DOCSLIB.ORG

St-Engineering-Annual-Report-2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
St-Engineering-Annual-Report-2017 ENGINEERING YOUR FUTURE ST ENGINEERING GROUP OVERVIEW ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. Incorporated in 1997 and headquartered in Singapore, we rank among the largest companies listed on the Singapore Exchange, and are one of Asia’s leading engineering groups. Our global network of subsidiaries and associated companies, supported by a workforce of about 22,000, allow us to serve customers in Asia, the NORTH AMERICA Americas, Europe, and Oceania. A leader in each of our core businesses, ST Engineering brings innovation and technology together to create multi-disciplinary smart engineering solutions for customers in the defence, government and commercial segments. Our Aerospace sector offers a wide spectrum of aircraft maintenance, engineering and training services for both military and commercial aircraft operators. These services include airframe, component and engine maintenance, repair and overhaul, engineering design and development, materials support, asset management and pilot training. Our Electronics sector specialises in the design, development and integration of advanced electronics and communications systems across all industries and SOUTH AMERICA segments. Aerospace Our Land Systems sector delivers customised land Electronics systems, security solutions and their related through- Land Systems life support for defence, homeland security and Marine commercial applications. Our Marine sector provides turnkey and sustainable For our complete Group structure, defence and commercial solutions in the marine, please refer to www.stengg.com. offshore and environmental engineering industries. contents Financial Highlights / 2 Letter to Shareholders / 4 Board of Directors / 14 Senior Management / 20 Group Highlights / 22 ABOUT Operating Review & Outlook / 32 Investor Relations / 66 Awards / 68 22,000 Corporate Information / 70 Sustainability Report / 71 EMPLOYEES Corporate Governance / 88 Financial Report / 117 ANNUAL REPORT 2017 EUROPE ASIA MIDDLE EAST AFRICA SINGAPORE AUSTRALIA ACROSS IN 44 22 CITIES COUNTRIES 1 ST ENGINEERING FINANCIAL HIGHLIGHTS GROUP REVENUE ($b) $6.62b OPERATING CASH FLOW ORDER BOOK -1.0% 6.68 6.63 6.62 $0.76b $13.2b 6.54 6.34 +0.6% +14.0% EARNINGS PER SHARE DIVIDEND PER SHARE '13 '14 '15 '16 '17 16.43¢ 15.0¢ PBT ($m) +5.3% $623.3m +5.5% RETURN ON EQUITY RETURN ON SALES 729.7 650.7 623.3 630.3 22.9% 8.1% 590.6 +0.7% PTS +0.7% PTS FY2017 vs FY2016 '13 '14 '15 '16 '17 NET PROFIT ($m) REVENUE BREAKDOWN $511.9m 35% +5.6% Defence 21% USA BY BY 580.8 532.0 529.0 511.9 CUSTOMER LOCATION OF 11% 484.5 TYPE CUSTOMERS Europe 61% Asia 7% Others 65% Commercial '13 '14 '15 '16 '17 2 ANNUAL REPORT 2017 AEROSPACE ELECTRONICS LAND SYSTEMS MARINE REVENUE ($b) REVENUE ($b) REVENUE ($b) REVENUE ($b) $2.54b $2.11b $1.24b $0.64b +2.0% +11.8% -10.5% -24.2% 1.34 2.11 1.55 2.54 2.48 1.47 1.46 1.24 1.88 1.39 2.08 2.09 2.06 1.71 1.24 1.65 1.58 0.96 0.84 0.64 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 PBT ($m) PBT ($m) PBT ($m) PBT ($m) $317.8m $212.3m $85.0m $22.4m +5.8% +2.2% +119.4% -70.2% 319.4 317.8 212.3 146.3 103.0 207.8 300.3 290.6 191.0 283.0 85.0 184.0 122.8 170.3 73.3 88.3 57.8 75.1 22.4 38.8 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 NET PROFIT ($m) NET PROFIT ($m) NET PROFIT ($m) NET PROFIT ($m) $244.1m $178.8m $87.4m $27.0m +4.1% +2.4% +243.3% -60.1% 87.4 84.9 110.0 259.2 178.8 108.1 174.5 244.1 234.4 163.0 226.7 152.1 220.1 85.7 137.1 62.6 67.8 51.5 25.5 27.0 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 '13 '14 '15 '16 '17 