NWS HOLDINGS LIMITED ANNUAL REPORT 2013 ANNUAL REPORT NWS Holdings Limited (incorporated in Bermuda with limited liability) 28/F New World Tower 18 Queen’s Road Central FORGING AHEAD Central, Hong Kong Tel: (852) 2131 0600 PURSUING VALUE Fax: (852) 2131 0611 E-mail:
[email protected] www.nws.com.hk NWS Holdings Limited takes every practicable measure to conserve resources and minimize waste. ANNUAL REPORT 2013 This annual report is printed on FSC® certified paper using chemistry free plate system and soy ink. The FSC® logo identifies product group from responsible forestry in accordance with the rules of the Forest Stewardship Council®. STOCK CODE: 659 OUR VISION To build a dynamic and premier group of infrastructure and service management companies driven by a shared passion for customer value and care Contents 2 Corporate Profile 4 Major Events and Accolades 6 Financial Highlights 8 Chairman’s Statement 10 Board of Directors and Senior Management 22 Corporate Governance Report 38 Sustainability 46 Management Discussion and Analysis 62 Reports and Financial Statements 174 Five-Year Financial Summary 176 Project Key Facts and Figures 188 Glossary of Terms 190 Corporate Information Design rationale FORGING AHEAD PURSUING VALUE NWS Holdings Annual Report 2013 has adopted the image of a sailboat powerfully plowing through wind and waves to depict the Group’s clear focus to strive for excellence and enhance shareholder value. The sailboat illustrations and forward-pointing arrows reflect the concerted effort of the management and employees to develop sustainable growth Download the while undertaking corporate social NWS Holdings responsibilities, now and into Annual Report 2013 the future.