Additional Information on Directors Seeking Re-Election

Total Page:16

File Type:pdf, Size:1020Kb

Additional Information on Directors Seeking Re-Election Additional Information on Directors Seeking Re-election Name of Director Ang Kong Hua Yap Chee Keong Nagi Hamiyeh Name of Director Ang Kong Hua Yap Chee Keong Nagi Hamiyeh Date of appointment February 26, 2010 October 1, 2016 March 3, 2020 Working experience NSL The Straits Trading Company Temasek International and occupation(s) during y Executive Director y Executive Director y Senior Managing Director the past 10 years Date of last April 20, 2018 April 19, 2017 N.A. Singapore Power re-appointment y Chief Financial Officer Various Companies Age 75 59 51 y Advisor & Consultant Country of Singapore Singapore Singapore Shareholding interest principal residence Sembcorp Industries: Sembcorp Industries: No in the listed issuer and * its subsidiaries 421,900 41,700 The Board's comments N.A. N.A. N.A. * Of the 421,900 Sembcorp on this appointment Industries Shares, 336,100 shares (including rationale, selection are held in the name of criteria, and the search and DBS Nominees nomination process) Any relationship No No No Whether appointment No No No (including immediate is executive, and if so, family relationships) the area of responsibility with any existing director, existing executive officer, the issuer and / or substantial Job title Non-executive & Non-executive & Non-executive & shareholder of the listed (e.g. Lead ID, AC Chairman, issuer or of any of its AC Member etc.) Independent Director Independent Director Non-independent Director principal subsidiaries Chairman Chairman y Executive Committee y Audit Committee Conflict of interest No No No y Executive Resource & Member (including any competing business) Compensation Committee y Risk Committee y Nominating Committee y Technology Advisory Panel Undertaking Yes Yes Yes (in the format set out in Appendix 7.7) under Professional BSc (Honours) in BAcc from the National Master of Science degree Rule 720(1) has been qualifications Economics from the University of Singapore in Civil and Environmental submitted to the listed issuer University of Hull, UK and a fellow of the Engineering from the Institute of Singapore Massachusetts Institute Chartered Accountants of Technology and CPA Australia Bachelor of Science degree in Civil Engineering from the University of Texas 280 Sembcorp Industries Annual Report 2019 Sembcorp Industries Annual Report 2019 281 Additional Information on Directors Seeking Re-election Other Principal Commitments Including Directorships Information required pursuant to Listing Rule 704(7) Name of Director Ang Kong Hua Yap Chee Keong Nagi Hamiyeh Name of Director Ang Kong Hua Yap Chee Keong Nagi Hamiyeh Past y Global Logistic Properties y ACRA y Tana Africa Capital a. Whether at any time during the last 10 years, an application No No No (for the last 5 years) y ARA Asset Management y Tana Africa Investment or a petition under any bankruptcy law of any jurisdiction was y CityNet Infrastructure Managers filed against him or against a partnership of which he was Management a partner at the time when he was a partner or at any time y InterOil Corporation within 2 years from the date he ceased to be a partner? y Malaysian Smelting Corporation b. Whether at any time during the last 10 years, an application No No No y Public Accountants or a petition under any law of any jurisdiction was filed against Oversight Committee, an entity (not being a partnership) of which he was a director ACRA or an equivalent person or a key executive, at the time when y The Straits Trading he was a director or an equivalent person or a key executive Company of that entity or at any time within 2 years from the date y Tiger Airways Holdings he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of Present Listed companies Listed companies Listed companies that entity or, where that entity is the trustee of a business y Sembcorp Industries y Sembcorp Industries y Sembcorp Industries trust, that business trust, on the ground of insolvency? y Southern Steel y Olam International y Olam International Others y Shangri-La Asia Others c. Whether there is any unsatisfied judgment against him? No No No y Action Precision Holdings Others y Dream International y Agrimax y Certis CISCO Security y Lebanese International