3 ST ENGINEERING LETTER TO SHAREHOLDERS Kwa Chong Seng Vincent Chong Chairman President & CEO Dear Shareholders, revenue lowered by 11% to $1.24b, its PBT was up 119% to $85.0m Global GDP growth increased in 2017 due to the absence of the prior to over 3%, but business recovery was year’s impairment of asset carrying not uniform across sectors. In a year values and the provision of closure that presented both opportunities costs for its subsidiaries in China. and challenges, we closed 2017 with Consequently, its Net Profit improved a Group revenue of $6.62b, broadly 243% to $87.4m, also contributed by comparable to the $6.68b posted in the positive impact of the tax reform 2016. With a continued focus on cost, effects in the US. The Marine sector's we fared better in profits. Both Profit revenue was 24% lower at $637m, Before Tax (PBT) of $623.3m and and its PBT was down 70% at $22.4m, Profit Attributable to Shareholders due mainly to the weak industry (Net Profit) of $511.9m were 6% conditions and its US operations. higher compared to 2016. As a result, its Net Profit came down 60% lower at $27.0m from the year At the business sector level, the before. Aerospace sector’s revenue was 2% higher at $2.54b, its PBT was $317.8m The Group’s revenue mix by business and Net Profit was $244.1m, up sector shifted slightly. While the 6% and 4% respectively from 2016. Aerospace sector was still the largest Revenue for the Electronics sector contributor at 38%, the Electronics was 12% higher at $2.11b, its PBT and sector’s contribution increased to Net Profit were $212.3m and $178.8m 32%. The Land Systems and the respectively, both up 2% from 2016. Marine sectors contributed 19% and At the Land Systems sector, while its 10% respectively, with the remainder 4 ANNUAL REPORT 2017 under “Others”. Geographically, share paid in August 2017, the total business units in Asia including dividend for the full year will be 15 Singapore, contributed 72% to Group cents per share, representing a total revenue, while our business units payout of $468m to our shareholders. “ in the US and Europe generated The dividend yield for 2017 is 4.6% OUR FOUR SECTORS 18% and 8% of Group revenue compared to 4.8% for 2016. REMAIN STRONG, WITH respectively. Revenue split between Commercial and Defence remained ESTABLISHED MARKET stable at 65%:35%. Pursuing growth through POSITIONS THAT HELP innovation The Group’s return on equity was US MEET THE CHALLENGES 22.9% and our earnings per share As a technology, defence and AND“ GROW THE BUSINESS. amounted to 16.43 cents. engineering Group, we need to keep pace with the speed of technology The Group’s revenue pipeline remains and market changes to develop new healthy, with an order book of $13.2b, and innovative solutions for our about 14% higher than the year customers. This is why ST Engineering before. We expect to deliver about has consistently been making $3.8b of the order book in 2018. strategic R&D investments in key disciplines and technologies within Our capital expenditure was our core business sectors. $273m compared to $252m in FY2016. A significant portion of this However, we want to raise our expenditure was deployed in the innovation quotient even further. To investment in Janus Technologies, Aerospace sector. We expanded our that end, we have actively promoted a US-based endpoint cybersecurity facility in Dresden, Germany with a greater innovative culture especially provider, which helped ST Electronics a new single-bay wide-body hangar among engineers to experiment launch its Black Computer, an to take on an expanding A330- and venture beyond their comfort industry-first hardware-based 300 