Our Focus Strengthening
Total Page:16
File Type:pdf, Size:1020Kb
SAPPHIRE CORPORATION LIMITED SAPPHIRE CORPORATION 2019 ANNUAL REPORT SAPPHIRE CORPORATION LIMITED Company Registration No. : 198502465W 3 Shenton Way #25-05 Shenton House Singapore 068805 T: (65) 6250 3838 F: (65) 6253 8585 E: [email protected] www.sapphirecorp.com.sg 2019 ANNUAL REPORT STRENGTHENING OUR FOCUS CORPORATE CONTENTS INFORMATION OVERVIEW BOARD OF DIRECTORS REGISTERED OFFICE Mr Cheung Wai Suen (Executive Chairman) 1 Robinson Road #17-00 01 Corporate Profile Ms Wang Heng (Chief Executive Officer and Executive Director) AIA Tower 02 Corporate Development Mr Oh Eng Bin (Lead Independent Director) Singapore 048542 Mr Duan Yang, Julien Tel: 6535 1944 STRATEGIC REPORT Mr Jackson Tay Eng Kiat Fax: 6535 8577 04 Chairman’s Message AUDIT AND RISK COMMITTEE SHARE REGISTRAR 06 CEO’s Review Mr Duan Yang, Julien (Chairman) Tricor Barbinder Share Registration Services Mr Oh Eng Bin (A division of Tricor Singapore Pte.Ltd.) GOVERNANCE Mr Jackson Tay Eng Kiat 80 Robinson Road #02-00 09 Board of Directors & Key Executives Singapore 068898 13 Financial Highlights NOMINATING COMMITTEE Mr Jackson Tay Eng Kiat (Chairman) PARTNER-IN-CHARGE 14 Operational and Financial Review Mr Duan Yang, Julien Teo Han Jo 19 Corporate Structure Mr Oh Eng Bin (Partner from Financial Year Ended 2018) 20 Sustainability Report Ms Wang Heng PRINCIPAL BANKERS REMUNERATION COMMITTEE Bank of Dalian Mr Oh Eng Bin (Chairman) Chengdu Rural Commercial Bank Mr Duan Yang, Julien China Construction Bank Mr Jackson Tay Eng Kiat China Minsheng Bank Fubon Bank CHIEF FINANCIAL OFFICER Mr Ng Hoi-Gee, Kit Email: [email protected] COMPANY SECRETARY Gn Jong Yuh Gwendolyn SAPPHIRE CORPORATION LIMITED 01 2019 ANNUAL REPORT CORPORATE PROFILE Sapphire Corporation Limited (“Sapphire” or the “Group”) is an investment 盛世股份有限公司(以下简称“盛世”或“盛世集团”)是一家投 management and holding company with a business model aligned towards 资管理和控股公司,其经营模式与目前中国城市化趋势保持一 urbanisation trends. Particularly, the Group is principally engaged in the 致。集团主要从事与中国陆地交通基础设施和水利环保项目相关 engineering, procurement and construction (“EPC”) business related to the land 的工程、采购和建设(“EPC”)业务。 transport infrastructure and water conservancy and environmental projects in China. 盛世在新加坡注册,于1999年在新加坡交易所主板上市。集团持 有中国公司--中铁隆控股有限公司(“中铁隆”)100%的股权,中 Sapphire is incorporated in Singapore and has been listed on the Mainboard 铁隆及其下属子公司以EPC业务为主,2015年10月1日被成功并 of the Singapore Exchange since 1999. The Group owns a 100% stake in 入盛世集团,丰厚的投资业绩使它成为了集团战略增长的主要 China-based EPC business Ranken Holding Co., Limited (“Ranken”) and its 部分。 subsidiaries, which it acquired on 1 October 2015 as part of a new growth strategy via earnings-accretive investment. 成立于1998年,中铁隆在香港注册,总部设在成都。它是一家成 熟的EPC公司,同时也是中国最大的民营城市轨道交通建设集团 Founded in 1998, Ranken is incorporated in Hong Kong and based in Chengdu. 之一。中铁隆拥有城市轨道交通行业相关的设计、监理,建设和 It is a full-fledged EPC firm and one of the largest privately owned integrated 咨询的AAA资质和执照。中铁隆擅长地铁、城市轨道交通、高速公 urban rail transport infrastructure groups in China. Ranken holds full Triple-A 路、公路桥梁以及水利和环境工程方面的项目。它在中国和南亚 qualifications and licences for design, supervision, construction and project 的重大基础设施项目中都有着良好的业绩记录。 consultation in the urban rail sector. Ranken’s expertise includes civil engineering works for metro lines, urban rail transit, expressways, roads and bridges as well 2019年中铁隆获得四川省科学技术厅颁发的”基于BIM技术的智慧 as water conservancy and environmental projects. Its track record includes 工程项目管理云平台”的科学技术成果证书和成都市武侯区工商 major infrastructure projects in China and South Asia. 业联合会颁发的光彩事业优秀企业。 In 2019, Ranken was awarded a certification from the Science and Technology Bureau of Sichuan Province for its achievement in “Intelligent Project Management Cloud Platform for BIM Technology” and a business award from Chengdu Wuhou Business Association. 02 SAPPHIRE CORPORATION LIMITED 2019 ANNUAL REPORT CORPORATE DEVELOPMENT Beijing Metro’s Changping Line JANUARY 2019 2019 • Awarded EPC Contract of RMB832 million related to a Public-Private-Partnership (“PPP”) project in Chengdu APRIL 2019 • Ranken and partners successfully secured tender bid for a design contract of a Transit-Oriented Development (“TOD”) project in Chengdu; also awarded EPC contract of approximately RMB59 million in Urumqi JUNE 2019 • Completion of a non-renounceable non-underwritten rights issue of 81,517,978 rights shares, raising net proceeds of approximately RMB50.7 million AUGUST 2019 • Injected additional RMB12.5 million in cash into the share capital of Chengdu Derun Jinlong Environmental Management Co., Ltd. 2018 APRIL 2018 OCTOBER 2019 • Strategic collaboration with Haitong International Securities • Appointment of new Independent Director, Mr Tay Eng Kiat Group (Singapore) Co., Ltd Jackson • Ranken awarded Chengdu Mayor Quality