d. Whether he has ever been convicted of any offence, No No No y Barghest Building y Citibank Singapore Finance Executives in Singapore or elsewhere, involving fraud or dishonesty Performance y Ensign Infosecurity y Sheares Healthcare Group which is punishable with imprisonment, or has been the y Bioimmunate Technologies y Mediacorp subject of any criminal proceedings (including any pending y Foamtec International Co y The Assembly of Christians criminal proceedings of which he is aware) for such purpose? y GIC of Singapore y GLP Holdings e. Whether he has ever been convicted of any offence, No No No in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? f. Whether at any time during the last 10 years, judgment has No No No been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? g. Whether he has ever been convicted in Singapore or No No No elsewhere of any offence in connection with the formation or management of any entity or business trust? h. Whether he has ever been disqualified from acting as a No No No director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? 282 Sembcorp Industries Annual Report 2019 Sembcorp Industries Annual Report 2019 283 Additional Information on Directors Seeking Re-election Shareholding Statistics As at March 4, 2020 Information required pursuant to Listing Rule 704(7) (cont’d) Statistics of Shareholders Name of Director Ang Kong Hua Yap Chee Keong Nagi Hamiyeh Issued and fully paid-up capital: S$565,571,683.28 Number of issued shares: 1,787,547,732 i. Whether he has ever been the subject of any order, judgment No No No Number / percentage of treasury shares: 4,834,276 (0.27%) or ruling of any court, tribunal or governmental body, Number of shareholders: 39,548 permanently or temporarily enjoining him from engaging Class of shares: Ordinary shares with equal voting rights1 in any type of business practice or activity? Shareholdings Held by the Public 2 j. Whether he has ever, to his knowledge, been concerned Based on information available to the company as of March 4, 2020, 50.34% of the issued ordinary shares of the company is held with the management or conduct, in Singapore or elsewhere, by the public and therefore, the company has complied with Rule 723 of the SGX-ST Listing Manual. of the affairs of: Substantial Shareholder i. any corporation which has been investigated for a breach No No No 2 of any law or regulatory requirement governing Substantial Shareholder Direct Interest Indirect Interest Total % corporations in Singapore or elsewhere; or Temasek Holdings (Private) Limited 871,200,328 12,718,7603 883,919,088 49.58 ii. any entity (not being a corporation) which has been No No No investigated for a breach of any law or regulatory Top 20 Shareholders requirement governing such entities in Singapore or No. of Ordinary elsewhere; or No. Name Shares Held %2 iii. any business trust which has been investigated for a No No No 1 Temasek Holdings (Private) Limited 871,200,328 48.87 breach of any law or regulatory requirement governing 2 Citibank Nominees Singapore Pte Ltd 180,054,053 10.10 business trusts in Singapore or elsewhere; or 3 DBS Nominees Pte Ltd 162,998,536 9.14 4 DBSN Services Pte Ltd 64,127,429 3.60 iv. any entity or business trust which has been investigated No No No 5 Raffles Nominees (Pte) Ltd 41,398,430 2.32 for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore 6 HSBC (Singapore) Nominees Pte Ltd 34,943,861 1.96 or elsewhere, 7 United Overseas Bank Nominees Private Limited 23,804,498 1.33 8 OCBC Nominees Singapore Private Limited 11,680,376 0.65 in connection with any matter occurring or arising during that period when he was so concerned with the entity 9 Startree Investments Pte Ltd 9,400,000 0.53 or business trust? 10 OCBC Securities Private Ltd 8,647,706 0.48 11 UOB Kay Hian Private Limited 6,408,263 0.36 k. Whether he has been the subject of any current or past No No No 12 Phillip Securities Pte Ltd 5,521,498 0.31 investigation or disciplinary proceedings, or has been 13 Maybank Kim Eng Securities Pte Ltd 5,453,801 0.31 reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, 14 Tang Kin Fei 4,746,612 0.27 exchange, professional body or government agency, 15 CGS-CIMB Securities (Singapore) Pte Ltd 4,464,959 0.25 whether in Singapore or elsewhere? 16 Heng Siew Eng 3,717,000 0.21 17 BPSS Nominees Singapore (Pte.) Ltd.