Passenger-to-Freighter (P2F) zones. We have also adopted open cybersecurity solution. conversion programme for DHL innovation by providing a dynamic Express. We also invested in a innovation platform and springboard Separately, we acquired Aethon, a new facility for composite panels for collaboration in new and US-based provider of autonomous production in Kodersdorf, Saxony. disruptive technologies. mobile robots (AMRs) which has This facility will manufacture deployed its AMRs in more than lightweight components, mainly In 2017, we launched an Open 200 sites globally, including in 140 floor panels and cargo linings, to Innovation Lab (Open Lab), an hospitals in the US. The acquisition meet the needs of Airbus' growing engineering-based incubator that has since allowed us to develop production of single-aisle aircraft. is first of its kind in Singapore. The new applications based on a Open Lab has participation from our proven robotic solution for indoor We generated a strong cash flow of own engineers as well as individuals applications for the healthcare, $764m from operations and ended and start-ups from outside the industrial and hospitality sectors. the year with $1.3b of cash and cash Group. They come together to co- equivalents, including funds under create and innovate while receiving It is still early days, but the creation management. We are committed to funding support, access to advanced of the Open Lab and investments maximising cash flow, maintaining lab equipment, and go-to-market in Janus, Aethon and the likes capital discipline and improving facilitation etc. have already value-added and value and returns. strengthened the larger Group’s We also set up a Corporate Venture core technological and engineering Your Board of Directors proposes a Capital unit with US$150m open- capabilities by complementing final dividend of 10 cents per share ended fund to invest in promising existing R&D efforts in our sectors for this financial year.
Load more

Recommended publications
  • Singapore Supplementary Budget
    Singapore Market Focus Singapore Supplementary Budget Refer to important disclosures at the end of this report DBS Group Research . Equity 27 Mar 2020 Unprecedented anti-viral boost STI : 2,487.56 • Dishing out total handouts of S$55bn, a whopping 11% of GDP • Significant cost savings of 4% cushions STI earnings decline to 5% for 2020F Analyst • Booster shot to Aviation-related, hospitality and retail sectors Janice CHUA +65 6682 3692; [email protected] • Key beneficiaries are SATS, SIA Engineering, Genting, Starhub, MINT, Kee Yan YEO, CMT +65 6682 3706; [email protected] UOB, OCBC Andy SIM, CFA +65 6682 3718; [email protected] Dipping into reserves for an unprecedented relief package. The Singapore Research Team; [email protected] government’s relief package of S$48bn is generous and timely, blowing market expectations. Including February’s Care and Share package of Key Indices S$6bn, the total handout of S$55bn represents an unprecedented 11% of Current % Chng GDP, and more than double the relief package of S$20.5bn dished out STI Index 2,487.56 -0.7% during the Global Financial Crisis. Aimed at saving jobs and supporting FS Small Cap Index 244.02 4.5% industries, this will cushion the recessionary impact as Singaporeans brave USD/SGD Curncy 1.43 -0.1% through this dark period. The impact is broad based, benefiting both Daily Volume (m) 445 consumers and corporates. Daily Turnover (S$m) 676 Lifeline for aviation-related and hospitality industries, which are directly hit Daily Turnover (US$m) 473 by COVID-19. The absence of tourists with several countries in lockdown Source: Bloomberg Finance L.P.
