1 NTU ANNUAL REPORT 2011 Vision and Mission A great global university founded on science and technology, nurturing creative and entrepreneurial leaders through a broad education in diverse disciplines.
Contents
At a Glance 5 Highlights 52 Chairman’s Message: On the Rise 6 t(MPCBM4UBOEJOH President’s Message: The New NTU 8 t-FBEFSTIJQ Board of Trustees 12 t&EVDBUJPO University Leadership 14 t/FX$FOUSFTBOE*OTUJUVUFT Learning 16 t*OOPWBUJPOT t6OEFSHSBEVBUF&EVDBUJPO t(JGUTUPUIF6OJWFSTJUZ t(SBEVBUF&EVDBUJPO t"MVNOJ t4UVEFOU&YQFSJFODF t$BNQVT-JGF Discovery 30 t&NJOFOU7JTJUPST t3FTFBSDI t#FOFGBDUPST t8PSMEDMBTT'BDVMUZ Financial Review 60 t3FTFBSDI4QPUMJHIU t$PSQPSBUF(PWFSOBODF Honours 44 t'JOBODJBM4UBUFNFOUT t4FOJPS.BOBHFNFOUBOE'BDVMUZ t(SBEVBUF4UVEFOUT t6OEFSHSBEVBUFT t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ýWF UIFMBSHFTUDBNQVTJO4JOHBQPSF 3,600 GBDVMUZBOESFTFBSDIFST
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NTU ANNUAL REPORT 2011 6 7 NTU ANNUAL REPORT 2011 PRESIDENT’S MESSAGE i/56IBT DPOTJTUFOUMZCFFO SBOLFEBNPOH UIFXPSMETUPQ VOJWFSTJUJFT /PUFXPSUIZJOUIF THE MBTUBDBEFNJDZFBS XBTPVSRVJDLBTDFOU NEW VQWBSJPVTSFQVUBCMF HMPCBMZBSETUJDLTw NTU
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NTU ANNUAL REPORT 2011 8 9 NTU ANNUAL REPORT 2011 PRESIDENT’S MESSAGE
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NTU ANNUAL REPORT 2011 10 11 NTU ANNUAL REPORT 2011 BOARD OF TRUSTEES "TBU+VMZ
Mr Koh Boon Hwee (Chairman) Mr Alwi Bin Abdul Ha!z Mr Edmund Cheng Mr Lim Chee Onn Mr Lim Chuan Poh Sir Keith O’Nions $IBJSNBO .BOBHJOH%JSFDUPS "4&"/ %FQVUZ$IBJSNBOBOE $IBJSNBO $IBJSNBO 1SFTJEFOUBOE3FDUPS 4VOOJOHEBMF5FDI-UE #4*(SPVQ4JOHBQPSF1UF-UE %FQVUZ.BOBHJOH%JSFDUPS 4JOHCSJEHF*OUFSOBUJPOBM "HFODZGPS4DJFODF 5FDIOPMPHZBOE *NQFSJBM$PMMFHF-POEPO :FP)JBQ4FOH-UE 8JOH5BJ)PMEJOHT-UE 4JOHBQPSF1UF-UE 3FTFBSDI
Mr Chia Ban Seng Ms Jennie Chua Mr Goh Geok Ling Prof Haresh Shah Mr Inderjit Singh Mrs Tan Ching Yee .BOBHJOH%JSFDUPS $IJFG$PSQPSBUF0GýDFS $IBJSNBO 1SPGFTTPS &NFSJUVT $IJFG&YFDVUJWF0GýDFS 1FSNBOFOU4FDSFUBSZ *OEPDFNFOU4JOHBQPSF1UF-UE $BQJUB-BOE-UE 4FNC$PSQ.BSJOF-UE 4UBOGPSE6OJWFSTJUZ *OýOJUJ4PMVUJPOT-UE .JOJTUSZPG&EVDBUJPO
Mr Kwek Leng Joo Mrs Lee Suet Fern Ms Lien Siaou-Sze Mr Wong Yew Meng Mr Ernest Wong Prof Alexander JB Zehnder .BOBHJOH%JSFDUPS 4FOJPS%JSFDUPS 4FOJPS&YFDVUJWF$PBDI #PBSE.FNCFS $IBJSNBO 1SFTJEFOUBOE'PVOEFS $JUZ%FWFMPQNFOUT-UE 4UBNGPSE-BX$PSQPSBUJPO .PCMFZ(SPVQ1BDJýD 1FPQMFT"TTPDJBUJPO 'VMMFSUPO'JOBODJBM)PMEJOHT1UF-UE 5SJQMF;-UE
* Following the end of Prof Su Guaning’s term as President of NTU, Prof Bertil Andersson succeeded him on the NTU Board of Trustees.
Prof Bertil Andersson* 1SFTJEFOU /BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ NTU ANNUAL REPORT 2011 12 13 NTU ANNUAL REPORT 2011 UNIVERSITY LEADERSHIP
Senior Management Team
From left: Prof Kam Chan Hin, Prof Lam Khin Yong, Prof Angela Goh, Assoc Prof Kwok Kian Woon, Prof Er Meng Hwa, Prof Peter Rainer Preiser and Prof Stephen Kevin Smith
5IFPUIFSNFNCFSTPGUIFTFOJPSNBOBHFNFOUUFBNBSF Deans of Colleges
Prof Lam Khin Yong Prof Gillian Yeo $IJFGPG4UBGG *OUFSJN%FBO /BOZBOH#VTJOFTT4DIPPM
Prof Er Meng Hwa Prof Janie Fouke 7JDF1SFTJEFOU *OUFSOBUJPOBM"GGBJST %FBO $PMMFHFPG&OHJOFFSJOH Prof Bertil Andersson Prof Freddy Boey President Provost Prof Stephen Kevin Smith Prof Alan Chan 7JDF1SFTJEFOU 3FTFBSDI BOE%FBO -FF,POH$IJBO %FBO $PMMFHFPG)VNBOJUJFT "SUT 4PDJBM4DJFODFT 1SPG"OEFSTTPOýSTUCFDBNF1SPWPTUJO XIFSFIF #FGPSFBTTVNJOHUIFSPMFPG1SPWPTU 1SPG#PFZTFSWFE 4DIPPMPG.FEJDJOF IFMQFEUPTUSFOHUIFO/56TSFQVUBUJPOBTPOFPGUIFGBTUFTU BTUIF$IBJSPG/56T4DIPPMPG.BUFSJBMT4DJFODF Prof Ling San HSPXJOHSFTFBSDIJOUFOTJWFVOJWFSTJUJFTJOUIFXPSME)FXBT &OHJOFFSJOHGSPNUP MFBEJOHJUTUSBOTGPSNBUJPO Prof Angela Goh %FBO $PMMFHFPG4DJFODF JOTUBMMFEBT/56TUIJSE1SFTJEFOUPO+VMZ)FXBT JOUPPOFPGUIFXPSMETMBSHFTUNBUFSJBMTFOHJOFFSJOH "TTPDJBUF1SPWPTU 'BDVMUZ"GGBJST GPSNFSMZ1SFTJEFOUPG-JOLÚQJOH6OJWFSTJUZ 4XFEFO GSPN JOTUJUVUJPOT"EFEJDBUFEFEVDBUPSBOEBENJOJTUSBUPS IF Heads of Autonomous Institutes UP BOEUIF$IJFG&YFDVUJWFPGUIF&VSPQFBO BMTPIBTBTUFSMJOHUSBDLSFDPSEPGCSFBLUISPVHIDPNNFSDJBM Prof Peter Rainer Preiser 4DJFODF'PVOEBUJPOGSPNUP"TUIFNBOBUUIF BQQMJDBUJPOTUIBUIBWFHJWFOUIFiNBEFJO4JOHBQPSFw "TTPDJBUF1SPWPTU (SBEVBUF&EVDBUJPO Prof Lee Sing Kong IFMNPGUIF&VSPQFBO4DJFODF'PVOEBUJPOJO4USBTCPVSH MBCFMQSJEFPGQMBDFPOUIFHMPCBMTUBHF*OUIFUISFFZFBST %JSFDUPS /BUJPOBM*OTUJUVUFPG&EVDBUJPO 'SBODF IJTMBTUQPTUCFGPSFKPJOJOH/56 IFDPOTPMJEBUFE CFGPSFIFCFDBNF/56T1SPWPTU IFIBEXPOBCPVU4 Assoc Prof Kwok Kian Woon Ambassador Barry DeskeS SFTFBSDIFGGPSUTBDSPTT&VSPQFBODPVOUSJFT"XPSME NJMMJPOJODPNQFUJUJWFGVOEJOHGPSSFTFBSDI JODMVEJOHB "TTPDJBUF1SPWPTU 4UVEFOU-JGF %FBO 43BKBSBUOBN4DIPPMPG*OUFSOBUJPOBM4UVEJFT SFOPXOFEQMBOUCJPDIFNJTUXJUIBMPOHTUBOEJOHBTTPDJBUJPO 4NJMMJPOJOEJWJEVBMHSBOUUPEFWFMPQGVMMZCJPEFHSBEBCMF XJUIUIF/PCFM'PVOEBUJPO XIFSFIFIBEBMTPDIBJSFE DBSEJPWBTDVMBSJNQMBOUTGPSIPMFJOUIFIFBSUDPOEJUJPOT1SPG Prof Kam Chan Hin Prof Kerry Sieh JUT$IFNJTUSZ$PNNJUUFF 1SPG"OEFSTTPOIBTQJPOFFSFE #PFZIBTýMFEPSJHJOBMQBUFOUTXJUI/56 UIFNBKPSJUZ "TTPDJBUF1SPWPTU 6OEFSHSBEVBUF&EVDBUJPO %JSFDUPS &BSUI0CTFSWBUPSZPG4JOHBQPSF SFTFBSDIPOUIFBSUJýDJBMMFBG BQSPNJTJOHBSFBPGTVTUBJOBCMF PGXIJDIIBWFCFFOMJDFOTFE5IFTFQBUFOUTIBWFSFTVMUFE JOýWFTQJOPGGDPNQBOJFT GPSNFEUPMJDFOTFIJTWBSJPVT FOFSHZSFTFBSDIUIBUVTFTTVOMJHIUUPQSPEVDFDMFBO MPX Prof Staffan Kjelleberg MJGFHJWJOHCJPNFEJDBMTPMVUJPOT/PUKVTU/56TSPMFNPEFM DPTUTPVSDFTPGFOFSHZ)FJTQBSUPGBHMPCBMMFBHVFPG %JSFDUPS 4JOHBQPSF$FOUSFPO&OWJSPONFOUBM-JGF GPSSFTFBSDI FEVDBUJPOBOEFOUFSQSJTF 1SPG#PFZBDUJWFMZ MFBEJOHTDJFOUJTUT KPJOJOH/PCFM1SJ[FXJOOFSTBNPOH 4DJFODFT&OHJOFFSJOH PUIFSTTJODFXIPIBWFCFFOBXBSEFEUIF8JMIFMN DIBNQJPOTUIFNBSSJBHFPGBMMUISFFPODBNQVT &YOFS.FEBMGPSTIBQJOHUIFXPSMEUISPVHISFTFBSDI
NTU ANNUAL REPORT 2011 14 15 NTU ANNUAL REPORT 2011 A CAMPUS TO NURTURE
7FSTBUJMJUZ5IJTJTBRVBMJUZXFOVSUVSF UISPVHIBþFYJCMF CSPBECBTFE DVSSJDVMVN DPVQMFEXJUIBWJCSBOU DBNQVTMJGFBOEFYQPTVSFUPHMPCBM FOWJSPONFOUT#FTJEFTMFBSOJOHUPUIJOL BDSPTTEJTDJQMJOFT PVSTUVEFOUTBDRVJSF IBSEBOETPGUTLJMMT TVDIBTDSFBUJWJUZ DVMUVSBMJOUFMMJHFODF OFUXPSLJOHTLJMMT BOEMFBEFSTIJQBCJMJUZ1MVHHFEJOUPUIF HMPCBMTDFOFBOEXFMMPSJFOUFEUPUIF OFXFDPOPNZ UIFZBSFSFBEZUPNBLFBO JNQBDUBGUFSHSBEVBUJPO : Cheah Wei Chun : Cheah Wei Art direction : Kevin Yang : Kevin Yang
NTU ANNUAL REPORT 2011 16 17 NTU ANNUAL REPORT 2011 Photo LEARNING
UNDERGRADUATE EDUCATION
Preparing Students for the Knowledge $&0TBOE$50T5IFQSPHSBNNFPGGFSTUXPEFHSFFT Economy oB#BDIFMPSPG&OHJOFFSJOH4DJFODFBOEB.BTUFSPG 4DJFODFJO5FDIOPMPHZ.BOBHFNFOUoJOKVTUZFBST *O": /56CFHBOJNQMFNFOUJOHUIFSFDPNNFOEBUJPOT XJUIBZFBSTQFOUBUBUPQPWFSTFBTVOJWFSTJUZ5IFýSTU PGJUT#MVF3JCCPO$PNNJTTJPO3FQPSUPO6OEFSHSBEVBUF DPIPSUXJMMTQFOEBZFBSBUUIF6OJWFSTJUZPG$BMJGPSOJB &EVDBUJPO6OWFJMFEJO.BSDI JUTFUTPVUBOFX #FSLFMFZ5IFQSPHSBNNFIBTBUUSBDUFENBOZIJHI QBSBEJHNGPSMFBSOJOHUISPVHIBSFWBNQFEDVSSJDVMVNXJUI BDIJFWFSTBOEBDDFQUFEJUTýSTUDPIPSUJO": BCFUUFSCBMBODFPGEFQUI CSFBEUIBOEGSFFFMFDUJWFT XJUI GSFTIPQQPSUVOJUJFTGPSTUVEFOUTUPTUVEZ SFTFBSDI XPSLBOE TQFOETPNFUJNFPWFSTFBT"NPOHUIFIJHIMJHIUT