Recommended publications
  • Olam International
    Singapore Company Guide Olam International Version 6 | Bloomberg: OLAM SP | Reuters: OLAM.SI Refer to important disclosures at the end of this report DBS Group Research . Equity 16 May 2017 HOLD Holding tight Last Traded Price ( 15 May 2017): S$1.99 (STI : 3,264.21) Limited upside for now. We maintain our HOLD call on Olam Price Target 12-mth: S$2.15 (8% upside) (Prev S$2.12) International (Olam) with a revised TP of S$2.15. Olam appears to have successfully integrated the US$1.2bn acquisition of ADM Analyst Cocoa, and is on track to achieve positive free cash flow to Mervin SONG CFA +65 6682 3715 [email protected] firm/equity by the year end. However, with limited upside to our TP, we believe the stock will remain range bound. In addition, with return on equity (ROE) still suboptimal, a re-rating beyond its What’s New average PE multiple of 16x implied by our TP is unlikely at this 1Q17 core profit up 4% y-o-y, in line with stage. expectations Where we differ – Sell calls unwarranted. Consensus has sell Strong contribution from Edible Nuts and Food ratings on Olam, which we believe is unwarranted. While Olam Staples divisions faces the challenges of declining cocoa prices and softer cocoa processing margins this year and still generates suboptimal Positive free cashflow stronger in 1Q17, on track returns, we believe the company should deliver decent EPS to achieve positive free cashflow to equity by year growth this year, given strong performance from Edible Nuts and end recovery at its Food Staples division.
    [Show full text]
  • Annual Report 2018Opens in New Window
    DARE TO EVOLVE STARHUB LTD Annual Report 2018 Staying at the forefront of the industry requires us to constantly grow and evolve, and this priority has never been clearer. This year, we have engaged in an organisation-wide journey of transformation, backed by our strategic pillars to DARE: Deliver Market- Leading Customer Experiences, Accelerate Value Creation, Realise New Opportunities, and Enhance Digital Transformation. This year, our commitment to become more effective and efficient has grown stronger than ever before. This year, our journey has been made possible because we DARE to Evolve. CORPORATE PROFILE VISION MISSION CORE VALUES StarHub is a leading Inspiring Digital Innovation Leading, innovative ExCITe: homegrown Singapore – Improving the lives of our provider of communications, Excellence, company that delivers world- customers daily. information and Creativity, class communications, entertainment services, Integrity, entertainment and digital enabling consumers and Teamwork solutions. enterprises in Singapore to benefit from digital transformation. OVERVIEW WHAT’S IN STORE As an integrated infocommunications company, we create value when we integrate our relationships with all stakeholders. For more details, go to page 18 > STRATEGY STRATEGY OVERVIEW At a Glance 10 STRATEGY Chairman’s Message 12 Significant Events 16 Value Creation 18 Enhancing the Customer Experience 20 Board of Directors 22 In Discussion with Senior Executives 28 PERFORMANCE Senior Executives’ Profiles 38 PERFORMANCE Consumer Hubbing in Review Consumer
    [Show full text]
  • Olam International
    Singapore Company Guide Olam International Version 7 | Bloomberg: OLAM SP | Reuters: OLAM.SI Refer to important disclosures at the end of this report DBS Group Research . Equity 1 Mar 2018 HOLD Positives priced in for now Last Traded Price ( 28 Feb 2018): S$2.25 (STI : 3,517.94) Limited upside for now. We maintain our HOLD call on Olam Price Target 12-mth: S$2.31 (3% upside) (Prev S$2.15) International (Olam) with a revised TP of S$2.31. Olam appears Analyst to have successfully integrated the US$1.2bn acquisition of Mervin SONG, CFA +65 6682 3715 [email protected] ADM Cocoa, and has achieved its target of positive free cash flow to firm/equity by end FY17. However, with limited upside to our TP, we believe the stock will remain range bound. In What’s New addition, with return on equity (ROE) still suboptimal, a re-rating • FY17 core profit up 23% y-o-y - above expectations beyond its average PE multiple of 16x implied by our TP is • Better than expected performance from edible nuts unlikely at this stage. • Achieves target of positive free cashflow to firm and Where we differ – Sell calls unwarranted. Consensus has sell equity ratings on Olam, which we believe is unwarranted. While Olam • Rewards shareholders with higher FY17 DPS of 7.5 Scts, still generates suboptimal returns, we believe the company up from 6.0 Scts in FY16 should deliver healthy 8% EPS growth in 2018, given continued maturity of the upstream assets, growth of in its Edible Nuts and recovery at its Confectionary & Beverage division.