    [Show full text]
  • Operating and Financial Review
    OPERATING AND FINANCIAL REVIEW > The SingTel Group is Asia’s leading communications group. We provide a wide spectrum of multimedia and ICT solutions, including voice, data and video services over fixed and wireless platforms. The Group is structured along three key businesses: Group Consumer, Group Digital L!fe and Group ICT. Our main operations are in Singapore and Australia. In Singapore, SingTel has more than 130 years of operating experience and played an integral part in the country’s development as a major communications hub. We continue to lead and shape the digital consumer market and the enterprise ICT market. Optus is an Australian leader in integrated telecommunications, driving competition and delivering innovative products and services to customers. We are a major player in Asia and Africa through our strategic investments in six regional mobile operators. The Group’s investments are in AIS (Thailand), Globe (the Philippines), PBTL (Bangladesh), Telkomsel (Indonesia) and Warid (Pakistan). We also have investments in Airtel (India), which has significant presence in Africa and South Asia. We are a long-term strategic investor and work closely with our associates to grow the business, by leveraging our scale in networks, customer reach and extensive operational experience. Together, the Group serves 445 million mobile customers as at 31 March 2012. In this section, we provide a strategic review of the SingTel Group’s operations and discuss the financial performance of the Group for the financial year ended 31 March 2012. CONTENTS
    [Show full text]
  • Recognising Our Best
    armywww.mindef.gov.sg/army newsIssue No. 190 JULY 2011 pulse of our army Singapore and US host 2 NSmen Reaffirm Commitment 9 PACC VII / PAMS XXXV NCC Turns 110! 12 Best Unit Competition Recognising Our Best armynews pulse of our army Prime Feature www.mindef.gov.sg/army Singapore & US host PACC VII / PAMS XXXV Story by Jonathan Chan and Jared Yeo / Photography by Matthew Tan scope of PACC VII, and set the First held in Honolulu, Hawaii in 1978 with nine member stage for a fruitful conference. countries, this year's PAMS saw some 26 Asia-Pacific armies LG Wiercinski was speaking in attendance. Speaking at the opening ceremony, MG Terry on behalf of General Martin E. said, “Over 35 years, PAMS has emerged as the premier Dempsey, Chief of Staff of the forum in the region for promoting security cooperation Army, United States Army. Dr in an atmosphere of trust and mutual respect. The goal Ng also shared his thoughts is to walk away with an increased understanding of our and reflections in a keynote neighbours, their unique situations, and to communicate address, afterwhich he sym- our own perspectives to others in a professional setting.” bolically opened the confer- ence by lighting up the PACC The seminar focused on how the Asia-Pacific land forces VII / PAMS XXXV logo. should train and develop their capabilities to conduct mul- tilateral security co-operations to deal with security chal- In his address, Dr Ng said, lenges in the 21st century. “In 1999, when PACC was inaugurated, few could have For the first ime in PAMS' history, a Table-Top Exercise Dr Ng (centre) officiating at the opening of PACC VII envisaged the security envi- (TTX) was also held.
    [Show full text]
  • How Has Trump Contracting Covid-19 Affected Markets?
    SINGAPORE MARKET HOW HAS TRUMP CONTRACTING TRADING MATTERS SERIES: TRADING FLOWS COVID-19 AFFECTED MARKETS? An overview of the performance DIGITAL ENGAGEMENT TEAM of companies in the market 9 OCTOBER 2020 Straits Times Index Key Events Summary 200 Day MA 3,300 100 Day MA 2 Oct 50 Day MA 3,100 Stocks fall following Trump’s 2,900 positive virus test, but close off the 2,700 worst levels on stimulus hopes 5 Oct 2,500 Dow ends 465 09 Oct 2020: 2,300 points higher 2,532.96 after Trump cleared to leave 2,100 hospital after 3- Jan Feb Mar Apr May Jun Jul Aug Sep Oct 14 Oct night stay Singapore 3Q GDP Release Market Commentary 23 Oct • Straits Times Index current price caught between the 50 Day Moving Average (2,519.16) and 100 Day Singapore Sep Moving Average (2,573.17) CPI Release • Singapore’s GDP likely to contract at a slower pace in 3Q as stringent virus curbs were relaxed (09 Oct, Bloomberg) 30 Oct o Estimate -6.4% yoy for 3Q • CMT, CCT unit holders vote in favour of merger to SG Futures Roll form new REIT (30 Sep, The Straits Times) Date o Merger expected effective Oct 21. CCT's last day of trading expected Oct 16. • Wilmar's YKA listing to help fund 19 investment projects in China (07 Oct, The Business Times) 3 Nov o The IPO will raise 13.9b yuan (S$2.8b) US Presidential o Proposed listing slated to take place by mid- Elections Oct, subject to prevailing market conditions Data extractedfromBloomberg asof previous closing unlessotherwisestated Straits Times Index Components: Movers and Laggards TOP PERFORMING SINCE 05 OCTOBER 2020 LAST
    [Show full text]
  • New Chief of Army Takes Over Today
    New Chief of Army Takes Over Today 21 Mar 2014 Outgoing Chief of Army, Major-General Ravinder Singh (left), handing over the command symbol to the incoming Chief of Army, Brigadier-General (BG) Perry Lim. The Army welcomed its new Chief of Army Brigadier-General (BG) Perry Lim Cheng Yeow this afternoon. At the Change of Command Parade held at Pasir Laba Camp, BG Lim took over the Army's symbol of Command from the outgoing Chief of Army Major- General Ravinder Singh s/o Harchand Singh. As part of the parade, MG Singh reviewed the Guard-of-Honour made up of contingents from the Commando Formation and the 2nd People's Defence Force. The parade also included 10 marching contingents from the other Army formations and a mobile column. BG Lim, 41, joined the Singapore Armed Forces (SAF) in 1990, and was awarded the SAF (Overseas) and President's Scholarship in 1991. He holds a Bachelor of Arts (Starred First) (Mechanical Engineering) from the University of Cambridge, United Kingdom. BG Lim was also awarded the Lee Kuan Yew Postgraduate Scholarship in 2008 to pursue a Master of Business Administration in INSEAD, Singapore. In the course of his military career, he has held, amongst others, the appointments of Commanding Officer, 1st Battalion, Singapore Guards; Commander, 7th Singapore Infantry Brigade; Head, Joint Plans and Transformation Department; and Commander, 3rd Division. BG Lim was also Chairman of the Executive Committee for the National Day Parade 2013. The change of command is part of the SAF's continuing process of leadership renewal. The parade was witnessed by Chief of Defence Force Lieutenant-General Ng Chee Meng, and attended by senior SAF officers and servicemen from the Army.
    [Show full text]
  • Lee Kuan Yew Continue to flow As Life Returns to Normal at a Market at Toa Payoh Lorong 8 on Wednesday, Three Days After the State Funeral Service
    TODAYONLINE.COM WE SET YOU THINKING SUNDAY, 5 APRIL 2015 SPECIAL EDITION MCI (P) 088/09/2014 The tributes to the late Mr Lee Kuan Yew continue to flow as life returns to normal at a market at Toa Payoh Lorong 8 on Wednesday, three days after the State Funeral Service. PHOTO: WEE TECK HIAN REMEMBERING MR LEE KUAN YEW SPECIAL ISSUE 2 REMEMBERING LEE KUAN YEW Tribute cards for the late Mr Lee Kuan Yew by the PCF Sparkletots Preschool (Bukit Gombak Branch) teachers and students displayed at the Chua Chu Kang tribute centre. PHOTO: KOH MUI FONG COMMENTARY Where does Singapore go from here? died a few hours earlier, he said: “I am for some, more bearable. Servicemen the funeral of a loved one can tell you, CARL SKADIAN grieved beyond words at the passing of and other volunteers went about their the hardest part comes next, when the DEPUTY EDITOR Mr Lee Kuan Yew. I know that we all duties quietly, eiciently, even as oi- frenzy of activity that has kept the mind feel the same way.” cials worked to revise plans that had busy is over. I think the Prime Minister expected to be adjusted after their irst contact Alone, without the necessary and his past week, things have been, many Singaporeans to mourn the loss, with a grieving nation. fortifying distractions of a period of T how shall we say … diferent but even he must have been surprised Last Sunday, about 100,000 people mourning in the company of others, in Singapore. by just how many did.