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t 5IFOFXDVSSJDVMVNBMTPPGGFSTBbroader selection of electives JODMVEJOHDSPTTEJTDJQMJOBSZNPEVMFTTVDI BT-JCFSBM4UVEJFTBOE/BUVSBM)B[BSETBOE4PDJFUZ BT At the Lee Wee Nam Library Learning Commons and other spaces NTU graduates are equipped to excel in the new innovation-driven economy XFMMBTBDPVSTFPO&OUSFQSFOFVSTIJQ across the campus, new study con!gurations and technologies help students to learn more effectively "OFEVDBUJPOBU/56PGGFST CFDPNJOHBXPSMEDMBTTSFTFBSDI /BOZBOH4DIPMBSTIJQBXBSEFECZ t $MPTFUP20 new academic programmes JODMVEJOH JOUFSEJTDJQMJOBSZLOPXMFEHFBOEB JOUFOTJWFVOJWFSTJUZXIJMFTUBZJOH UIFVOJWFSTJUZ5IJSUFFOPGUIFNXFSF EPVCMFEFHSFFPGGFSJOHT IBWFCFFOBEEFE DPWFSJOHB HMPCBMQFSTQFDUJWF HJWJOHTUVEFOUT USVFUPJUTLFZNJTTJPOPGQSPWJEJOHB BMTPBDDFQUFEJOUPUIF$/:BOH SBOHFPGFNFSHJOHHSPXUIBSFBT UIFUPPMTUPTVDDFFEJOBOJODSFBTJOHMZ TUSPOHGPVOEBUJPOJOVOEFSHSBEVBUF 4DIPMBST1SPHSBNNFGPSTDJFODFBOE t New minorsUIBUIBWFCFFOJOUSPEVDFEUPBEE DPNQMFY CPSEFSMFTTXPSME#FTJEFT FEVDBUJPO FOHJOFFSJOHUBMFOUT JOUFSEJTDJQMJOBSZCSFBEUIDPWFSýFMETTVDIBTFOFSHZ BDRVJSJOHUIFDPSFUFOFUTPGUIFJS /56QSPEVDFTHSBEVBUFTUIBU TQPSUTTDJFODF BOEFOWJSPONFOUBMBOEVSCBOTUVEJFT DIPTFOýFMETBOEBOVOEFSTUBOEJOH i5IFXPSLJOHXPSMEPGUIF NFFUUIFOFFETPGJOEVTUSJFTBOE GVUVSFXJMMSFRVJSFA5TIBQFE t /56JTDPNNJUUFEUPHJWJOHTUVEFOUTBSBOHFPG PGCSPBEJTTVFT UIFZBMTPEFWFMPQ CVTJOFTTFT"HSBEVBUFFNQMPZNFOU QSPGFTTJPOBMTXJUIJOEFQUI JOUFSOBUJPOBMFYQFSJFODFT)BWJOHBDIJFWFEPVSUBSHFU DSJUJDBMUIJOLJOH SFBTPOJOHBOE TVSWFZPGUIF$MBTTPGGPVOEUIBU LOPXMFEHFPGPOFEJTDJQMJOFBOEB UPIBWFBUMFBTUPGFBDITUVEFOUDPIPSUBUUFOE DPNNVOJDBUJPOTLJMMTUIBUDBOCF TFDVSFEFNQMPZNFOUXJUIJO CSPBELOPXMFEHFCBTFJOBEKBDFOU overseas learning, research and work programmes BQQMJFEUPBSBOHFPGQSPGFTTJPOBM BNPOUIPGHSBEVBUJPOwhile 99.9% BSFBT5IFTFQSPGFTTJPOBMT /56JTOPXXPSLJOHUPXBSETBNPSFBNCJUJPVTUBSHFU SPMFT received a job offer within four BSFOVNFSBUFBOEBEFQUBU PG 0VSBQQSPBDIIBTSFDFJWFEHMPCBM months of graduation UFDIOPMPHZ FWFOBTUIFZBSFHPPE t *OUFHSBUJOHFOHJOFFSJOHTDJFODF CVTJOFTTNBOBHFNFOU BGýSNBUJPO*O'FCSVBSZ UIF NBOBHFST QSPCMFNTPMWFSTBOE .PSFUPQTUVEFOUTBSFCFOFýUJOHGSPN DPNNVOJDBUPSTw BOEMJCFSBMTUVEJFT UIFRenaissance Engineering 2VBMJUZ"TTVSBODF'SBNFXPSLGPS The Renaissance Engineering Programme bridges engineering, NBLJOH/56UIFJSDIPJDFPGVOJWFSTJUZ ProgrammeJTBVOJRVFEVBMEFHSFFPGGFSJOHXJUIB business and the liberal arts, offering the breadth of knowledge that 6OJWFSTJUJFTSFQPSUDPODMVEFEUIBU o1SPG#FSUJM"OEFSTTPO *O": BCVNQFSDSPQPG /561SFTJEFOU TUSPOHPWFSTFBTDPNQPOFOU BJNFEBUHSPPNJOHGVUVSF future CEOs and CTOs will need /56IBENBEFHSFBUQSPHSFTTJO GSFTINFOSFDFJWFEUIFQSFTUJHJPVT
NTU ANNUAL REPORT 2011 18 19 NTU ANNUAL REPORT 2011 4JOHBQPSFTOFXFTU NFEJDBMTDIPPM NBSLTUIFýSTUUJNF UIBU*NQFSJBM$PMMFHF -POEPOJTEFMJWFSJOH The Lee Kong Chian School /56TTUSFOHUITJOFOHJOFFSJOHBOE MJUFSBSZMVNJOBSJFTVOEFSUIFSingapore BOVOEFSHSBEVBUF of Medicine CVTJOFTT*UXJMMCFCBTFEBUtwo Writing Residencies TDIFNF locations/56T:VOOBO(BSEFO -BVODIFEJO"QSJM UIJTUISFFZFBS DPVSTFPVUTJEFUIF "OOPVODFEJO4FQUFNCFS DBNQVTBOEUIFOFX/PWFOBDBNQVT 4NJMMJPOQSPHSBNNFJTDPGVOEFE 4JOHBQPSFTOFXFTUNFEJDBMTDIPPM CFJOHEFWFMPQFEOFYUUP5BO5PDL4FOH CZUIF/BUJPOBM"SUT$PVODJM 6OJUFE,JOHEPN JTNBLJOHHPPEQSPHSFTTUPXBSET )PTQJUBM"SFTFBSDITUSBUFHZHSPVQ XFMDPNJOHJUTýSTUJOUBLFPG *O UIFQJPOFFSDMBTTPG XBTFTUBCMJTIFEJO+VOFBOE TUVEFOUTJO"VHVTU*UNBSLTUIF UIFBachelor of Engineering in SFDSVJUNFOUPGUPQGBDVMUZJTVOEFSXBZ ýSTUUJNFUIBU*NQFSJBM$PMMFHF-POEPO Information Engineering and JTEFMJWFSJOHBOVOEFSHSBEVBUFDPVSTF Other Highlights Media QSPHSBNNFHSBEVBUFE'JSTU PVUTJEFUIF6OJUFE,JOHEPN PGGFSFEJOCZUIF4DIPPMPG 5PFODPVSBHFNPSFVOEFSHSBEVBUFT &MFDUSJDBM&MFDUSPOJD&OHJOFFSJOH 5IFTDIPPMTFFLTUPenhance UPQVSTVFSFTFBSDI UIFURECA UIFNVMUJEJTDJQMJOBSZ JOUFSDPMMFHF excellence in medical education, (Undergraduate Research QSPHSBNNFHJWFTFOHJOFFSTB healthcare and science in Singapore Experience on CAmpus) QSPHSBNNF TUSPOHFSVOEFSTUBOEJOHPGUIF BOEIBTSFDFJWFETJHOJýDBOUTVQQPSU XIJDIPGGFSTBDDFTTUP DSFBUJWFEFTJHOQSPDFTT(SBEVBUFT GSPNUIFDPNNVOJUZ*O+BOVBSZ JOUFSEJTDJQMJOBSZQSPKFDUT JTOPXPQFO IBWFCFFOFNQMPZFECZMFBEJOH JUXBTOBNFEUIF-FF,POH$IJBO UPBMBSHFSDPIPSUPGQPUFOUJBM'JSTU DPNQBOJFTBOEPSHBOJTBUJPOTTVDI 4DIPPMPG.FEJDJOFBGUFS5BO4SJ $MBTT)POPVSTTUVEFOUT4JODFUIJT BT*#. 0SBDMF 4JOH5FM -VDBTýMN %BUP-FF,POH$IJBOJOSFDPHOJUJPO DIBOHFJO": UIFSFIBTCFFOB 4JOHBQPSF .FEJB$PSQ 4JOHBQPSF PGB4NJMMJPOHJGUGSPNUIF-FF SJTFJOUIFQBSUJDJQBUJPOSBUF 1SFTT)PMEJOHT UIF(PWFSONFOUPG 'PVOEBUJPO XIJDIBNPVOUTUP4 4JOHBQPSF*OWFTUNFOU$PSQPSBUJPOBOE NJMMJPOBGUFSHPWFSONFOUNBUDIJOH 4UVEFOUTPGUIF&OHMJTI%JWJTJPOT $SFBUJWF8SJUJOHNJOPSQSPHSBNNF NBKPSCBOLT 5IFTDIPPMXJMMDPNCJOF*NQFSJBMT DBOMPPLGPSXBSEUPMFBSOJOHGSPN SFOPXOFENFEJDBMQSPHSBNNFXJUI
Part of the medical school will be housed in a historic building at the Novena campus, which is in a prime medical district to facilitate students’ integration into clinical settings
NTU ANNUAL REPORT 2011 20 21 NTU ANNUAL REPORT 2011 LEARNING
GRADUATE EDUCATION
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Quality, Diversity and Standards
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t 1I%student enrolmentBU/56SPTFGSPN JO":UP JO": B JODSFBTF5IJTIBTFOIBODFE/56TWJCSBOU SFTFBSDIDVMUVSF8JUI1I%FOSPMNFOUHSPXJOH TUFBEJMZPWFSUIFMBTUUISFFZFBST UIFVOJWFSTJUZ JTPOUSBDLUPSFBDIJUTUBSHFUPG 1I%TUVEFOUT
t Research scholarship block funding GPS /56GSPN4JOHBQPSFT.JOJTUSZPG&EVDBUJPO The proportion of PhD students admitted with a First Class Honours degree rose to 51% in AY2010 JODSFBTFEGSPN4NJMMJPOJO': UP4NJMMJPOJO':5IJTSJTF IBTSFTVMUFEJOBOBWFSBHFJOUBLFPGBCPVU QFSDFOUJMFBWFSBHFE UP NBUSJDVMBUFETUVEFOUTBHBJOTUUPUBM 3BOLJOHT/BOZBOH.#"BMVNOJBMTP /56SFTFBSDITDIPMBSTGSPN":UP GPS(3& GPS(."5 PGGFST SPTFGSPNJO": IBWFUIFIJHIFTUBWFSBHFTBMBSZBNPOH ": BOEGPS("5& DPNQBSBCMF UPJO":5IJTJOEJDBUFT UIPTFXIPBUUFOE4JOHBQPSFBO.#" XJUITPNF*WZ-FBHVFVOJWFSTJUJFT BHSFBUFSUBLFVQSBUFGPS/56T QSPHSBNNFT XJUIBOBWFSBHFTBMBSZPG t /56IBTCSPBEFOFEUIF global diversity PGJUT 5IFQSPQPSUJPOPG1I%TUVEFOUT QSPHSBNNFT 64 1I%QPQVMBUJPO5IF4JOHBQPSF*OUFSOBUJPOBM BENJUUFEXJUIB'JSTU$MBTT t /56T1I%HSBEVBUFTDPOUJOVFUP /56TInterdisciplinary Graduate (SBEVBUF"XBSE BDPMMBCPSBUJPOXJUIUIF )POPVSTEFHSFFSPTFGSPNJO CFhighly employablePG School TFFLTUPTUSFOHUIFO "HFODZGPS4DJFODF 5FDIOPMPHZ3FTFBSDI ":UPJO": IBTBUUSBDUFEJOUFSOBUJPOBMTUVEFOUTUPQVSTVF UIF$MBTTPGXFSFFNQMPZFE JOUFSEJTDJQMJOBSZSFTFBSDIJO GVMMUJNF1I%TIFSF*O": TUVEFOUT t Graduate research standards POBGVMMUJNFCBTJTXJUIJOTJY QSPHSBNNFTSFMBUFEUPUIF'JWF1FBLT GSPNOPOUSBEJUJPOBMDPVOUSJFTKPJOFE IBWFBMTPCFFOSBJTFE/56T NPOUITPGSFDFJWJOHUIFJSEFHSFFT PG&YDFMMFODF5IFýSTUDPIPSUPG /56UISPVHIUIFQSPHSBNNF VQGSPNJO QPTUHSBEVBUFSFTFBSDI XIJMFIBESFDFJWFE JOUFSEJTDJQMJOBSZ1I%TUVEFOUTXBT ":5IF4VNNFS3FTFBSDI*OUFSOTIJQ TVCTDSJQUJPOSBUF BNFBTVSF KPCPGGFST BENJUUFEJO":5IFHPBMJTUP 1SPHSBNNFBMTPDSFBUFTBXBSFOFTTBNPOHTU PGUPUBMBQQMJDBUJPOTBHBJOTU IBWFPGUIFVOJWFSTJUZT1I% JOUFSOBUJPOBMTUVEFOUTUISPVHIBOFJHIU NBUSJDVMBUFETUVEFOUT SPTF Other Highlights TUVEFOUTFEVDBUFEUISPVHIUIFTDIPPM GSPNJO":UPJO CZ XFFLSFTFBSDIJOUFSOTIJQBU/565IFSF /56TNanyang MBADPOUJOVFTUP ": VQ5IJTJOEJDBUFT XFSFBQQMJDBUJPOTGPSUIFVOJWFSTJUZT ESBXBDDPMBEFT*O4FQUFNCFS 5IF/56Industrial Postgraduate HSFBUFSTFMFDUJWJUZJOBENJTTJPOT +VOFJOUBLF BUISFFGPMEJODSFBTFGSPN The EconomistSBOLFEJUUIJOBHMPCBM Programme XBTEFWFMPQFEXJUIUIF 5IFQPTUHSBEVBUFDPVSTFXPSL ":/56T1I%QPQVMBUJPOOPXIBT TVSWFZPGGVMMUJNF.#"QSPHSBNNFT TVQQPSUPG4JOHBQPSFT&DPOPNJD TVCTDSJQUJPOSBUFTIPXFEUIF SFQSFTFOUBUJWFTGSPNDPVOUSJFT 5IJTNBLFTJUTJYUIJO"TJBBOEOVNCFS %FWFMPQNFOU#PBSEUPPGGFSFYUFOTJWF TBNFUSFOE VQGSPNJO POFJO4JOHBQPSF*O+BOVBSZ JOEVTUSZSFMFWBOUFYQPTVSFUP1I% t Student qualityIBTBMTPJNQSPWFE'SPN ":UPJO": B UIFQSPHSBNNFDBNFJOSEPOThe TUVEFOUT5IFýSTUJOUBLFXBT ":UP": BENJTTJPOTDPSFT JODSFBTF/56TQPTUHSBEVBUF NTU is on track to reach its target of 3,500 PhD students by 2015 UI Financial Times’ 5PQ(MPCBM.#" JO": PGNBUSJDVMBUFE1I%TUVEFOUTBUUIF SFTFBSDIZJFMESBUF BNFBTVSFPG
