directors, Mr Chew Loy Kiat and Mr Boon Suan Lee, ceased HWA HONG CORPORATION LIMITED to be directors. Both contributed considerable time and effort to the Company for many years, and I Revenue ($’000) would like to thank them for their contributions to Financial Year Ended $88,865 top & bottom: 7 Water Street Liverpool Hwa Hong. $75,910 Finally, the directors and I wish to thank our business $68,081 partners and our shareholders for their confidence, and the staff of Hwa Hong for their dedication and $53,939 performance in 2007. $46,335 cover Sincerely, Hans Hugh Miller Chairman inside spread 31 / 12 / 2003 31 / 12 / 2004 31 / 12 / 2005 31 / 12 / 2006 31 / 12 / 2007 HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 7 8 HWA HONG CORPORATION LIMITED ANNUAL REPORT 2007 inside spread

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