    [Show full text]
  • Stoxx® Singapore 75 Index
    STOXX® SINGAPORE 75 INDEX Components1 Company Supersector Country Weight (%) Oversea-Chinese Banking Corp. Banks SG 10.52 DBS Group Holdings Ltd. Banks SG 8.74 Singapore Telecommunications L Telecommunications SG 8.24 United Overseas Bank Ltd. Banks SG 7.60 Jardine Matheson Holdings Ltd. Industrial Goods & Services SG 5.93 Wilmar International Ltd. Food & Beverage SG 3.38 Hongkong Land Holdings Ltd. Real Estate SG 3.04 Keppel Corp. Ltd. Oil & Gas SG 2.72 CapitaLand Ltd. Real Estate SG 2.47 Jardine Strategic Holdings Ltd Industrial Goods & Services SG 2.38 Thai Beverage PCL Food & Beverage SG 2.12 Singapore Exchange Ltd. Financial Services SG 2.00 Singapore Press Holdings Ltd. Media SG 1.99 ComfortDelGro Corp. Ltd. Travel & Leisure SG 1.97 Singapore Airlines Ltd. Travel & Leisure SG 1.92 GLOBAL LOGISTIC PROPS Real Estate SG 1.82 Jardine Cycle & Carriage Ltd. Retail SG 1.63 Ascendas Real Estate Investmen Real Estate SG 1.62 Singapore Technologies Enginee Industrial Goods & Services SG 1.52 CAPITALAND MALL TRUST MGMT Real Estate SG 1.51 Genting Singapore PLC Travel & Leisure SG 1.45 Suntec Real Estate Investment Real Estate SG 1.32 City Developments Ltd. Real Estate SG 1.13 UOL Group Ltd. Real Estate SG 0.99 CapitaLand Commercial Trust Real Estate SG 0.96 Golden Agri-Resources Ltd. Food & Beverage SG 0.91 SembCorp Industries Ltd. Oil & Gas SG 0.88 SINGAPORE POST Industrial Goods & Services SG 0.84 MAPLETREE CHINA COMMERCIAL TRU Real Estate SG 0.82 SATS Industrial Goods & Services SG 0.78 Dairy Farm International Holdi Retail SG 0.75 Noble Group Ltd.
    [Show full text]
  • Dairy Farm International Holdings Limited
    Annual ReportAnnual 2017 Dairy Farm International Holdings Limited Annual Report 2017 Our Goal : “To give our customers across Asia a store they TRUST, delivering QUALITY, SERVICE and VALUE” Dairy Farm International Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group’s businesses are managed from Hong Kong by Dairy Farm Management Services Limited through its regional offices. Dairy Farm is a member of the Jardine Matheson Group. A member of the Jardine Matheson Group Contents 2 Corporate Information 3 Dairy Farm At-a-Glance 4 Highlights 6 Chairman’s Statement 8 Group Chief Executive’s Review 12 Feature Stories 16 Business Review 16 Food 22 Health and Beauty 26 Home Furnishings 30 Restaurants 34 Financial Review 37 Directors’ Profiles 39 Our Leadership 42 Financial Statements 100 Independent Auditors’ Report 108 Five Year Summary 109 Responsibility Statement 110 Corporate Governance 117 Principal Risks and Uncertainties 119 Shareholder Information 120 Retail Outlets Summary 121 Management and Offices Annual Report 2017 1 Corporate Information Directors Dairy Farm Management Services Limited Ben Keswick Chairman and Managing Director Ian McLeod Directors Group Chief Executive Ben Keswick Neil Galloway Chairman Mark Greenberg Ian McLeod Group Chief Executive George J. Ho Neil Galloway Adam Keswick Group Finance Director Sir Henry Keswick Choo Peng Chee Regional Director, North Asia (Food) Simon Keswick Gordon Farquhar Michael Kok Group Director, Health and Beauty Dr George C.G. Koo Martin Lindström Group Director, IKEA Anthony Nightingale Michael Wu Y.K. Pang Chairman and Managing Director, Maxim’s Jeremy Parr Mark Greenberg Lord Sassoon, Kt Y.K.