NTU ANNUAL REPORT 2011 22 23 NTU ANNUAL REPORT 2011 LEARNING
Management Programme in Air Transport XIJDIBMMPXTQBSUJDJQBOUT UPFBSODSFEJUTUPXBSETUIF/BOZBOH &YFDVUJWF.BTUFSPG#VTJOFTT "ENJOJTUSBUJPOQSPHSBNNFBU/56 8JUIJUTGPDVTPOBWJBUJPONBOBHFNFOU 5IF%JWJTJPOPG&BSUI UIFDPVSTFXJMMEFWFMPQBWJBUJPOMFBEFST GPSUIFXPSME
4DJFODFTBUUIF4DIPPMPG 5IF/BOZBOH#VTJOFTT4DIPPMMFOET 1IZTJDBM.BUIFNBUJDBM JUTFYQFSUJTFUPUIFMaster in Business Studies (Asian Business)QSPHSBNNF 4DJFODFTBDDFQUFE XIJDIJODMVEFTBTFHNFOUXJUIDPVSTFT BOEXPSLTIPQTBU/56GPSHSBEVBUF JUTýSTUJOUBLFPG1I% TUVEFOUTPG6OJWFSTJUZ$PMMFHF$PSL TUVEFOUTJO"VHVTU *SFMBOE /56TMaster of Arts in Contemporary ChinaQSPHSBNNF DFMFCSBUFEJUTýGUIBOOJWFSTBSZJO"VHVTU XJUIUIFFTUBCMJTINFOUPGUIF 8POH8BJ-JOH4DIPMBSTIJQ
Renowned earth scientist Prof Kerry Sieh, Director of the Earth Observatory of Singapore at NTU *O+BOVBSZ /56TQPQVMBS Mayors’ ClassXFMDPNFEJUT UI /FXjoint and dual graduate t "HFODZGPS4DJFODF 5FDIOPMPHZ t (SB[6OJWFSTJUZPG5FDIOPMPHZ HSBEVBUF5IF.BZPST$MBTTBMTP programmesCFUXFFO/56BOE 3FTFBSDI KPJOU1I%SFTFBSDI KPJOU1I%QSPHSBNNFJO7JTVBM SFDFJWFEJUTNPTUTFOJPSDPIPSUPG PUIFSMFBEJOHVOJWFSTJUJFTMFWFSBHF QSPHSBNNFJO*NNVOPMPHZ $PNQVUJOH $IJOFTFPGýDJBMTBOEBENJOJTUSBUPST DPNQMFNFOUBSZTUSFOHUITJOLFZ JO.BSDI5IJTNJMFTUPOFOPU t 5FDIOJDBM6OJWFSTJUZPG.VOJDI 5IFDivision of Earth SciencesBU SFTFBSDIBSFBT*O": UIF POMZEFNPOTUSBUFTUIFTUSFOHUIPGUIF KPJOU1I%QSPHSBNNFJO&MFDUSJDBM UIF4DIPPMPG1IZTJDBM.BUIFNBUJDBM VOJWFSTJUZTBXUIFýSTUJOUBLFPG/56 VOJWFSTJUZT$IJOBGPDVTFENBTUFST &MFDUSPOJD&OHJOFFSJOH 4DJFODFTBDDFQUFEJUTýSTUJOUBLFPG TUVEFOUTFOSPMMFEXJUI QSPHSBNNFT CVUBMTPIJHIMJHIUT/56T 1I%TUVEFOUTJO"VHVTU t 1BSJT*OTUJUVUFPG5FDIOPMPHZ KPJOU VOJRVFSPMFBTBHMPCBMIVCPGUIF&BTU t $BSOFHJF.FMMPO6OJWFSTJUZ EVBM 1I%QSPHSBNNFJO&MFDUSJDBM *O": UPHFUIFSXJUIUIF6OJWFSTJUZ BOEUIF8FTU 1I%QSPHSBNNFJO&OHJOFFSJOH &MFDUSPOJD&OHJOFFSJOH PG8BSXJDL /56MBVODIFEBdouble 5IF/BOZBOH#VTJOFTT4DIPPMTJHOFE t 5FDIOJPO*TSBFM*OTUJUVUFPG Masters programmeDPWFSJOHDSPTT t )FCSFX6OJWFSTJUZPG+FSVTBMFN OFXBHSFFNFOUTGPSUIFFYDIBOHFPG 5FDIOPMPHZ KPJOU1I%QSPHSBNNF EJTDJQMJOBSZBQQSPBDIFTUPHMPCBM KPJOU1I%QSPHSBNNFJO .#"TUVEFOUTXJUI.D(JMM6OJWFSTJUZ JO.BUFSJBMT4DJFODFBOE JTTVFT JODMVEJOHFDPOPNJD QPMJUJDBM &OWJSPONFOUBM-JGF4DJFODFT 6OJWFSTJUË$PNNFSDJBMF-VJHJ &OHJOFFSJOH TPDJBMBOETUSBUFHJDJOþVFODFT5IF #PDDPOJ 6OJWFSTJUZPG.JDIJHBOBOE t 6OJWFSTJUZPG4PVUIBNQUPO JOBVHVSBMCBUDIPGTUVEFOUTKPJOFEUIF t 6OJWFSTJUZPG5FDIOPMPHZPG /PSUIXFTUFSO6OJWFSTJUZ KPJOU1I%QSPHSBNNFJO 43BKBSBUOBN4DIPPMPG*OUFSOBUJPOBM 5SPZFT KPJOU1I%QSPHSBNNFJO 0QUPFMFDUSPOJDTBOE$IFNJTUSZ 4UVEJFTJO": &OHJOFFSJOH t 5FDIOJDBM6OJWFSTJUZPG%BSNTUBEU /56BOEUIF(FOFWBCBTFE /56BMTPFTUBCMJTIFEnew The Interdisciplinary Graduate School will bring together multiple academic perspectives KPJOU1I%QSPHSBNNFJO7JTVBM *OUFSOBUJPOBM"JS5SBOTQPSU"TTPDJBUJPO programmes XJUI related to sustainability, new media and healthcare $PNQVUJOH UJFEVQUPMBVODIUIFKPJOUAdvanced
NTU ANNUAL REPORT 2011 24 25 NTU ANNUAL REPORT 2011 Inter-hall competitions like this dance !esta LEARNING add to the vibrancy of life at Singapore’s largest residential campus STUDENT EXPERIENCE : Cheah Wei Chun : Cheah Wei Art direction : Kevin Yang : Kevin Yang Photo
More e-learning opportunities with 80% of lectures recorded and placed online
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NTU ANNUAL REPORT 2011 26 27 NTU ANNUAL REPORT 2011 6OWFJMFEJO'FCSVBSZ /56T$BNQVT.BTUFS1MBO BJNTUPFOIBODFMFBSOJOH UFBDIJOHBOESFTFBSDICZ USBOTGPSNJOHUIF:VOOBO (BSEFODBNQVT(VJEFECZ TVTUBJOBCJMJUZQSJODJQMFT UIF QMBOTFFLTUPUVSO/56JOUP Pedestrian areas with shops and restaurants will be a feature of the BNJOJDJUZXJUIOBUVSBMHSFFO new campus centre at the heart of NTU DPSSJEPST*UXJMMQSPNPUFDSPTT WBSTJUZJOUFSBDUJPOBOETVQQPSU MFBSOJOHOFFETUPDPNF
New learning and relaxation spaces at the redeveloped campus spines The new Campus Master Plan sustains and enriches NTU’s natural setting, best described as a “university in a park”
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NTU ANNUAL REPORT 2011 28 29 NTU ANNUAL REPORT 2011 At the state-of-the-art Immersive Room, a 320-degree seamless rounded screen blurs the line between virtual and reality
DISCOVERING TOMORROW
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NTU ANNUAL REPORT 2011 30 31 NTU ANNUAL REPORT 2011 DISCOVERY
RESEARCH
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Competitive Funding
/56THSPXJOHQSPýMFBTBMFBEFSJOJOOPWBUJPOBOESFTFBSDI IBTBUUSBDUFETVTUBJOFEDPNQFUJUJWFGVOEJOH5IFVOJWFSTJUZT FYUFSOBMDPNQFUJUJWFSFTFBSDIGVOEJOHBXBSETSPTFGSPN The university’s external competitive research funding awards rose from S$92 million in FY2005 to S$436.8 million in FY2010 4NJMMJPOJO':UP4NJMMJPOJO': 5IFFYUFSOBMHSBOUTBXBSEFEXFSFCPPTUFECZCMPDL #FSLFMFZ&EVDBUJPO"MMJBODFGPS Research Centre for a TJYUICompetitive Research HSBOUTGSPNPSHBOJTBUJPOTTVDIBT4JOHBQPSFT/BUJPOBM 3FTFBSDIJO4JOHBQPSF XIJDI Sustainable Low Carbon Future Programme HSBOUDBMM5IFHSBOUT 3FTFBSDI'PVOEBUJPO UIF&DPOPNJD%FWFMPQNFOU#PBSE IBTMBVODIFEBOJOUFSEJTDJQMJOBSZ (SPURc)#PUIQSPKFDUTXFSF XFSFXPOCZ1SPG:PPO4PPO &OWJSPONFOU8BUFS*OEVTUSZ1SPHSBNNF0GýDF .JOJTUSZPG QSPKFDUUPNBLFCVJMEJOHTJOUIF BOOPVODFEJO+VOF 'BUUBOE"TTPD1SPG)JMNJ7PMLBO &EVDBUJPOBOEUIF.FEJB%FWFMPQNFOU"VUIPSJUZ BTXFMMBT USPQJDTNPSFFOFSHZFGýDJFOU %FNJS t 0UIFSOPUFXPSUIZTVDDFTTFTCZ CZTUSBUFHJDQBSUOFSTIJQTXJUIMFBEJOHDPNQBOJFT 5IF$3&"5&DPMMBCPSBUJPOXJUI /56JOTFDVSJOH/BUJPOBM3FTFBSDI t %FNPOTUSBUJOHUIFDPNNFSDJBM *TSBFMT#FO(VSJPO6OJWFSTJUZ t 4VTUBJOBCJMJUZSFTFBSDIDPOUJOVFTUPSBOLIJHIPO/56T 'PVOEBUJPOHSBOUTJODMVEFUXPPVU QPUFOUJBMPGJUTSFTFBSDI /56 PGUIF/FHFWBOEUIF)FCSFX SFTFBSDIBHFOEB*O': UIFNPTUTJHOJýDBOU PGGPVSEnvironment Technology DMJODIFETFWFOPVUPGHSBOUTPG 6OJWFSTJUZPG+FSVTBMFNBJNTUP FYUFSOBMDPNQFUJUJWFSFTFBSDIHSBOUSFDFJWFEXBT Research ProgrammeHSBOUT VQUP4 FBDIVOEFSUIF ýOEnanomaterial solutionsUIBU GSPNUIF/BUJPOBM3FTFBSDI'PVOEBUJPOGPSUIF XPSUI4NJMMJPOQFSQSPKFDU /BUJPOBM3FTFBSDI'PVOEBUJPOT JODSFBTFFOFSHZFGýDJFODZBOE TUM-CREATE Centre for Electromobility BKPJOU BXBSEFECZ4JOHBQPSFT/BUJPOBM Proof-of-ConceptTDIFNF XIJDI SFEVDFXBUFSXBTUBHF QSPHSBNNFCZ/56BOE5FDIOJDBM6OJWFSTJUZPG.VOJDI &OWJSPONFOU"HFODZBOEUIF BJNTUPUVSOSFTFBSDIJEFBTJOUP UPEFWFMPQTVTUBJOBCMFUSBOTQPSUBUJPOTPMVUJPOT t /56JTBMTPDPOUSJCVUJOHUPUXP &OWJSPONFOU8BUFS*OEVTUSZ DPNNFSDJBMJTBCMFQSPUPUZQFT $3&"5& $BNQVTGPS3FTFBSDI&YDFMMFODFBOE PUIFS$3&"5&QSPKFDUT5IF %FWFMPQNFOU$PVODJM5IF t *OBEEJUJPO UIFNational Institute 5FDIOPMPHJDBM&OUFSQSJTF JTBOJOJUJBUJWFPGUIF/BUJPOBM ýSTUJTUIFSMART (Singapore- SFDJQJFOUTXFSF1SPG-PI5FDL of EducationSFDFJWFEB4 3FTFBSDI'PVOEBUJPOUPGPTUFSUJFTCFUXFFOFMJUF MIT Alliance for Research 1FOHBOE"TTPD1SPG9V3POH NJMMJPOHSBOUGSPNUIF/BUJPOBM PWFSTFBTVOJWFSTJUJFTBOE4JOHBQPSFCBTFEJOTUJUVUJPOT & Technology) Centre’s Launch of the Solar Fuels Laboratory: (from left) Asst Prof Joachim t /56BMTPXPOUXPPVUPGGPVS 3FTFBSDI'PVOEBUJPOUPTFUVQ t /56JTBMTPUIFNBKPSVOJWFSTJUZQBSUOFSGPSUXPPUIFS interdisciplinary research group Loo, NTU Provost Prof Freddy Boey, NTU President Prof Bertil BXBSETXPSUI4NJMMJPOQFS EduLab BTQBDFGPSFEVDBUPSTUP on low-energy electronics $3&"5&QSPHSBNNFT8PSLJOHXJUIUIF6OJWFSTJUZ Andersson, and NTU Visiting Professor James Barber from Imperial QSPKFDUPWFSýWFZFBSTVOEFSUIF EFWFMPQMFTTPOTBOEDVSSJDVMBUIBU systems XIJMFUIFPUIFSJTUIF PG$BMJGPSOJB #FSLFMFZ /56XJMMDPOUSJCVUFUPBEARS College London /BUJPOBM3FTFBSDI'PVOEBUJPOT BSFCBTFEPOOFXNFEJB Singapore-Peking University