    [Show full text]
  • Annual Report 2018 Re-Imagining Olam
    Strategy Report Olam International Annual Report 2018 Re-imagining Olam Offering tomorrow’s products and services Strategy Report Olam International Limited Annual Report 2018 olamgroup.com About this report Contents Strategy Report Strategy report This chapter offers narrative about our strategy, our 2 Our financial and performance and key market factors and trends. It can be performance highlights read independently as an 8 Chairman’s letter Executive Summary or as part of the full report. 10 Group CEO review 26 Our business model Governance Report This section gives detailed 28 Our strategy in action information about our rigorous governance framework and those 40 Group COO review responsible for ensuring it is 76 Manufactured Capital followed. Shareholder information is also held within this chapter. 80 Human Capital 85 Social Capital Financial Report 92 Natural Capital Our figures and respective notes are enclosed within this chapter. 101 Intellectual Capital It should be read in conjunction 104 Intangible Capital with the Strategy Report to give a balanced account of internal and Integrated Impact external factors. 108 Statement 111 Engaging stakeholders 114 Risk Management 118 General information Navigating the Strategy Report Our Value Chain Edible Nuts Confectionery Food Industrial Raw Commodity and Spices and Beverage Staples and Materials, Financial Ingredients Packaged Infrastructure Services Foods and Logistics Our Capitals Front cover image: At Olam Spices’ Innovation and Quality Centre in Fresno, California, USA, Hein Tran
    [Show full text]
  • Corporate Governance Case Studies Volume Three
    CORPORATE GOVERNANCE CASE STUDIES VOLUME THREE Edited by Mak Yuen Teen Corporate Governance Case Studies Volume three Mak Yuen Teen FCPA (Aust.) Editor First published October 2014 Copyright ©2014 Mak Yuen Teen and CPA Australia. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, except for inclusion of brief quotations in a review. The views expressed in this publication are those of the authors and do not necessarily represent the views of, and should not be attributed to, CPA Australia Ltd. Please contact CPA Australia or Professor Mak Yuen Teen for permission of use of any case studies in this publication. Corporate Governance Case Studies Volume Three Editor : Mak Yuen Teen FCPA (Aust.) Editor’s email : [email protected] Published by : CPA Australia Ltd 1 Raffles Place #31-01 One Raffles Place Singapore 048616 Website : cpaaustralia.com.au Email : [email protected] ISBN : 978-981-09-1544-5 II Contents Contents III Foreword V Preface VII Singapore Cases Airocean in Choppy Waters ...............................................................................1 A Brewing Takeover Battle for F&N ..................................................................10 Hong Fok Corporation: The Badger and The Bear............................................20 Olam in Muddy Waters ....................................................................................29
    [Show full text]
  • Wilmar International Limited 56 Neil Road