    [Show full text]
  • NSRCC Bids Adieu, to Club President LG Ng Chee Meng
    SAF & NS DAY Special! A Day to Page Recognise 16 Our NSmen Seen & Heard Joey Yeo strikes gold at Bowling World Open Pg4 We’re Recruiting: Join Our Committees! Pg12 residen Club P t Pg9 r New A Welcome to Ou In&AroundNSRCC An Exclusive Feature! Taking a Peek into Our Resort Bowl Pg26 A bi-monthly publication by National Service Resort & Country Club Sep I Oct 2015 Sep I Oct 2015 Contents Seen & Heard In & Around NSRCC 4 Joey Yeo Strikes Gold at Bowling World Open 23 Get Healthy @ NSRCC: Is Dark Chocolate a Superfood? 5 Special Deal For NSRCC Members: Universal Studios 24 Cessation of Extended Dinner Hours at JCafé Singapore Halloween Horror Nights 25 Our Bungalows Get Larger TVs and Shelter over BBQ Pits 6 Bicycle Care with Park Tool School Celebrate Mid-Autumn Festival with Us! NSRCC Hari Raya Flea Market 26 An Exclusive Feature! Taking a Peek into Our Resort Bowl 7 Voices of the Engagement Committee 8 NSRCC Sea Sports Centre Open House 2015 Updates 9 Welcome to Our New Club President, 28 Partner Promotions Major-General Perry Lim 10 NSRCC Bids Adieu, to Club President Upcoming Events & Promos LG Ng Chee Meng 29 Bicycle Maintenance Workshop with Park Tool School 12 We’re Recruiting: Join Our Committees! Tennis Lessons Swimming Lessons On Par 30 NSRCC Flea Market (Deepavali) 13 Phil Brew: Practice Training Programs Mid-Autumn Celebration under the Stars 14 Hole-In-One Achievers Oktoberfest NSRCC’s Service Excellence Award: Vote for Who Children’s Day Party (Theme: Disney Junior) Makes You Smile! 15 Golf 101: Rule 8-2 and 16-1 In every
    [Show full text]
  • Balancing Growth with Responsibility
    UOB Annual Report 2019 Balancing Growth with Responsibility Wastescape Chaichana Luetrakun About This Report United Overseas Bank Limited (UOB) has been committed to creating long-term value for our customers, our colleagues and our communities since 1935. In building a sustainable business over time and across borders, we engage our stakeholders constructively and regularly. This enables us to align our strategies with what is important to them and for them to have a deeper appreciation of how we contribute to enterprise, innovation and economic growth across the region. Through the reporting of our financial and non-financial performance in the UOB Annual Report 2019, we explain our business approach, objectives and achievements in the context of the year’s operating environment. We also share how we create value for our stakeholders over the short, medium and long term to enable them to make informed decisions. This report complies with the Singapore Exchange Securities Trading Limited Mainboard Listing Rules 707 to 711 and 1207 on Annual Reports, 711A and 711B on Sustainability Reporting, as well as Practice Note 7.6 Sustainability Reporting Guide issued in June 2016. The embedded Sustainability Report is also in accordance with the Global Reporting Initiative (GRI)’s Standards: Core Option issued in October 2016 by the Global Sustainability Standards Board and selected indicators from the GRI G4 Financial Services Sector Disclosures document. This report covers the period from 1 January to 31 December 2019 and is published on 7 April 2020. It is available online at www.UOBgroup.com/AR2019. Hard copies, which are available only on request, are printed on sustainably-sourced Forest Stewardship Council-certified paper.