NTU ANNUAL REPORT 2011 32 33 NTU ANNUAL REPORT 2011 DISCOVERY
,POH %JSFDUPSPGUIF/BUJPOBM*OTUJUVUFPG&EVDBUJPO iBSUJýDJBMMFBGwTPMVUJPOTUIBUVTFTVOMJHIUUPFYUSBDU UIJTCPEZJTBDDSFEJUFECZ'FEFSBMXJEF"TTVSBODFBOE IZESPHFOGSPNXBUFS/56SFTFBSDIFSTXJMMCF UIF0GýDFGPS)VNBO3FTFBSDI1SPUFDUJPOT/56JTBMTP DPMMBCPSBUJOHXJUIUIFJSDPVOUFSQBSUTBU*NQFSJBM$PMMFHF XPSLJOHXJUI&QJHFVNUPEFWFMPQBOPOMJOFDPVSTFUIBU -POEPO1MBZJOHBOBEWJTPSZSPMFBUUIFMBCPSBUPSZJT1SPG UFBDIFTLFZFMFNFOUTPGSFTFBSDIJOUFHSJUZ +BNFT#BSCFS &SOTU$IBJO1SPGFTTPSPG#JPDIFNJTUSZBU *NQFSJBM$PMMFHF-POEPO t Core research facilities and infrastructureUIBU TFSWFUIF/56SFTFBSDIDPNNVOJUZJODMVEFUIF t 4PMBSFOFSHZJTBMTPUIFJNQFUVTCFIJOE/56T4 )JHI1FSGPSNBODF$PNQVUJOH$FOUSF PVSTUSVDUVSBM NJMMJPOCentre for Nanostructured Photosystems HFOPNJDTGBDJMJUZ UIF/BOZBOH/BOP'BCSJDBUJPO$FOUSF "MTPMBVODIFEJO+VMZ JUJTMFECZUIFQJPOFFSJOH BOEUIF'BDJMJUZGPS"OBMZTJT $IBSBDUFSJTBUJPO 5FTUJOH CJPDIFNJTU1SPG.JDIBFM(SÊU[FMBOEXJMMUFTUCFETPMBS 4JNVMBUJPO5IFTFFOIBODF/56TBCJMJUZUPBUUSBDU DFMMJOOPWBUJPOTBOEDMFBOFOFSHZTZTUFNT MFBEJOHSFTFBSDIFST BOEBDUBTGPDBMQPJOUTBSPVOE t /56MBVODIFEUIFTUM-CREATE Centre for XIJDIOFXMBCPSBUPSJFTBOESFTFBSDIDFOUSFTDBOCF ElectromobilityXJUIUIF5FDIOJDBM6OJWFSTJUZPG.VOJDI FTUBCMJTIFE UPESJWFSFTFBSDIJOFMFDUSJDWFIJDMFTTPMVUJPOTGPSUSPQJDBM t #FTJEFTQSPWJEJOHIJHIMFWFMTVQQPSUUP/56TSFTFBSDI DJUJFT*UTJOEVTUSZQBSUOFSTJODMVEF&"%44JOHBQPSF DPNNVOJUZ UIFResearch Support Of!ceJTXPSLJOH (FNBMUP *#.4JOHBQPSF *OýOFPO5FDIOPMPHJFT"TJB UPFOIBODFSFTFBSDIBENJOJTUSBUJPOFYDFMMFODFUISPVHI 1BDJýD 3PCFSU#PTDI 4&" -UE 4JFNFOT"( 45 UIFResearch Administrators’ Network BVOJWFSTJUZ ,JOFUJDTBOEUIF4PMBS&OFSHZ3FTFBSDI*OTUJUVUF The Institute on Asian Consumer Insight will answer questions such as how unique Asian tastes and cultures impact buying decisions XJEFBSSBOHFNFOUGPSSFTFBSDIBENJOJTUSBUPSTUPCF PG4JOHBQPSF FRVJQQFEUPTVQQPSUGBDVMUZUPQSFQBSFDPNQFUJUJWF t "OFX4NJMMJPOJOUFSOBUJPOBMSFTFBSDIDFOUSFGPS t /56IBTBMTPBDIJFWFETVDDFTTJOTFDVSJOH5JFS *OTUJUVUFGPS.FEJB*OOPWBUJPOTBeingThere CentreIBWF SFTFBSDIQSPQPTBMT UFMFQSFTFODFBOEUFMFDPMMBCPSBUJPOLOPXOBTUIF HSBOUTGSPN4JOHBQPSFTMinistry of Education SFDFJWFE4NJMMJPO 4NJMMJPOBOE4NJMMJPO BeingThere CentreJTTUVEZJOHXBZTUPSFWPMVUJPOJTF XJUIJUTTVDDFTTSBUFEPVCMJOHGSPNJO'FCSVBSZ SFTQFDUJWFMZGSPNUIF.FEJB%FWFMPQNFOU"VUIPSJUZ New Centres and Institutes DPNNVOJDBUJPOJOUIFTUDFOUVSZ"DPMMBCPSBUJPO 4 UPJO'FCSVBSZ CFUXFFO/56 &5);VSJDIBOEUIF6OJWFSTJUZPG/PSUI 4 Building Excellence *O": /56GVSUIFSCPPTUFEJUTQBSUOFSTIJQTXJUIMFBEJOH VOJWFSTJUJFT DPNQBOJFTBOEHPWFSONFOUCPEJFT"TBMXBZT t *OUIFJOUFSOBUJPOBMBSFOB /56SFDFJWFE&63NJMMJPO /56TSFTFBSDITDFOFIBTCFOFýUFEGSPNUIFJODSFBTFJO UIFFNQIBTJTIBTCFFOPOSFTFBSDIXJUITPDJFUBMSFMFWBODF 4NJMMJPO GSPNUIF"9"3FTFBSDI'VOEUPDSFBUFB FYUFSOBMGVOEJOHBOECPPTUJOSFTFBSDIUBMFOU DPVQMFEXJUI BOEJNQBDU QFSNBOFOUChair in Natural HazardsIFMECZ1SPG,FSSZ DPMMBCPSBUJPOTXJUIMFBEJOHHMPCBMVOJWFSTJUJFTBOEJOEVTUSZ t /56BOEUIF&DPOPNJD%FWFMPQNFOU#PBSEBSF 4JFI %JSFDUPSPGUIF&BSUI0CTFSWBUPSZPG4JOHBQPSF QBSUOFST 5IJTJTUIFýSTU"9"$IBJSJO"TJB QBSUOFSTPOUIFInstitute on Asian Consumer Insight t *NQMFNFOUJOHresearch proposal quality controlIBT 5IJTOBUJPOBMDFOUSFBU/56JTUIFýSTUPSHBOJTBUJPOJO t /56SFDFJWFEGSPNUIF&DPOPNJD%FWFMPQNFOU#PBSE CFFODSJUJDBM5IFNTU Research Council DIBJSFE UIFXPSMEUPGPDVTPO"TJBODPOTVNFSCFIBWJPVS*U 4NJMMJPOGPSUIFEFWFMPQNFOUPGVIRTUS, IC CZ1SPG#FOHU/PSEÏOGSPN$IBMNFST6OJWFSTJUZPG XJMMIFMQFTUBCMJTI4JOHBQPSFBTBQBO"TJBODPOTVNFS Design Centre of Excellence 5FDIOPMPHZ 4XFEFO BOEGPSNFS$IBJSPGUIF/PCFM SFTFBSDIIVCCZFYBNJOJOHUIFXBOUTBOEQSFGFSFODFT $PNNJUUFFGPS$IFNJTUSZ DPOUJOVFTUPQMBZBNBKPSSPMF t /56BOEUIF&DPOPNJD%FWFMPQNFOU#PBSEIBWF PG"TJBODPOTVNFSTTPCVTJOFTTFTDBOCFUUFSEFWFMPQ JOSFWJFXJOHSFTFBSDIQSPQPTBMT5IFDPVODJMBMTPIFMQT BMTPKPJOUMZGVOEFEUIFInstitute on Asian Consumer UIFJSTUSBUFHJFTGPS"TJBONBSLFUT5IFJOTUJUVUFXJMMBMTP UPSFWJFXBQQMJDBUJPOTGPSUIFQSFNJFS/BOZBOH"TTJTUBOU Insight BOFXHMPCBMDFOUSFTUVEZJOHQBO"TJBO PGGFSFYFDVUJWFUSBJOJOHBOEB.BTUFSTQSPHSBNNFJO 1SPGFTTPSTIJQ/56TJOUFSEJTDJQMJOBSZSFTFBSDIDFOUSFT DPOTVNFSCFIBWJPVS#BTFEBUUIF/BOZBOH#VTJOFTT .BSLFUJOH BOEJOTUJUVUFTBSFSFHVMBSMZSFWJFXFECZSFOPXOFE 4DIPPM UIFOBUJPOBMDFOUSFXJMMSFDFJWFTVQQPSUPGVQUP t *O+VMZ /56FTUBCMJTIFEUIFSolar Fuels JOUFSOBUJPOBMFYQFSUTGPSUIFJSDPOUJOVFEWJBCJMJUZ 4NJMMJPOPWFSýWFZFBST Laboratory4FUVQXJUITFFEGVOEJOHPG4NJMMJPO The Centre for Nanostructured Photosystems is led by Prof Michael t /56TUSJWFTUPSBJTFSFTFBSDIJOUFHSJUZUISPVHIJUTOFX t Fraunhofer IDM@NTU COSMIC (the Centre of UIFDFOUSFJTUIFýSTUPGJUTLJOEJO"TJBBOEBJNTUP Grätzel, the Swiss pioneer of “arti!cial photosynthesis” and a key Institutional Review Board$IBJSFECZ1SPG-FF4JOH Social Media Innovations for Communities)BOEUIF DSFBUFTVTUBJOBCMFFOFSHZTPVSDFTCZEFWFMPQJOH !gure in NTU’s sustainable energy initiatives
NTU ANNUAL REPORT 2011 34 35 NTU ANNUAL REPORT 2011 DISCOVERY
Energy5PHFUIFSXJUIUIF Research Centre TQPOTPST "VTUSJBO*OTUJUVUFPG5FDIOPMPHZ BOEEJSFDUTQSJNBSZSFTFBSDI UIFDFOUSFXJMMTUVEZXBZTUP POJOTVSBODFSJTL "TJBODBQJUBM IBSWFTUTPMBSUIFSNBMFOFSHZNPSF NBSLFUTBOEPUIFSJNQPSUBOU FGýDJFOUMZ ýOBODFSFMBUFEJTTVFTJOUIF "TJB1BDJýD5IFDFOUSFTXPSL t VIRTUS, IC Design Centre JTTVQQPSUFECZ3FHB$BQJUBM of Excellence JTB4 .BOBHFNFOUBOEPUIFSDPSQPSBUF NJMMJPOJOUFHSBUFEDJSDVJUEFTJHO TQPOTPST SFTFBSDIDFOUSFTFUVQCZ/56 BOE4JOHBQPSFT&DPOPNJD t /56BOEUIF4JOHBQPSF&YDIBOHF %FWFMPQNFOU#PBSE*UTFFLT KPJOFEGPSDFTUPTUBSUUIFNTU- UPEFWFMPQUFDIOPMPHJFTGPS SGX Centre for Financial JOUFHSBUFEDJSDVJUTBOETZTUFNT EducationBUUIF/BOZBOH GPSBQQMJDBUJPOTJONFEJDBM #VTJOFTT4DIPPM5IFDFOUSF UFDIOPMPHJFT DMFBOUFDIOPMPHJFT QSPWJEFTBOFOWJSPONFOUUIBU BOEDPOTVNFSFMFDUSPOJDT IFMQTTPQIJTUJDBUFENBSLFU "NPOHUIFDFOUSFTQBSUOFST QBSUJDJQBOUTBOEJOWFTUPSTJO BSFUIF6OJWFSTJUZPG.JDIJHBO ýOBODJBMNBSLFUTQMBOOJOH 1VSEVF6OJWFSTJUZ UIF6OJWFSTJUZ EFWFMPQNFOUBOEHPWFSOBODF PG$BMJGPSOJB -PT"OHFMFT The NTU-SGX Centre for Financial *OBEEJUJPOUPOFXDFOUSFTBOE 5FDIOJDBM6OJWFSTJUZPG.VOJDI Education – Asia’s !rst “live” trading lab JOTUJUVUFT /56BMTPMBVODIFEB -JOLÚQJOH6OJWFSTJUZ ;IFKJBOH within a university GSFTIQBSUOFSTIJQXJUIUIFGerman 6OJWFSTJUZBOE'VEBO6OJWFSTJUZ Aerospace Centre UPDPOEVDU BTXFMMBT"HJMFOU5FDIOPMPHJFT Fraunhofer IDM@NTU conducts research on interactive and digital media with real-world applications in education, entertainment and t 8JOEFOFSHZJTBOPUIFSFNFSHFOU SFTFBSDIJOTBUFMMJUFTBOEHVJEFE tourism. It is jointly set up with Fraunhofer-Gesellschaft, the largest organisation for applied research in Europe &YQMPJU5FDIOPMPHJFT *OýOFPO ýFMEBU/564QFBSIFBEFEXJUI OBWJHBUJPO SFNPUFTFOTJOHBOETJHOBM 5FDIOPMPHJFT .FEJBUFL*OD 4QBOJTIXJOEUFDIOPMPHZHJBOU QSPDFTTJOH BOEVONBOOFEBFSJBM 4JMJDPO$PSF5FDIOPMPHZ 4ZTUFNT (BNFTB UIF Gamesa Advanced WFIJDMFT BTXFMMBTTVTUBJOBCJMJUZ $BSPMJOBBU$IBQFM)JMM UIFDFOUSFSFDFJWFTTVQQPSUGSPN PO4JMJDPO.BOVGBDUVSJOH$PBOE Materials Research CentreJTUIF SFTFBSDI 4JOHBQPSFT.FEJB%FWFMPQNFOU"VUIPSJUZ 7FSJHZ ýSTUJO4PVUIFBTU"TJBUPDPOEVDU "OBHSFFNFOUXBTBMTPTJHOFE t "KPJOUJOJUJBUJWFPG/56BOE'SBVOIPGFS(FTFMMTDIBGU SFTFBSDIJOUPXJOEUVSCJOFCMBEF t 5IF&DPOPNJD%FWFMPQNFOU XJUI(FSNBOUFDIOPMPHZDPNQBOZ Fraunhofer IDM@NTUEFWFMPQTSFBMXPSME DPBUJOHTUIBUDBOXJUITUBOE #PBSEXJMMCFGVOEJOHUIF Institute memsysUPSFTFBSDIXBUFS UFDIOPMPHJFTBOEBQQMJDBUJPOTCBTFEPOWJTVBM FYUSFNFDPOEJUJPOT for Sports Research BKPJOU EFTBMJOBUJPOUFDIOPMPHJFT XJUIBGPDVT DPNQVUJOH"NPOHUIFDFOUSFTSFTFBSDIQBSUOFST DPMMBCPSBUJPOCFUXFFO/56BOE t /56BOE40-*%"4*" POFPGUIF PONFNCSBOFT5IFKPJOUQSPKFDUJT BSF(SB[6OJWFSTJUZPG5FDIOPMPHZBOE6OJWFSTJUZPG -PVHICPSPVHI6OJWFSTJUZ XPSMETMFBEJOHTPMBSFRVJQNFOU TVQQPSUFECZB4 HSBOUGSPN %BSNTUBEU XJUIUIF.FEJB%FWFMPQNFOU"VUIPSJUZ DPNQBOJFT QPPMFEUIFJSFYQFSUJTF t 8JUIHMPCBMJOTVSBODFDPNQBOZ UIF&OWJSPONFOU8BUFS*OEVTUSZ QSPWJEJOHGVOEJOHTVQQPSU5IFDFOUSFJT'SBVOIPGFST UPTUBSUUIF4NJMMJPOCentre 4$03BTJUTQBSUOFS /56T 1SPHSBNNF0GýDF ýSTUEJHJUBMNFEJBSFTFBSDIGBDJMJUZPVUTJEFPG&VSPQFBOE of Excellence in Solar Thermal Insurance Risk & Finance UIF6OJUFE4UBUFT