    Wilmar International Limited Olam International Limited 56 Neil Road 9 Temasek Boulevard Singapore 088830 #11-02 Suntec Tower Two Tel: (65) 6216-0244 Singapore 038989 Fax: (65) 6223-6635 telephone 65 63394100 Website: www.wilmar-international.com website www.olamonline.com Regn. No. 199504676-H NEWS RELEASE WILMAR AND OLAM TO FORM A 50:50 JOINT VENTURE, NAUVU INVESTMENTS, TO INVEST IN INTEGRATED PALM OIL, NATURAL RUBBER AND SUGAR ASSETS IN AFRICA Nauvu announces 3 investments totalling approximately S$300 million (US$209 million) as its first major initiative Singapore, November 15, 2007 - Wilmar International Limited (“Wilmar’”) and Olam International Limited (“Olam”) today announced the formation of a 50:50 joint venture named Nauvu Investments (“Nauvu”). This Joint Venture will invest in integrated palm oil, natural rubber and sugar assets in Africa, including upstream plantations, midstream processing and downstream merchandising and distribution operations. As a first step towards fulfilling this mandate, Nauvu will make three important investments: 1. Acquisition of a 25% strategic stake in SIFCA Group, one of Africa’s largest agro industrial groups with diversified interests across palm oil, cotton seed oil, natural rubber and sugar sectors in Africa. SIFCA is the largest player in the palm oil and rubber industry in West Africa and the second largest in the sugar sector in Cote d’Ivoire. The indicative acquisition price for this stake is EUR 90 million (approximately S$190 million or US$132 million), of which EUR 86 million will be paid upfront with the remaining EUR 4 million to be paid on a contingent earn-out basis over three years.
    [Show full text]
  • Analytical Report 'Analytical Study of the Success Factors Russian High
    Analytical studyStatement of ofthe problem. Limitations and Assumptions the success factors Russian high-tech companies in Singapore Contents Statement of the problem. Limitations and Assumptions 3 Introduction 3 Goal of the study 4 Assumptions and Limitations 5 Disclaimer 6 Objectives of the study 6 Description of the research methodology 7 Framework 7 Questionnaire Design 9 Data Processing 14 The selection and characterization of respondent companies 14 The results of the study and comparative data 16 Failed Companies 27 Conclusion 27 The structure of the business ecosystem in Singapore 29 Government 31 Specific organisational features of small and medium enterprises in Singapore 34 Government Agencies 38 Entrepreneurship Stimuli 39 Entrepreneurship Assistance 44 Entrepreneurship Incentives 46 Features of the national business 52 A few general facts 58 A few random recommendations 59 Cooperation of Republic of Singapore and Russian Federation 62 Conclusions and recommendations 70 Appendix 1: Questionnaire 77 Appendix 2: Aggregated Survey Results 83 Appendix 3: Government Links 83 Appendix 4: Russian Organisations and Communities in Singapore 85 Appendix 5. List of references 86 2 Statement of the problem. Limitations and Assumptions Statement of the problem. Limitations and Assumptions Introduction Most people do not quite realize the dynamics of economic development of Singapore and importance of this small island’s city-sate for the global economy. Singapore, which is in the running to be the world’s fastest- growing economy, is the nation with the most business-friendly regulation, according to the World Bank’s 2013 Doing Business Reporti. In 2012, World Bank ranked Singapore the first in terms of ease of doing business, trading across the borders and the second in terms of protecting investors, in Economy Ranking.