    [Show full text]
  • SIAEC GOES IPO SIAEC Goes IPO (4/5/2000) the Following Announcement Was Sent to the Singapore Exchange This Morning
    04 May 2000 SIAEC GOES IPO SIAEC goes IPO (4/5/2000) The following announcement was sent to the Singapore Exchange this morning: "Singapore Airlines Limited wishes to announce that it is proceeding with the initial public offerings of shares of its two subsidiary companies, SIA Engineering Company Limited and Singapore Airport Terminal Services Limited. The offerings comprise 110 million vendor shares of SIA Engineering Company Limited for subscription at $2.05 each, and 110 million vendor shares of Singapore Airport Terminal Services Limited for subscription at $2.50 each. The offerings will be launched this afternoon. Complete details will be contained in the respective prospectus." Related Stories Singapore Airlines to List Two Major Subsidiaries (27 January 2000) The Board of Directors of Singapore Airlines (SIA) has decided to proceed with the listing of the ordinary shares of two major subsidiaries, Singapore Airport Terminal Services (SATS) and the SIA Engineering Company (SIAEC), on Singapore Exchange Securities Trading Limited. The decision was based on the conclusions of a three-month study by two major investment banks, Development Bank of Singapore (DBS) and Merrill Lynch, to consider the arguments for and against such a listing. Explained SIA Deputy Chairman and CEO Cheong Choong Kong: "This is not an exercise to raise capital. The object of the listings is to allow SATS and SIAEC to be more independent and grow faster than if they remained fully-owned by SIA. There will be greater incentive for them to secure more third-party work and enter into more business ventures internationally." SIA will remain a majority shareholder of SATS and SIAEC.
    [Show full text]
  • Starhub Ltd Reg
    StarHub Ltd Reg. No.:199802208C 67Ubi Avenue1 #05-01 StarHub Green Singapore 408942 Tel(65) 6825 5000 Fax(65)6721 5000 STARHUB LTD Announcement of Audited Results for the Full Year ended 31 December 2016 StarHub is pleased to announce the audited results for the full year ended 31 December 2016. STARHUB LTD Results for the Fourth Quarter and Full Year ended 31 December 2016 1. GROUP INCOME AND COMPREHENSIVE INCOME STATEMENTS 1.1 GROUP INCOME STATEMENT Quarter ended 31 Dec Full Year ended 31 Dec 2016 2015 Incr/ (Decr) 2016 2015 Incr/ (Decr) S$m S$m S$m % S$m S$m S$m % Total revenue 634.8 633.8 1.0 0.2 2,396.7 2,444.3 (47.6) (1.9) Operating expenses (570.7) (555.7) 15.0 2.7 (2,003.8) (2,048.6) (44.8) (2.2) Other income 4.6 13.8 (9.2) (66.0) 32.2 45.6 (13.4) (29.2) Profit from operations 68.7 91.9 (23.2) (25.1) 425.1 441.3 (16.2) (3.6) Finance income 0.8 0.6 0.2 28.2 3.5 2.0 1.5 73.3 Finance expense (1) (7.4) (5.1) 2.3 43.3 (26.2) (17.8) 8.4 46.7 62.1 87.4 (25.3) (28.8) 402.4 425.5 (23.1) (5.4) Non-operating income (2) - - - - 9.5 15.0 (5.5) (37.1) Share of loss of associate (net of tax) (0.2) (0.1) 0.1 nm (1.6) (0.3) 1.3 nm Profit before taxation 61.9 87.3 (25.4) (29.1) 410.3 440.2 (29.9) (6.8) Taxation (7.9) (6.5) 1.4 21.4 (68.9) (67.9) 1.0 1.5 Profit for the period 54.0 80.8 (26.8) (33.2) 341.4 372.3 (30.9) (8.3) Attributable to: Equity holders of the Company 54.0 80.8 (26.8) (33.2) 341.4 372.3 (30.9) (8.3) 54.0 80.8 (26.8) (33.2) 341.4 372.3 (30.9) (8.3) EBITDA 135.7 157.0 (21.3) (13.6) 690.1 712.7 (22.6) (3.2) EBITDA as a % of service
    [Show full text]