t MicroVision BMFBEFSJOJOOPWBUJWFVMUSBNJOJBUVSF EJTQMBZUFDIOPMPHZ IBTBMTPFTUBCMJTIFEJUTýSTUHMPCBM
SFTFBSDIBOEEFWFMPQNFOUDFOUSFBU/56*UXJMMJODMVEF Sustainable transport solutions are being developed at the TUM- BDVTUPNJTFEMBCPSBUPSZBU/56T*OOPWBUJPO$FOUSF CREATE Centre for Electromobility
NTU ANNUAL REPORT 2011 36 37 NTU ANNUAL REPORT 2011 DISCOVERY
WORLD-CLASS FACULTY
t Prof Krishna V Palem t Asst Prof Ali Miserez t Asst Prof Hirotaka Sato /BOZBOH7JTJUJOH1SPGFTTPS 4DIPPMPG.BUFSJBMT4DJFODF 4DIPPMPG.FDIBOJDBM"FSPTQBDF 4DIPPMPG1IZTJDBM.BUIFNBUJDBM &OHJOFFSJOH &OHJOFFSJOH 4DJFODFT BOE%JSFDUPSBOE t Asst Prof Wang Xianfeng t Asst Prof Ivan Shelykh 'PVOEFS *4"*% UIF*OTUJUVUF &04 4DIPPMPG1IZTJDBM.BUIFNBUJDBM PG4VTUBJOBCMF"QQMJFE i8FWFSFDSVJUFEGBOUBTUJD 4DJFODFT *OGPEZOBNJDT /56TPXOQSFNJFSZPVOHGBDVMUZ TFOJPSBOEZPVOH SFDSVJUNFOUQSPHSBNNF UIFFMJUF 5IFSFDJQJFOUTPGUIFJOBVHVSBMEFGFODF BDBEFNJDTy5IFCFTU t Prof Michael Kuhl Nanyang Assistant Professorship TDIPMBSTIJQTBXBSEFECZ4JOHBQPSFT SFTFBSDIFSTBOEBMTPUIF 7JTJUJOH1SPGFTTPS 4DIPPMPG IBTSFDFJWFENPSFUIBO .JOJTUSZPG%FGFODFBSF CFTUUFBDIFSTUIBUDPNFUP #JPMPHJDBM4DJFODFT BQQMJDBUJPOTGSPNPWFSDPVOUSJFT 4JOHBQPSFDPNFUP/56w t Dr Oleg Vasylkiv (Temasek t Prof Daniel Hamlet Huson TJODFJUTMBVODIJO5IF Research Fellowship) o1SPG#FSUJM"OEFSTTPO 7JTJUJOH1SPGFTTPS 4DIPPMPG QSPGFTTPSTIJQBXBSET4NJMMJPO 5FNBTFL-BCPSBUPSJFT!/56 /561SFTJEFOU 4UBUF #JPMPHJDBM4DJFODFT PWFSUISFFZFBSTGPSSFTFBSDIBOE PGUIF6OJWFSTJUZ"EESFTT IBTBUUSBDUFEFYDFQUJPOBMZPVOH t Dr Edwin Teo (Nanyang-DSO t Prof Abeyaratne Rohan Chandra SFTFBSDIFSTGSPNEJWFSTFEJTDJQMJOFT Post-Doctoral Fellowship) 7JTJUJOH1SPGFTTPS 4DIPPMPG UP/565IFSFBSFOPX/BOZBOH 5FNBTFL-BCPSBUPSJFT!/56 1IZTJDBM.BUIFNBUJDBM4DJFODFT "TTJTUBOU1SPGFTTPSTBU/565IF GPVSUIDBMMTBXBQQMJDBUJPOT PVU Prof Stephen Kevin Smith, Vice President (Research) and Founding Dean of the Lee Kong Chian School of Medicine Other Appointments PGXIJDITFWFOXFSFTFMFDUFE0VS /56JTUIFDIPJDFPGUIFMJPOTTIBSFPG /BOZBOH"TTJTUBOU1SPGFTTPSTIJQ &YDFMMFOUGBDJMJUJFT BTVQQPSUJWFFOWJSPONFOUBOESFTPVSDFT t Prof Michael Givskov UIFCSJHIUFTUZPVOHGBDVMUZXIPDBNF SFDJQJFOUTBSF UPGVMýMUIFJSBDBEFNJDBOESFTFBSDIHPBMToUIFTFBSFKVTU $MVTUFS-FBEFS 4$&-4& UP4JOHBQPSFUISPVHIUIF4JOHBQPSF t Asst Prof Cao Fan TPNFPGUIFSFBTPOT/56DPOUJOVFTUPBUUSBDUUIFCFTU /BUJPOBM3FTFBSDI'PVOEBUJPOTFMJUF t Prof Janie Fouke 4DIPPMPG)VNBOJUJFT4PDJBM NJOETGSPNBSPVOEUIFXPSME ZPVOHJOWFTUJHBUPSTDIFNF*O+BOVBSZ %FBO $PMMFHFPG&OHJOFFSJOH 4DJFODFT ýWFPVUPGUIFNational Senior Appointments t Prof Liu Hong Research Foundation FellowsDIPTF t Asst Prof Hajime Hirao $IBJS 4DIPPMPG)VNBOJUJFT4PDJBM4DJFODFT "OVNCFSPGXPSMEDMBTTBDBEFNJDTSFOPXOFEJOUIFJS /56PWFSPUIFSVOJWFSTJUJFTBOEQVCMJD 4DIPPMPG1IZTJDBM.BUIFNBUJDBM SFTQFDUJWFýFMETPGTUVEZKPJOFE/56TBDBEFNJDBOE t Prof Anthony Hayes BHFODJFTJO4JOHBQPSF0VS 4DJFODFT 'FMMPXTBSF SFTFBSDIDPNNVOJUZ )FBE %JWJTJPOPG1TZDIPMPHZ 4DIPPMPG)VNBOJUJFT t Asst Prof Li Mo 4PDJBM4DJFODFT t Prof Stephen Kevin Smith7JDF1SFTJEFOU 3FTFBSDI t Assoc Prof Cho Nam-Joon 4DIPPMPG$PNQVUFS&OHJOFFSJOH 4DIPPMPG.BUFSJBMT4DJFODF BOE%FBO -FF,POH$IJBO4DIPPMPG.FEJDJOF t Assoc Prof Charles M Rubin t Asst Prof Loh Zhi Heng )FBE %JWJTJPOPG&BSUI4DJFODFT 4DIPPMPG1IZTJDBM &OHJOFFSJOH t Prof Staffan Kjelleberg 4DIPPMPG1IZTJDBM.BUIFNBUJDBM .BUIFNBUJDBM4DJFODFT %JSFDUPS 4JOHBQPSF$FOUSFPO&OWJSPONFOUBM-JGF t Asst Prof Emma Hill 4DJFODFT &BSUI0CTFSWBUPSZPG4JOHBQPSF 4DJFODFT&OHJOFFSJOH 4$&-4& Visiting Professors t Asst Prof Rei Kinjo &04 4DIPPMPG1IZTJDBM.BUIFNBUJDBM t Prof Yehuda Cohen t Prof Michael Grätzel t Asst Prof Kimberly Kline 4DJFODFT Prof Janie Fouke, Dean of the College of %FQVUZ%JSFDUPS 4$&-4& "EWJTPS $FOUSFGPS/BOPTUSVDUVSFE1IPUPTZTUFNT 4$&-4& Engineering t Prof Stephan Schuster t Prof Atila Alvandpour $MVTUFS-FBEFS 4$&-4& 7JTJUJOH1SPGFTTPS 4DIPPMPG&MFDUSJDBM&MFDUSPOJD t Prof Stefan Wuertz &OHJOFFSJOH BOE%JSFDUPSPG7*3564 *$%FTJHO$FOUSF $MVTUFS-FBEFS 4$&-4& PG&YDFMMFODF
NTU ANNUAL REPORT 2011 38 39 NTU ANNUAL REPORT 2011 DISCOVERY
RESEARCH SPOTLIGHT
*O": /56TUISJWJOHSFTFBSDI The world’s smallest on-chip low- TDFOFFODPNQBTTFEUIFXJEFFYQBOTF pass !lter EFWFMPQFECZ1SPG:FP PGPVUFSTQBDFUPUIFOBOPTDBMF ,JBU4FOHPGUIF4DIPPMPG&MFDUSJDBM )FSFTBTIPXDBTFPGJOUFSEJTDJQMJOBSZ &MFDUSPOJD&OHJOFFSJOH JT UJNFT SFTFBSDIFGGPSUTBOEJOJUJBUJWFTUIBU TNBMMFSUIBOFYJTUJOHPGGDIJQýMUFST Chun : Cheah Wei EFNPOTUSBUFUIFVOJWFSTJUZTEJWFSTF *UDBOMFBEUPBWBTUJNQSPWFNFOUJO i"U/56 XFIBWF TUSFOHUIT TJHOBMRVBMJUZBTJUSFNPWFTOFBSMZBMM HPPEXBZTPGUVSOJOH Art direction VOXBOUFEJOUFSGFSFODFBOEOPJTFJOUIF Sustainable Earth FOWJSPONFOU5IJTSFTVMUTJOFOIBODFE JEFBTJOUPSFBMJUZw DMBSJUZGPSVTFSTPGNPCJMFQIPOFTBOE : Kevin Yang 5IJTXBTUIFZFBS/56NBEFJU
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NTU ANNUAL REPORT 2011 40 41 NTU ANNUAL REPORT 2011 DISCOVERY
UIBUJUJTQPTTJCMFUP predict business fraud with better )FBMUIDBSF/BUJPOBM)FBMUI4FSWJDF5SVTU"HZOBFDPMPHJTU Asst Prof Emma Hill accuracy4UVEJFTTIPXUIBUJGPOFBWPJEFEJOWFTUJOHXJUI CZUSBJOJOHBOEBQSPMJýDSFTFBSDIFS IFIBTQVCMJTIFEPWFS National Research Foundation Research Fellow and UIFPGýSNTXJUIUIFIJHIFTUGSBVESJTL BTDBMDVMBUFECZ QBQFSTPOSFQSPEVDUJWFNFEJDJOFBOEDBODFS)F Principal Investigator, Tectonics Group, Earth Observatory UIFSFTFBSDINPEFM POFXPVMEBWPJEPGGSBVEoBOE MFEUIFGPSNBUJPOPGUIF6OJUFE,JOHEPNTýSTU"DBEFNJD of Singapore NPSFTUSJLJOHMZ NPSFUIBOPGUIFEPMMBSMPTTFTGSPN )FBMUI4DJFODF$FOUSFBOETQFBSIFBEFEUIFEFWFMPQNFOU "HFPEFTJTUXJUIBOJOUFSFTUJODMJNBUFDIBOHFBOE GSBVEDPVMECFQSFWFOUFE5IFHSPVOECSFBLJOHTUVEZXBT PGUIF(MPCBM.FEJDBM&YDFMMFODF$MVTUFSGPS-POEPOBOE DSVTUBMEFGPSNBUJPO "TTU1SPG)JMMPCUBJOFEIFS1I%JO POFPGPOMZýWF GSPN SFTFBSDIQBQFSTTVCNJUUFE UP 4PVUI&BTU&OHMBOE1SPG4NJUIJTBGPVOEFSNFNCFSPG HFPQIZTJDTGSPNUIF6OJWFSTJUZPG/FWBEB 3FOP CFGPSF SFDFJWFBOBXBSEGSPNUIF&VSPQFBO'JOBODF"TTPDJBUJPO .FUSJT5IFSBQFVUJDT-UEBOE(/*(SPVQ*O IFXBT DPNQMFUJOHBQPTUEPDUPSBMGFMMPXTIJQBUUIF)BSWBSE SFDPHOJTFEBUUIF/BUJPOBM)FBMUI4FSWJDF-FBEFSTIJQ A vein pattern recognition systemEFWFMPQFECZ"TTU1SPG 4NJUITPOJBO$FOUFSGPS"TUSPQIZTJDT .BTTBDIVTFUUT "XBSETJO&OHMBOE XIFSFIFXBTOBNFE*OOPWBUPSPGUIF "EBNT,POHPGUIF4DIPPMPG$PNQVUFS&OHJOFFSJOHIBT XIFSFTIFTVCTFRVFOUMZTFSWFEBTBSFTFBSDITDJFOUJTU :FBS*OBEEJUJPO IFXBTUIFPOMZ/BUJPOBM)FBMUI4FSWJDF NBEFJUQPTTJCMFUPJEFOUJGZDSJNJOBMTCBTFEPOUIFWFJOTPO "/BOZBOH"TTJTUBOU1SPGFTTPS TIFJTDVSSFOUMZTUVEZJOH DIJFGFYFDVUJWFUPCFMJTUFEJOHealth Service Journal’T UIFJSCPEJFT"XBSEFEB4 1SPPGPG$PODFQUHSBOU UIFUFDUPOJDTPGUIF4VNBUSBOTVCEVDUJPO[POF BTXFMMBT SBOLJOHTPGUIFUPQNPTUQPXFSGVMQFPQMFJO GSPNUIF/BUJPOBM3FTFBSDI'PVOEBUJPO UIJTSFTFBSDIIBT HMBDJFSNFMUJOHBOESFHJPOBMWBSJBUJPOTJOTFBMFWFMDIBOHF IFBMUINBOBHFNFOUQPMJDZBOEQSBDUJDFJO&OHMBOE1SPG