    [Show full text]
  • Olam International
    Olam International Olam International is a leading and the third largest agri-business in the world, operating from seed to Olam International shelf in 70 countries, supplying food and industrial raw materials to over 23,000 customers worldwide.[1] Limited Olam is one of the world’s largest suppliers of cocoa beans and products, coffee, cotton and rice.[2] Contents History Type Public company Move to Singapore Traded as SGX: O32 (https://sg IPO .finance.yahoo.com/ Post IPO q?s=O32.SI&m=SI) Deforestation-linked palm oil, cocoa, and rubber Industry Agri-business Muddy Waters allegations Founded Nigeria (1989) Forced evictions and land clearance in Laos Headquarters Singapore, See also Singapore References Key people Kwa Chong Seng External links (Chairman) Sunny George History Verghese (CEO) Revenue S$20,587.0 million Since it was established in 1989, Olam has evolved from a single-product, single-country geography, to a (2016)[1] [3] multi-product, multi-national, agri-business today, with 70,000 employees, contract, seasonal and Operating S$1,202.8 million temporary workers from 70 different nationalities. income (2016) [1] Net income S$363.800 million In 1989, the Kewalram Chanrai Group established Olam Nigeria Plc to set up a non-oil based export (2016) [1] operation out of Nigeria to secure hard currency earnings to meet the foreign exchange requirements of the other Group Companies operating in Nigeria. The success of this operation resulted in Olam Total assets S$15,173.208 million establishing an independent export operation and sourcing and exporting other agricultural products. The (2016) [1] Group's agri-business was headquartered in London and operated under the name of Chanrai International Limited.
    [Show full text]
  • Offer Information Statement
    NOT FOR DISTRIBUTION IN THE UNITED STATES OFFER INFORMATION STATEMENT DATED 30 JUNE 2021 (LODGED WITH THE MONETARY AUTHORITY OF SINGAPORE ON 30 JUNE 2021) THIS DOCUMENT IS IMPORTANT. BEFORE MAKING ANY INVESTMENT IN THE NIL-PAID RIGHTS (AS DEFINED HEREIN) OR RIGHTS SHARES (EACH AS DEFINED HEREIN) BEING OFFERED, YOU SHOULD CONSIDER THE INFORMATION PROVIDED IN THIS DOCUMENT CAREFULLY, AND CONSIDER WHETHER YOU UNDERSTAND WHAT IS DESCRIBED IN THIS DOCUMENT. YOU SHOULD ALSO CONSIDER WHETHER AN INVESTMENT IN THE NIL-PAID RIGHTS OR RIGHTS SHARES BEING OFFERED IS SUITABLE FOR YOU, TAKING INTO ACCOUNT YOUR INVESTMENT OBJECTIVES AND RISK APPETITE. IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISER. YOU ARE RESPONSIBLE FOR YOUR OWN INVESTMENT CHOICES. A copy of this offer information statement (the “Offer Information Statement”), together with a copy of each of the ARE, ARS and PAL (each as defined herein), has been lodged with the Monetary Authority of Singapore (the “Authority”). The Authority assumes no responsibility for the contents of this Offer Information Statement, the ARE, ARS and PAL. Lodgement of this Offer Information Statement with the Authority does not imply that the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”) or any other legal or regulatory requirements, have been complied with. The Authority has not, in any way, considered the merits of the Nil-Paid Rights or the Rights Shares being offered for investment. Approval in-principle has been obtained from Singapore Exchange Securities Trading Limited (“SGX-ST”) for the listing and quotation of the Rights Shares on the Main Board of the SGX-ST, subject to certain conditions.