Nomination Prize (成都市市长质量提名奖) NOVEMBER 2019 • Strategic partnership with LWK + PARTNERS, a leading NOVEMBER 2018 design architecture practice headquartered in Hong Kong • Ranken and its consortium partners secured a water with a network of 11 offices around the globe, to develop treatment and municipal environmental protection PPP new design solutions and cross-share industry experience project in Chengdu, Sichuan Province, China (the “Project”) and knowledge in the TOD industry • Ranken awarded Chengdu Top 100 Private Enterprises by • Ranken awarded a certification from the Science and People’s Government of Chengdu City Technology Bureau of Sichuan Province for its achievement in “Intelligent Project Management Cloud Platform for BIM DECEMBER 2018 Technology” • Invested RMB25 million for 25% shareholding in Chengdu Derun Jinlong Environmental Management Co., Ltd., a DECEMBER 2019 company incorporated for the Project • Injected additional RMB8.75 million in cash into the • Proposed a non-renounceable non-underwritten rights issue share capital of Chengdu Derun Jinlong Environmental of up to 81,517,978 new ordinary shares at an issue price of Management Co., Ltd. S$0.128 for each Rights Share, on the basis of one (1) Rights • Ranken and Alibaba Cloud Computing entered into strategic Share for every four (4) existing ordinary shares collaboration to digitise and enhance Ranken’s project • Ranken certified as National Enterprise Technology Centre management capabilities (国家企业技术中心) • Ranken accorded a business award from Chengdu Wuhou • Ranken awarded 2018 Hua Xia Construction Science and Business Association Technology Award (2018年度华夏建设科学技术奖) by • Beijing Subway Line 8, which was designed and constructed China Architecture Design and Research Institute (中国建 by Ranken Design Institute, was shortlisted as Construction 筑设计研究院) Project of the Year by The Royal Institution of Chartered • Ranken awarded Wuhou Top 50 Private Enterprises by Surveyors People’s Government of Wuhou District • FY2019 Full Year Results – Increase in profit by 61.1% to RMB26.4 million (announced in February 2020) SAPPHIRE CORPORATION LIMITED 03 2019 ANNUAL REPORT CORPORATE DEVELOPMENT Hangzhou Project 2017 MAY 2017 • Entry into strategic partnerships with Beijing Enterprises Water Group and China Railway Investment Group to explore water treatment and municipal environmental protection projects AUGUST 2017 • Ranked certified as High-Tech Enterprise by Sichuan Competent Authorities DECEMBER 2017 • Appointment of New CEO, Ms. Wang Heng • Appointment of New Independent Directors, Mr. Oh Eng Bin • Growing Multinational Enterprise Award conferred by Chengdu Government • FY2017 Full Year Results – Secured RMB2.2 billion worth of contracts. Posts Profit of RMB31.8 million (revised in FY2018 due to accounting standards changes) MARCH 2016 2016 • Appointment of Ms Wang Heng and Mr Cheung Wai Suen as Executive Directors; their extensive experience in the engineering and construction sector is expected to benefit 2015 the Group SEPTEMBER 2015 • EGM – Obtained shareholders’ approval for Acquisition of Ranken NOVEMBER 2016 • Capital Weekly’s Listed Enterprise Excellence Award, the first by a company listed outside Hong Kong OCTOBER 2015 • Completion of Acquisition of Ranken DECEMBER 2016 • Signs SPA for disposal of 81% stake in Mancala DECEMBER 2015 (completed in February 2017) • Ranken Secures Significant Railway Infrastructure Contracts • FY2016 Full Year Results – Secured RMB1.7 billion • FY2015 Full Year Results – Revenue almost doubles on worth of contracts. Posts Profit of RMB 46.8 million three-month contributions from Ranken; Posts Profit of (announced in February 2017) RMB29.5 million (announced in February 2016) Livable River Bank Project in Chengdu 04 SAPPHIRE CORPORATION LIMITED 2019 ANNUAL REPORT CHAIRMAN’S MESSAGE Dear Shareholders, 各位股东: On behalf of the Board of Directors, I am pleased to present the Annual Report 我很荣幸代表董事会全体董事,提交盛世集团2019年度的年度报 and Audited Financial Statements of Sapphire Corporation Limited (“Sapphire” 告和经审计的财务报表。 or “the Group”) for the financial year ended 31 December 2019 (“FY2019”). 在中国2016-2020年“十三五”规划、宏观城市化趋势和环境政 With a business model aligned towards China’s macro urbanisation trends and 策改革的大环境影响下,集团的战略模式一直与国家政策保持一 environmental policies under the country’s 2016-2020 13th Five-Year Plan, the 致。作为一家在中国设立的综合性基础设施设计和建设集团,我 Group continue to focus on harnessing opportunities in new and adjacent growth 们将继续专注于开发新的增长平台,不断发掘新的商机。 platforms as an established integrated infrastructure design and construction group in China. 集团采取“双主业”战略,在中国城市化趋势中,集团的业务包 Adopting a two-prong strategy, the Group has identified new business 括: opportunities within China’s urbanisation trends as follows: 1. 与城市轨道交通相关的项目,包括传统的EPC项目,以及潜在 1. Urban railway transit related projects,