BQQMJDBUJPOTJOMBXFOGPSDFNFOU 4NJUICSJOHTBXFBMUIPGFYQFSJFODFUPIJTEVBMSPMFBT /56T Incubation and MentoringQSPHSBNNFDPNCJOFT 7JDF1SFTJEFOU 3FTFBSDI BOE%FBOPGUIF-FF,POH Prof Stephan Schuster FOUSFQSFOFVSTIJQFEVDBUJPOBOENFOUPSJOHXJUIFYJTUJOH $IJBO4DIPPMPG.FEJDJOF Cluster Leader, Singapore Centre on Environmental Life JOJUJBUJWFTUPIFMQQSPTQFDUJWFFOUSFQSFOFVSTTVDDFFE Sciences Engineering World-beaters 1SPG4DIVTUFSTSFTFBSDIJTGPDVTFEPOUIFHFOFUJD EJWFSTJUZPGOBUVSBMQPQVMBUJPOT)FDPNQMFUFEIJT1I%BU .FFUTPNFPGUIFOFXFTUNFNCFSTPG/56TMFBEJOHFEHF UIF.BY1MBODL*OTUJUVUFGPS#JPDIFNJTUSZ (FSNBOZ BOE SFTFBSDIDPNNVOJUZ IBTQSFWJPVTMZIFMETFOJPSSFTFBSDIQPTJUJPOTUIFSFBT XFMMBTBU1FOOTZMWBOJB4UBUF6OJWFSTJUZ1SPG4DIVTUFST HSPVOECSFBLJOHXPSLPOTFRVFODJOHUIF%/"PGUIF FYUJODUXPPMMZNBNNPUIDBQUVSFEUIFQVCMJDJNBHJOBUJPO BOEIFXBTTFMFDUFEGPSTimeNBHB[JOFTMJTUPGi5IF 8PSMET.PTU*OþVFOUJBM1FPQMFwJO)JTDVSSFOU SFTFBSDIJOUFSFTUTJODMVEFNFUBHFOPNJDT FWPMVUJPOBSZ Prof Staffan Kjelleberg CJPMPHZBOEBODJFOU%/" Asst Prof Kimberly Kline Director, Singapore Centre on Environmental Life National Research Foundation Research Fellow, Sciences Engineering Singapore Centre on Environmental Life Sciences Engineering and School of Biological Sciences "OJOUFSOBUJPOBMMZSFOPXOFEBVUIPSJUZJOUIFýFME PGCJPýMNT 1SPG,KFMMFCFSHDPGPVOEFEUIF$FOUSF *OIFSSFTFBSDIJOWFTUJHBUJPOT "TTU1SPG,MJOFVTFT GPS.BSJOF#JP*OOPWBUJPOBUUIF6OJWFSTJUZPG/FX HFOFUJD CJPDIFNJDBMBOEDFMMCJPMPHJDBMBQQSPBDIFTUP 4PVUI8BMFT "VTUSBMJB XIFSFIFTFSWFTBT%JSFDUPS TUVEZIPTUQBUIPHFOJOUFSBDUJPOTEVSJOHJOGFDUJPOT4IF Prof Stephen Kevin Smith 5IFDFOUSFJTBHMPCBMGPDBMQPJOUGPSJOUFSEJTDJQMJOBSZ DPNQMFUFEIFS1I%BU/PSUIXFTUFSO6OJWFSTJUZ *MMJOPJT" Vice President (Research) and Dean, Lee Kong Chian SFTFBSDIJOUPCJPýMNTBOEDIFNJDBMTJHOBMMJOH)JT /BOZBOH"TTJTUBOU1SPGFTTPS TIFJTXPSLJOHUPEFWFMPQ School of Medicine QSPGFTTJPOBMFYQFSJFODFJODMVEFTQPTJUJPOTPOOBUJPOBM BOUJCBDUFSJBMBHFOUTBOEUIFSBQFVUJDQSPHSBNNFTGPS BOEJOUFSOBUJPOBMTDJFOUJýDTPDJFUJFT SFTFBSDIDPVODJMT NBKPSIVNBOQBUIPHFOT JOPSEFSUPýHIUEJTFBTFTJOUIF 1SPG4NJUIXBTUIF1SJODJQBMPGUIF'BDVMUZPG.FEJDJOF BOEHPWFSONFOUBMDPNNJUUFFT BTXFMMBTUIFBEWJTPSZ GVUVSF4IFBMTPIPQFTUPDSFBUFBWJCSBOUBOETVQQPSUJWF BOE1SP3FDUPS )FBMUI BU*NQFSJBM$PMMFHF-POEPOBOE CPBSETPGCJPUFDIOPMPHZDPNQBOJFT FEJUPSJBMCPBSETBOE FOWJSPONFOUGPSVOEFSHSBEVBUFT HSBEVBUFTUVEFOUTBOE TFSWFEBTUIFýSTU$IJFG&YFDVUJWFPG*NQFSJBM$PMMFHF TDJFOUJýDKPVSOBMT QPTUEPDUPSBMSFTFBSDIFST
NTU ANNUAL REPORT 2011 42 43 NTU ANNUAL REPORT 2011 LEADING THE WAY
5IF/56DBOEPTQJSJUVOJUFTBDIJFWFSTPO PVSDBNQVTXIPEJTUJOHVJTIUIFNTFMWFT BTTDIPMBSTBOEPVUTUBOEJOHJOEJWJEVBMT oBOEBTUIPVHIUMFBEFSTBOEHBNF DIBOHFST.BOZPGUIFNSFBDIPVUBOE HJWFCBDLUPUIFVOJWFSTJUZBOEUIFXJEFS DPNNVOJUZ
NTU ANNUAL REPORT 2011 44 45 NTU ANNUAL REPORT 2011 HONOURS
SENIOR MANAGEMENT GRADUATE AND FACULTY STUDENTS
Prof Bertil Andersson Assoc Prof Goh Wang Ling 1SFTJEFOU /56 "TTPDJBUF%FBO 0VUSFBDI&YUFSOBM3FMBUJPOT $PMMFHFPG t 8JMIFMN&YOFS.FEBM "VTUSJB &OHJOFFSJOH t 1VCMJD"ENJOJTUSBUJPO.FEBM #SPO[F Prof Freddy Boey %FQVUZ1SFTJEFOUBOE1SPWPTU Asst Prof Madhavi Srinivasan t 1VCMJD"ENJOJTUSBUJPO.FEBM 4JMWFS 4DIPPMPG.BUFSJBMT4DJFODF&OHJOFFSJOH t -0SÏBM4JOHBQPSF'PS8PNFOJO4DJFODF/BUJPOBM Prof Eddie Kuo 'FMMPXTIJQ 'PVOEJOH%FBO 8FF,JN8FF4DIPPMPG$PNNVOJDBUJPO *OGPSNBUJPO BOE'PVOEJOH*OUFSJN%FBO 4DIPPMPG Asst Prof Andy Khong )VNBOJUJFT4PDJBM4DJFODFT 4DIPPMPG&MFDUSJDBM&MFDUSPOJD&OHJOFFSJOH t $POGFSSFE&NFSJUVT1SPGFTTPSTUBUVTCZ/56 t +VOJPS$IBNCFS*OUFSOBUJPOBM5FO0VUTUBOEJOH:PVOH Law Jia Yan was accepted into the IEEE Magnetics Society 1FSTPOTPGUIF8PSME)POPVSFF Summer School at the University of New Orleans Prof Lim Chong Yah Wilhelm Exner Medal 2010 recipient Prof Bertil Andersson (second Feng Shu from right) with (from left) Dr Uwe Sleytr, President of the Wilhelm "MCFSU8JOTFNJVT$IBJS1SPGFTTPSPG&DPOPNJDT 4DIPPMPG Dr Adrian Yeo 4DIPPMPG#JPMPHJDBM4DJFODFT Exner Foundation; Ms Margarete Kriz-Zwittkovits, President of the )VNBOJUJFT4PDJBM4DJFODFT 3FTFBSDI'FMMPX 4JOHBQPSF.FNCSBOF5FDIOPMPHZ$FOUSF Austrian Association of Small and Middle-sized Enterprises; and Dr t 4QFDJBM3FDPHOJUJPO"XBSE UI"OOJWFSTBSZPGUIF t 8BUFSNBSL"XBSE t $IPTFOCZUIF4DJFOUJýD3FWJFX1BOFMPGUIF$PVODJMGPS Beatrix Karl, Austrian Federal Minister of Science & Research /BUJPOBM5SBEFT6OJPO$POHSFTT UIF-JOEBV/PCFM-BVSFBUF.FFUJOHTUPQBSUJDJQBUFJOUIF TUNFFUJOHPGUIF/PCFM-BVSFBUFT Prof Pan Tso-Chien &YFDVUJWF%JSFDUPS *OTUJUVUFPG$BUBTUSPQIF3JTL V Cholan Kopparumsolan .BOBHFNFOU 4DIPPMPG)VNBOJUJFT4PDJBM4DJFODFT t %FGFODF5FDIOPMPHZ1SJ[F *OEJWJEVBM3%"XBSE t "NFSJDBO1PMZHSBQI"TTPDJBUJPO1SFTJEFOUT"XBSE
Prof Ang Soon Law Jia Yan )FBE %JWJTJPOPG4USBUFHZ .BOBHFNFOU0SHBOJTBUJPO 4DIPPMPG.BUFSJBMT4DJFODF&OHJOFFSJOH /BOZBOH#VTJOFTT4DIPPM t "DDFQUFEUPUIF*&&&.BHOFUJDT4PDJFUZ4VNNFS t 1VCMJD"ENJOJTUSBUJPO.FEBM 4JMWFS 4DIPPM 6OJWFSTJUZPG/FX0SMFBOT -PVJTJBOB 64"
Prof Kang Jun-Koo Benjamin Li )FBE %JWJTJPOPG#BOLJOH'JOBODF /BOZBOH#VTJOFTT 8FF,JN8FF4DIPPMPG$PNNVOJDBUJPO*OGPSNBUJPO TU 4DIPPM t 5PQ1BQFS"XBSEBUUIF *OUFSOBUJPOBM t 3BUFEUIFUPQýOBODFSFTFBSDIFSJOUIF"TJB1BDJýDCZ $PNNVOJDBUJPO"TTPDJBUJPO$POGFSFODF #PTUPO UIFPaci!c-Basin Finance Journal .BTTBDIVTFUUT 64"
Prof Tan Hun Tong Dilip Kumar Prasad /BOZBOH#VTJOFTT4DIPPM 4DIPPMPG$PNQVUFS&OHJOFFSJOH t 3BUFEUIFXPSMETUPQBDDPVOUJOHSFTFBSDIFSCZ t 4FMFDUFEGPSUIF,BVGGNBO(MPCBM4DIPMBST #SJHIBN:PVOH6OJWFSTJUZ 1SPHSBNNF
Assoc Prof Geraldine Chen Nagarajan Raghavan %JSFDUPS 4UVEFOU%FWFMPQNFOUBOE0VUSFBDI /BOZBOH 4DIPPMPG&MFDUSJDBM&MFDUSPOJD&OHJOFFSJOH Prof Eddie Kuo, the second person at NTU to be named Emeritus #VTJOFTT4DIPPM t *&&&&MFDUSPO%FWJDFT4PDJFUZ1I%4UVEFOU'FMMPXTIJQ Professor t 1VCMJD"ENJOJTUSBUJPO.FEBM #SPO[F Dr Adrian Yeo, winner of the Watermark Award 2010 "XBSE
NTU ANNUAL REPORT 2011 46 47 NTU ANNUAL REPORT 2011 HONOURS
UNDERGRADUATES
Ernest Chen, Peh Chong Yi, Peng DongHong and Wong Zi Yuan $PMMFHFPG&OHJOFFSJOH t 3VOOFSTVQ 4UBQMFT(MPCBM&DP&BTZ$IBMMFOHF
Doan Tuan Anh, Khuc Anh Tuan and Pham Quang Vu 4DIPPMPG$PNQVUFS&OHJOFFSJOH t 'JOBMJTUT "TTPDJBUJPOGPS$PNQVUJOH.BDIJOFSZ *OUFSOBUJPOBM$PMMFHJBUF1SPHSBNNJOH$POUFTU
Business and Enterprise
Neo Liat Beng and Alvin Wee /BOZBOH#VTJOFTT4DIPPM t 8VOEFSNBOT;"DBEFNZ4..BSLFUFSTPGUIF:FBS XJUITQPOTPSFEUSJQTUPUXP$BOOFT-JPO*OUFSOBUJPOBM 'FTUJWBMTPG$SFBUJWJUZ
Alex Chan, Jonathan Goh, Eddy Ho and Nicholas Lee /BOZBOH#VTJOFTT4DIPPM t $IBNQJPOT #BJO$PNQBOZ$BTF$IBMMFOHF L’Oréal Brandstorm 2011 global champions Heng Xue-Li, Chye Nyit National sailor Victoria Chan clinched Singapore’s !rst medal at the World University Games Fhen and Jonathan Chan Jonathan Chan, Chye Nyit Fhen and Heng Xue-Li /BOZBOH#VTJOFTT4DIPPM t 4*'&4UVEFOUPGUIF:FBS"XBSE "OH+VO$IFOH 4*'& t 4QPSUTXPNBOPGUIF:FBS%JQOB-JN1SBTBE USBDLBOE t $IBNQJPOT -0SÏBM#SBOETUPSN*OUFSOBUJPOBM 4JOHBQPSF/BUJPOBM$PNQFUJUJPO ýFME Engineering and Innovation 'JOBMT t 4QFDJBM"DIJFWFNFOU"XBSE7JDUPSJB$IBO TBJMJOH Nanyang Venture IVFDPDBS Sports t 4QJSJU"XBSE GPSDPBDIFT *MZBT)BLJN+BNBMVEJO TJMBU 4DIPPMPG.FDIBOJDBM"FSPTQBDF&OHJOFFSJOH Kanesh Balasubramaniam, Lau Seo Wang, Tan Sing Nan 0VSTUVEFOUBUIMFUFTIJUOFXIFJHIUTJO XJOOJOHUIFJS BOE4FMWBLVNBS4SFFOJWBTBO XPNFOTGPPUCBMM t 'JSTUQSJ[F %JFTFM'VFMDBUFHPSZ BOE0GG5SBDL"XBSEGPS and Xu Wei ýSTUPWFSBMMDIBNQJPOTIJQBUUIFSingapore University 4BGFUZ 4IFMM&DPNBSBUIPO"TJB /BOZBOH#VTJOFTT4DIPPM Games/56XPOUIFNPTUOVNCFSPGDIBNQJPOTIJQ t $IBNQJPOT .D(JMM.BOBHFNFOU*OUFSOBUJPOBM$BTF UJUMFT BOEJOUPUBM TUVEFOUBUIMFUFTDPNQFUFEJOUIF