    [Show full text]
  • Winners and Nominees IR Magazine Awards – South East Asia 2019
    IR Magazine Awards – South East Asia 2019 Winners and nominees AWARDS BY RESEARCH Best investor relations officer (large cap) Bangkok Dusit Medical Services Ajaya Intaraprasong & Chama Vijitsathean CP All Jiraphan Thongtan WINNER PETRONAS Dagangan Nur Asyirin Ibrahim Singtel Group Sin Yang Fong United Overseas Bank Stephen Lin Best investor relations officer (small to mid-cap) Century Pacific Food Giovanna Vera Frasers Centrepoint Trust Fung-Leng Chen Manulife US REIT Caroline Fong WINNER Metro Pacific Investments Corporation Maricris Aldover-Ysmael AWARDS BY COUNTRY Best in country: Indonesia Bank BTN Bank Central Asia Bank Rakyat Indonesia (Persero) WINNER Sarana Menara Nusantara Best in country: Malaysia PETRONAS Chemicals Group PETRONAS Dagangan WINNER Sunway Group Best in country: Philippines Ayala Land Century Pacific Food Globe Telecom Metro Pacific Investments Corporation WINNER PLDT Semirara Mining & Power Corporation Best in country: Singapore CapitaLand City Developments Frasers Centrepoint Trust Manulife US REIT WINNER Singtel Group Best in country: Thailand Bangkok Dusit Medical Services WINNER CP All Home Product Center PTT Exploration & Production Thai Union Group AWARDS BY NOMINATION Best overall investor relations (large cap) Ayala Corporation Ayala Land CapitaLand WINNER PTT Exploration & Production United Overseas Bank Best overall investor relations (mid-cap) CapitaLand Mall Trust Management City Developments KASIKORNBANK Olam International Thai Union Group WINNER UOL Group Best overall investor relations (small cap)
    [Show full text]
  • Towards a Greener Future
    Towards a Greener Future Sembcorp Industries Annual Report 2020 Sembcorp’s purpose and passion is to do good and play our part in building a sustainable future. Our vision is to be a leading provider of sustainable solutions – supporting development and creating value for our stakeholders and communities. Environmental, Social and Consolidated Overview Governance Review Financial Statements Group FY2020 Highlights 1 Sustainability Report 35 Directors’ Statement 74 Chairman and CEO’s Statement 2 y About this Report 35 Independent Auditors’ Report 84 Supporting a Renewables Future 6 y Managing Sustainability 38 Balance Sheets 90 – Our Sustainability Framework 38 Consolidated Income Statement 92 – Supporting the SDGs 39 Consolidated Statement Operating and Financial Review of Comprehensive Income 93 – Sustainability Governance 39 Consolidated Statement – Memberships and Associations 39 Group Financial Review 8 of Changes in Equity 94 y Our Material ESG Issues 40 y Financial Highlights 8 Consolidated Statement Enabling a Low-carbon of Cash Flows 98 y Five-year Financial Performance 10 and Circular Economy 40 Notes to the Financial Statements 101 y Value Added and Productivity Data 12 – Climate Change y Treasury Management 14 – Resource Management Energy Review 16 – Local Environmental Protection Other Information Urban Review 22 Empowering Our People and Communities 43 Additional Information on – Health and Safety Directors Seeking Re-election 222 Our Leadership – People Shareholding Statistics 226 – Community Corporate Information 228 Board
    [Show full text]
  • Olam International
    Singapore Company Guide Olam International Version 6 | Bloomberg: OLAM SP | Reuters: OLAM.SI Refer to important disclosures at the end of this report DBS Group Research . Equity 16 May 2017 HOLD Holding tight Last Traded Price ( 15 May 2017): S$1.99 (STI : 3,264.21) Limited upside for now. We maintain our HOLD call on Olam Price Target 12-mth: S$2.15 (8% upside) (Prev S$2.12) International (Olam) with a revised TP of S$2.15. Olam appears to have successfully integrated the US$1.2bn acquisition of ADM Analyst Cocoa, and is on track to achieve positive free cash flow to Mervin SONG CFA +65 6682 3715 [email protected] firm/equity by the year end. However, with limited upside to our TP, we believe the stock will remain range bound. In addition, with return on equity (ROE) still suboptimal, a re-rating beyond its What’s New average PE multiple of 16x implied by our TP is unlikely at this 1Q17 core profit up 4% y-o-y, in line with stage. expectations Where we differ – Sell calls unwarranted. Consensus has sell Strong contribution from Edible Nuts and Food ratings on Olam, which we believe is unwarranted. While Olam Staples divisions faces the challenges of declining cocoa prices and softer cocoa processing margins this year and still generates suboptimal Positive free cashflow stronger in 1Q17, on track returns, we believe the company should deliver decent EPS to achieve positive free cashflow to equity by year growth this year, given strong performance from Edible Nuts and end recovery at its Food Staples division.
    [Show full text]