Nanyang Venture II FDPDBS $PNQFUJUJPO DIBNQJPOTIJQFWFOUT 4DIPPMPG.FDIBOJDBM"FSPTQBDF&OHJOFFSJOH t 8JOOFSPGUIF4IFMM&DPDBS3BDF$IBMMFOHFBOEi#FTU Chen Xinyi, Gabriel Lee, Liu Xinyi and Yeo Shi Yuan NTU Women’s Football Team 0WFSBMM4QFFEwQSJ[FBUUIFJOBVHVSBM4JOHBQPSF( /BOZBOH#VTJOFTT4DIPPM t $IBNQJPOT 'PPUCBMM"TTPDJBUJPOPG4JOHBQPSF8PNFOT t 3VOOFSTVQ $IBSUFSFE*OTUJUVUFPG.BOBHFNFOU :PVUI-FBHVF X-5QSPUPUZQFQMBOF "DDPVOUBOUT(MPCBM#VTJOFTT$IBMMFOHF +PTIVB$IBP 4DIPPMPG.FDIBOJDBM"FSPTQBDF Colleen Goh, Lee Cyn Li, Lee Yi Shi and Dipna Lim &OHJOFFSJOH &VOJDF-JN 4DIPPMPG"SU %FTJHO.FEJB NTU Students in Free Enterprise Prasad UI .B9JBP 4DIPPMPG.BUFSJBMT4DJFODF&OHJOFFSJOH BOE t $IBNQJPOT 1SPKFDU+BSJ+FNBSJ 3PUBSZ:PVUI4PDJBM t #SPO[FNFEBMMJTUTBUUIF "4&"/6OJWFSTJUZ(BNFT :VBO4IFOHIBJ 4DIPPMPG&MFDUSJDBM&MFDUSPOJD&OHJOFFSJOH &OUSFQSFOFVSTIJQ$IBMMFOHF NTU Sportspeople of the Year (2011) t 8JOOFS /BWJHBUJPO'MJHIU%FTJHO-FWFM 5BJXBO t 4QJSJUPG4*'&"XBSE (PVSNFU(VSV 4*'&4JOHBQPSF t 4QPSUTNBOPGUIF:FBS"ESJFM$IVB BSDIFSZ XIPBMTP 6ONBOOFE"JSDSBGU%FTJHO$PNQFUJUJPO /BUJPOBM$PNQFUJUJPO QMBDFEUIBUUIFUI8PSME6OJWFSTJUZ$IBNQJPOTIJQTPVU The NTU Women’s Football Team, champions of the Football Association of Singapore Women’s Youth League 2010 PGBOJOUFSOBUJPOBMýFMEPG
NTU ANNUAL REPORT 2011 48 49 NTU ANNUAL REPORT 2011 HONOURS
NTU AND UNIVERSITY ENTITIES
Artistic, Cultural, Community and Chua Ang Hong Environmental Achievements /BOZBOH#VTJOFTT4DIPPM t )4#$/BUJPOBM:PVUI"DIJFWFNFOU"XBSE:PVUI Wendy Cheng, Han Xuemei, Flora Man and Lim Chee &OWJSPONFOUBM"XBSE Harn 8FF,JN8FF4DIPPMPG$PNNVOJDBUJPO*OGPSNBUJPO Christopher Ngoi t Epiphany#FTUPG'JMNBOE#FTUPG4IPX $SPXCBS /BOZBOH#VTJOFTT4DIPPM "XBSET t 5PQUP5PQ(MPCBM$MJNBUF4PMVUJPO"XBSE
Wang Wei Yang 8FF,JN8FF4DIPPMPG$PNNVOJDBUJPO*OGPSNBUJPO t HaloReach#FTUPG"EWFSUJTJOH $SPXCBS"XBSET
Subi Le 4DIPPMPG"SU %FTJHO.FEJB t Ethereal Visage#FTUPG1IPUPHSBQIZ $SPXCBS"XBSET 2010
David Lee 4DIPPMPG"SU %FTJHO.FEJB t Living It"DDFQUFEBUUIF1VTBO*OUFSOBUJPOBM'JMN 'FTUJWBM
Harry Zhuang and Henry Zhuang 4DIPPMPG"SU %FTJHO.FEJB Chua Ang Hong, HSBC/National Youth Achievement Award Youth Environmental Award winner t &ODPVSBHFNFOU"XBSEBU%JHJ$PO
NTU DanceSport Academy t 0OFHPME POFTJMWFSBOEGPVSCSPO[FNFEBMT .BMBZTJB The School of Art, Design & Media, winner of the Green Mark Platinum Award for adopting best practices in environmental sustainability /BUJPOBM%BODF4QPSU$IBNQJPOTIJQT
Chan Wai Ping, Sun Yiru, Yu Jianqi and Zhang Zhaohong NTU Confucius Institute, NTU /56$IJOFTF%FCBUJOH4RVBE t -FBEJOH)31SBDUJDFT"XBSE 4USBUFHJD)3 BOE-FBEJOH t $POGVDJVT*OTUJUVUFPGUIF:FBS BUUIFUI t 3VOOFSTVQ UI*OUFSWBSTJUZ$IJOFTF%FCBUF5PVSOBNFOU )3-FBEFS .ST"OHFMB-JN $IJFG)VNBO3FTPVSDF $POGVDJVT*OTUJUVUF$POGFSFODF "TJB1BDJýD0QFO 0GýDFS BUUIF4JOHBQPSF)3"XBSET Lien Aid BOPOHPWFSONFOUBMPSHBOJTBUJPOGPVOEFECZ/56 Jayesh Kannan, Anindita Pal and Arun Shankar School of Art, Design & Media BOEUIF-JFO'PVOEBUJPO /56&OHMJTI%FCBUJOH4RVBE t (SFFO.BSL1MBUJOVN"XBSEGSPN4JOHBQPSFT#VJMEJOH t (MPCBM$IBSJUZ"XBSEGPSOPOHPWFSONFOUBM t $IBNQJPOT 4JOHBQPSF$PVODJMPG8PNFOT $POTUSVDUJPO"VUIPSJUZGPSJOOPWBUJPOTJOTVTUBJOBCMF PSHBOJTBUJPOTGSPN$IJOB4PPOH$IJOH-JOH'PVOEBUJPO 0SHBOJTBUJPOT4JOHBQPSF.BOBHFNFOU6OJWFSTJUZ CVJMEJOHEFTJHO BOE$IJOBT.JOJTUSZPG$JWJM"GGBJST *OUFSWBSTJUZ%FCBUJOH$IBNQJPOTIJQT
Red Cross Youth NTU Chapter Christopher Ngoi, one of seven global winners of the inaugural t #MPPENPCJMF0SHBOJTFST(PME"XBSE ToptoTop Global Climate Solution Award
NTU ANNUAL REPORT 2011 50 51 NTU ANNUAL REPORT 2011 MAKING OUR MARK
*UXBTBQJWPUBMZFBSPGDPOTPMJEBUJPO BOEFYQBOTJPOBZFBSPGQSPHSFTTBOE BDIJFWFNFOU8FXJMMDPOUJOVFUPTUSFUDI IPSJ[POTBOETIBQFUIFGVUVSFBTBHSFBU HMPCBMVOJWFSTJUZGPVOEFEPOTDJFODFBOE UFDIOPMPHZ : Cheah Wei Chun : Cheah Wei Art direction : Kevin Yang : Kevin Yang
NTU ANNUAL REPORT 2011 52 53 NTU ANNUAL REPORT 2011 Photo HIGHLIGHTS
Global Standing GPS/56BOE4JOHBQPSFXJUI PGUIFHSBEVBUJOHDPIPSU t NTU jumps 16 placesUPUIQPTJUJPOJOUIF248PSME DPOUSJCVUJOHUP/56TiGave 6OJWFSTJUZ3BOLJOHTUPCFUIFGBTUFTUSJTJOH"TJBO Graduation Giving DBNQBJHOoB VOJWFSTJUZJOUIFXPSMETUPQVOJWFSTJUJFTCFUXFFO DPNNFOEBCMFBDIJFWFNFOUFWFO BOE CZJOUFSOBUJPOBMTUBOEBSET5IF t 5IFNanyang Business SchoolJTSBOLFEBNPOHUIF UPUBM$MBTT(JGUPG4 XPSMETUPQCVTJOFTTTDIPPMTCZThe Financial Times. JTUIFCJHHFTUTVNSBJTFECZ HSBEVBUJOHTUVEFOUT t 5IFNanyang MBAJTDPOTJTUFOUMZSBOLFEJOUIFUPQ CZThe Economist t 5IFClass of 1985DFMFCSBUFT JUTUISFVOJPOXJUIBGVOESBJTJOH t /56JTUIFýSTU4JOHBQPSFBOVOJWFSTJUZUPCFSBUFE5 FGGPSUUIBUOFUT4NJMMJPO StarsCZUIF244UBSTSBOLJOHTZTUFN Passing the baton: Prof Bertil Andersson, the third President of NTU, with his predecessor, Prof Su Guaning, President Emeritus of JODMVEJOHHPWFSONFOUNBUDIJOH t 5IFInternational Academic Advisory PanelOPUFTUIF NTU GPSTUVEFOUCVSTBSJFT TDIPMBSTIJQT iSFNBSLBCMFQSPHSFTTw/56IBTNBEFJOCFDPNJOHB BOECPPLQSJ[FTGPSFOHJOFFSJOH XPSMEDMBTTSFTFBSDIJOUFOTJWFVOJWFSTJUZ t "UUIF$POWPDBUJPO /56QSPEVDFTBSFDPSE VOEFSHSBEVBUFT OVNCFSPG9,066 graduates Making local philanthropic history: Dr Lee Seng Tee (second from right) of the Lee t "MVNOVTTan Chade-Meng Leadership Foundation, which donated S$150 million to NTU for the Lee Kong Chian School of FTUBCMJTIFTUIFFOEPXFE5BO5FP Medicine t Prof Bertil Andersson UIFQSFWJPVT/561SPWPTU JT New Centres and Institutes 4DIPMBSTIJQXJUIBEPOBUJPOPG JOBVHVSBUFEBTUIF third President of NTU TVDDFFEJOH 4 5XPTDIPMBSTIJQT t NTU-SGX Centre for Financial Education XJUIUIF t Institute on Asian Consumer Insight 1SPG4V(VBOJOH)FCFDPNFTUIFOFX$IBJSNBOPGUIF 4JOHBQPSF&YDIBOHF FBDIXPSUI4 XJMMCF (MPCBM"MMJBODFPG5FDIOPMPHJDBM6OJWFSTJUJFT t Centre for Nanostructured Photosystems NBEFBWBJMBCMFBOOVBMMZUP t TUM-CREATE Centre for Electromobility XJUI t Prof Freddy Boey UIFQSFWJPVT$IBJSPGUIF4DIPPM TUVEFOUT POFGSPNUIF4DIPPMPG 5FDIOJDBM6OJWFSTJUZPG.VOJDI Innovations PG.BUFSJBMT4DJFODF&OHJOFFSJOH UBLFTPWFSGSPN $PNQVUFS&OHJOFFSJOHBOEUIF 1SPG"OEFSTTPOBT1SPWPTU)FJTBMTPBQQPJOUFE/56T t Berkeley Education Alliance for Research in t 4JOHBQPSFTýSTUMPDBMMZCVJMUTBUFMMJUF X-SAT JTTVDDFTTGVMMZMBVODIFEJOUP PUIFSGSPNBOZTDIPPMJO/56 %FQVUZ1SFTJEFOU Singapore XJUI6OJWFSTJUZPG$BMJGPSOJB #FSLFMFZ TQBDF/56TFOHJOFFSJOHTUVEFOUTCFHJOCVJMEJOHOBOPBOEQJDPTBUFMMJUFT t .PSFGBDVMUZBOETUBGGHJWFCBDL t 5IF senior leadership team is restructured UPTVQQPSU t CREATE collaborationXJUI#FO(VSJPO6OJWFSTJUZPG t /56BOEUIF"DUJPO$PNNVOJUZGPS&OUSFQSFOFVSTIJQKPJOUMZCFDPNFUIF EFNPOTUSBUJOHUIFJSEFEJDBUJPOUP OFXTUSBUFHJDEJSFDUJPOTBOEQSJPSJUJFT UIF/FHFWBOE)FCSFX6OJWFSTJUZPG+FSVTBMFN UIJSEGPVOEJOHNFNCFSPGUIFWorld Entrepreneurship Forum BHMPCBM /565IFFaculty and Staff GivingDBNQBJHOSFUVSOTBSFDPSE t VIRTUS, IC Design Centre of Excellence JOOPWBUJPOUIJOLUBOL Education QBSUJDJQBUJPOSBUFPG VQGSPN t BeingThere Centre XJUI&5);VSJDIBOE6OJWFSTJUZPG t "O“innovators’ nest” JTEFWFMPQFEBUUIF*OOPWBUJPO$FOUSFBTBDBNQVT JO t 5IF Lee Kong Chian School of MedicineJT /PSUI$BSPMJOBBU$IBQFM)JMM IPUTQPUGPSBDUJWJUJFTSFMBUFEUPJOOPWBUJPOBOEFOUSFQSFOFVSTIJQ t 5IF FTUBCMJTIFE Business and Community t Solar Fuels Laboratory t 0SHBOJTFECZUIF/BOZBOH5FDIOPQSFOFVSTIJQ$FOUSF UIFIdeas.inc. Partners QSPHSBNNFJTBQMBUGPSN t /56VOWFJMTJUTýWFZFBSTUSBUFHJDCMVFQSJOU NTU 2015 Business ChallengeVODPWFSTJOOPWBUJWFJEFBT QSPEVDUTBOETPMVUJPOTCZ GPSDPNQBOJFTBOEDPNNVOJUZ t Centre of Excellence in Solar Thermal Energy XJUI XJUIBGPDVTPOýWFQFBLTPGFYDFMMFODF TUVEFOUFOUSFQSFOFVST PSHBOJTBUJPOTUPQSPWJEFýOBODJBM 40-*%"4*" t 5IFOFXCampus Master PlanTIPXDBTFTIPX/56 BTTJTUBODFUPOFFEZ/56 t Insurance Risk & Finance Research Centre XJUI Gifts to the University XJMMCFUSBOTGPSNFEJOUPBTVTUBJOBCMFBOEWJCSBOU TUVEFOUT*OJUTJOBVHVSBMZFBS UIF 4$03 NJOJDJUZ t /56TUBOETTIPVMEFSUPTIPVMEFSXJUITPNFPGUIFCFTUVOJWFSTJUJFTJO QSPHSBNNFHBSOFSFEUIFTVQQPSU t MicroVision’sýSTUHMPCBMSFTFBSDIBOEEFWFMPQNFOU UIFXPSMEXJUIMPOHUSBEJUJPOTPGHJWJOH"4NJMMJPOHJGUGSPNUIF-FF PGEPOPST XIPHBWFNPSF t A new undergraduate experiencePGGFSJOHNPSF DFOUSF 'PVOEBUJPOUPOBNFUIFOFX-FF,POH$IJBO4DIPPMPG.FEJDJOFDSFBUFT UIBO4NJMMJPOGSPN+BOVBSZUP CSFBEUI DIPJDFBOEþFYJCJMJUZJTBOOPVODFE MPDBMQIJMBOUISPQJDIJTUPSZ5IF$MBTTPGBMTPTFUTBOFXNJMFTUPOF %FDFNCFS t Fraunhofer IDM@NTU XJUI'SBVOIPGFS(FTFMMTDIBGU
NTU ANNUAL REPORT 2011 54 55 NTU ANNUAL REPORT 2011 HIGHLIGHTS
t "TBUSJCVUFUP.ST8FF,JN8FF WBSJPVTFEVDBUJPOBOESFTFBSDI 4UVEJFTBUUIF43BKBSBUOBN BDPGGFFUBCMFDPPLCPPL Cooking QSPHSBNNFT5IFTFJODMVEF 4DIPPMPG*OUFSOBUJPOBM4UVEJFT for the President XBTQVCMJTIFE UIF5FNBTFL'PVOEBUJPO t "4NJMMJPO 4NJMMJPO /56UPPLUIFMFBEJOGVOESBJTJOH /*&&EVDBUJPOBM-FBEFSTIJQ
BGUFSNBUDIJOH FOEPXFEHJGU Chun : Cheah Wei BOESBJTFE4NJMMJPOGSPN 1SPHSBNNF 7JFUOBN 5SBJOJOH GSPNMediaTek FTUBCMJTIJOH UIFQSPDFFETPGUIFTBMFPGUIF BOE$BQBDJUZ#VJMEJOH1SPHSBNNF UIF.FEJB5FL1SPGFTTPSTIJQJO CPPLUPCFOFýUýWFPG.ST8FFT PO4FJTNJD4USFOHUIFOJOH UIF *OUFHSBUFE$JSDVJU%FTJHO Art direction GBWPVSJUFDIBSJUJFTUIBUJODMVEFUIF 1IJMJQQJOFT i5SBJOJOHPG5SBJOFSTw Wee Kim Wee Legacy Fund at 1SPHSBNNFJO(PWFSOBODFBOE t 4NJMMJPOGSPNWilmar
NTU 1VCMJD"ENJOJTUSBUJPO $IJOB International LtdUPFTUBCMJTI : Kevin Yang 8JMNBS*OUFSOBUJPOBM$IJOB UIF"TJBO+PVSOBMJTN'FMMPXTIJQ Photo Gifts of signi!cant impact received in 1SPHSBNNFBOEUIF-&B3/ -FBEFSTIJQ4DIPMBSTIJQTGPS/56T FY2010/2011 (April 2010 to March -FBEFSTIJQ&OSJDINFOUBOE .BZPST$MBTT 2011): 3FHJPOBM/FUXPSLJOH 1SPHSBNNF t 4NJMMJPOGSPNKuok Khoon t 4NJMMJPOGSPNUIF Lee t 4NJMMJPOGSPNUIFBakrie HongUPDSFBUF,,)0QQPSUVOJUZ FoundationUPTVQQPSUUIF-FF Centre FoundationUPFTUBCMJTI 4DIPMBSTIJQTGPSTUVEFOUTPGUIF ,POH$IJBO4DIPPMPG.FEJDJOFJO UIF#BLSJF1SPGFTTPSTIJQJO /BOZBOH#VTJOFTT4DIPPMUP UIFBSFBTPGCVSTBSJFT FEVDBUJPO 4PVUIFBTU"TJBO1PMJDZ"O WFOUVSFJOUPFNFSHJOHFDPOPNJFT BOESFTFBSDI BEEJUJPOBM4 GVOET GPSJOUFSOTIJQ t "UPUBMPG4NJMMJPOGSPN #BLSJF(SBEVBUF4DIPMBSTIJQT t 4NJMMJPOGSPNPrima Ltd UIFTemasek FoundationGPS GPSTUVEFOUTUBLJOH*OEPOFTJBO SingaporeGPSUIF$IFOH5TBOH
The Student Activities Centre is a hub for students with its central NTU, the world’s !rst Youth Olympic Village, hosted over 5,000 location and long opening hours from 7am to 2am athletes and team of!cials taking part in the inaugural Youth Olympic Games
.BO$IBJS1SPGFTTPSTIJQJO&OFSHZ5IF1SPGFTTPSTIJQ Campus Life IBTJUTPSJHJOTJOXIFO1SJNBNBEFB4NJMMJPO t /56XFMDPNFT JOUFSOBUJPOBMBUIMFUFTBOEPGýDJBMT HJGUUP/56UPTFUVQB7JTJUJOH1SPGFTTPSTIJQ BTUIFYouth Olympic VillageGPSUIFJOBVHVSBM:PVUI 0MZNQJD(BNFT IFMEGSPNUP"VHVTU Alumni t New social spacesTVDIBTBPOFTUPQ4UVEFOU t /56DPOOFDUTXJUIJUT TUSPOHBMVNOJUISPVHI "DUJWJUJFT$FOUSFBOE(MPCBM-PVOHFPQFO 65 local and global alumni chapters5XFMWFOFX BMVNOJBTTPDJBUJPOTBSFFTUBCMJTIFEoUISFFJO4JOHBQPSF t 5IFTUVEFOUSVONanyang Arts Festival IFMEPWFS BOEOJOFBCSPBE FJHIUJO$IJOBBOEPOFJOUIF64" UISFFNPOUIT CSJOHTEBODF NVTJDBOEUIFBUSFUPUIF DBNQVTQPQVMBUJPOBOECFZPOE t .PSFUIBO40 eventsBSFPSHBOJTFE BNPOHUIFN XFMDPNFQBSUJFT HBUIFSJOHT SFVOJPOT EJBMPHVF t 0SHBOJTFECZUIF/56(SBEVBUF4UVEFOUT$MVC UIF TFTTJPOT EJOOFSTBOEGPSVNT0OMJOFBOETPDJBMNFEJB TEDx conferenceTFFTJOUFSOBUJPOBMMFBEJOHMJHIUT DIBOOFMTBMTPIFMQBMVNOJLFFQJOUPVDI DPNJOHUPHFUIFSUPTIBSFJEFBTXPSUITQSFBEJOH
80% of the Class of 2011 gave back to NTU, setting a new record in graduation giving
NTU ANNUAL REPORT 2011 56 57 NTU ANNUAL REPORT 2011 HIGHLIGHTS
Eminent Visitors Benefactors $IBOH-POH+POH "QSJMUP.BSDI %SBOE.ST"MFY5BO1BOH,FF "NPOHUIFXPSMESFOPXOFETDJFOUJTUTBOEUPQJOUFSOBUJPOBM %4./VUSJUJPOBM1SPEVDUT"TJB1BDJýD1UF-UE S$100 million and Above EJHOJUBSJFTXIPWJTJUFE/56XFSF %71BSUOFST1UF-UE -FF'PVOEBUJPO )C(MBTTBOE"MVNJOJVN1UF-UE Heads of State *"*"TJB1UF-UE S$1 million and Above *$"&84PVUI&BTU"TJB-UE t Dr Heinz Fischer #BLSJF$FOUSF'PVOEBUJPO *OEFSKJU4JOHI 1SFTJEFOUPG"VTUSJB ,VPL,IPPO)POH *OTUJUVUFPG.BUFSJBMT &BTU"TJB .FEJB5FL'PVOEBUJPO t Mr Por!rio Lobo Sosa +VSPOH$POTVMUBOUT1UF-UE 4$033FJOTVSBODF"TJB1BDJýD1UF-UE 1SFTJEFOUPG)POEVSBT ,BI)POH1UF-UE 5FNBTFL'PVOEBUJPO$-(-UE ,FQQFM'FMT-UE 8JMNBS*OUFSOBUJPOBM-UE t Dr Navinchandra Ramgoolam -#8$POTVMUBOUT--1 1SJNF.JOJTUFSPG.BVSJUJVT -JN$IPOH:BI S$250,000 and Above Dr Heinz Fischer, President of Austria (centre) -JN&OH1JOH "PO#FOýFME"TJB1UF-UE Distinguished Scientists -JN,BZ)VB $JUJ'PVOEBUJPO -JN,BZ,PL t Prof Jerome Friedman *OUFSOBUJPOBM"JS5SBOTQPSU"TTPDJBUJPO -JN,BZ4FOH /PCFM-BVSFBUFJO1IZTJDT /*&*OUFSOBUJPOBM1UF-UE -JN,BZ5JPOH 3FHB$BQJUBM.BOBHFNFOU-UE t Prof Michael Grätzel -JN4PP1FOH 5BO5FP$IBSJUBCMF'PVOEBUJPO .JMMFOOJVN5FDIOPMPHZ1SJ[F-BVSFBUF -JOEB0FJ4XBO$IV 5JO,B1JOH'PVOEBUJPO -FF,POH$IJBO%JTUJOHVJTIFE1SPGFTTPS -VCSJUSBEF5SBEJOH1UF-UE 8BO#PP4PX'BNJMZ .BUFSJBMT3FTFBSDI4PDJFUZPG4JOHBQPSF t Prof Kerson Huang .JDSPO5FDIOPMPHZ'PVOEBUJPO *OD S$100,000 and Above 1SPGFTTPSPG1IZTJDT&NFSJUVT .BTTBDIVTFUUT*OTUJUVUF .PMFY4JOHBQPSF1UF-UE #%$SBOF5FDI1UF-UE PG5FDIOPMPHZ /BUJPOBM*OTUSVNFOUT4JOHBQPSF1UF-UE $"%*5$POTVMUBOUT "TJB 1UF-UE /BOZBOH1SPGFTTPS 0$#$ $IBSMFT,VP 1SPGFTTJPOBM&OHJOFFST#PBSE4JOHBQPSF t Prof Rudolph Marcus )J1*OUFSOBUJPOBM-UE 1SVEFOUJBM"TTVSBODF$PNQBOZ4JOHBQPSF1UF-UE /PCFM-BVSFBUFJO$IFNJTUSZ )P/HJBQ,VN 3JTL.BOBHFNFOU4PMVUJPOT *OD +JBOHTV)VBJMPOH.BUFSJBMT$PNQBOZ-UE -FF,POH$IJBO%JTUJOHVJTIFE1SPGFTTPS Prof Kerson Huang from the Massachusetts Institute of Technology 4JOHBQPSF$IJOFTF$IBNCFSPG$PNNFSDF'PVOEBUJPO ,IPP)PDL5JO 4JOHBQPSF5FDIOPMPHJFT&MFDUSPOJDT-UE t Prof Robert Richardson -JBO)P-FF$POTUSVDUJPO1UF-UE 4POOZ#FOTJMZ /PCFM-BVSFBUFJO1IZTJDT -JN$IFOH&OH 4QSJOH4JOHBQPSF .PUPSPMB'PVOEBUJPO t Prof Vladimir Voevodsky 5BO+PP,FF4DIPMBSTIJQ'VOE 0OH5JPOH5BU 5SVTUFFPGUIF&TUBUFPG,PI$IPPO+PP 'JFMET.FEBMMJTU 5BO8PJ!5BO4JFX)XB 4JOHBQPSF5FDIOPMPHJFT&OHJOFFSJOH-UE 5BOH4FF$IJN t Prof John Walker 4JOHBQPSF5PUBMJTBUPS#PBSE 5IZF)POH.BOBHFNFOU4FSWJDFT1UF-UE /PCFM-BVSFBUFJO$IFNJTUSZ 4VHJPOP84VHJBMBN 7FSUFY7FOUVSF.BOBHFNFOU1UF-UE -FF,POH$IJBO%JTUJOHVJTIFE1SPGFTTPS 5BO,XBOH)XFF 5IF'PSE'PVOEBUJPO 8POH)JOH-POH5FDIOPMPHJFT1UF-UE 5IF6OJWFSTJUZPG/PSUI$BSPMJOBBU$IBQFM)JMM 8PSME'VUVSF'PVOEBUJPO-UE 'PVSBOPOZNPVTEPOPST S$25,000 and Above "ODPSB'PVOEBUJPO "TTPDJBUJPOPG1SPDFTT*OEVTUSZ Prof Rudolph Marcus, Arthur Amos Noyes Professor of Chemistry at $BQJUB-BOE-UE the California Institute of Technology
NTU ANNUAL REPORT 2011 58 59 NTU ANNUAL REPORT 2011 CORPORATE FINANCIAL GOVERNANCE
Introduction &EVDBUJPO BOEJTDIBJSFECZ.S,PI#PPO)XFF0VS#PBSE PG5SVTUFFTJODMVEFTFNJOFOUCVTJOFTTMFBEFST BDBEFNJDT REVIEW *O"QSJMVOEFSUIF/BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ BMVNOJ FOUSFQSFOFVSTBOEQSPGFTTJPOBMTGSPNUIFQVCMJD $PSQPSBUJTBUJPO "DU $BQ" /56XBTDPSQPSBUJTFE TFSWJDFBOEQSJWBUFTFDUPST&BDINFNCFSJTBQQPJOUFEPO GSPNBTUBUVUPSZCPBSEUPBOPUGPSQSPýUDPNQBOZMJNJUFE UIFTUSFOHUIPGIJTIFSDBMJCSF FYQFSJFODF TUBUVSFBOEBCJMJUZ CZHVBSBOUFF 3FH/P3 GPSNFEVOEFSUIF UPDPOUSJCVUFUP/56 BOECSJOHTXJUIIJNIFSJOEFQFOEFOU $PNQBOJFT"DU $BQ PG4JOHBQPSF KVEHNFOUPOJTTVFTPGTUSBUFHZ QFSGPSNBODF SFTPVSDF 5IJTNBSLTBOFXQIBTFJOJUTEFWFMPQNFOU8IJMTU BMMPDBUJPOBOESJTLBOEDPNQMJBODF BTXFMMBTWBMVBCMF DPSQPSBUJTBUJPOHJWFT/56HSFBUFSBENJOJTUSBUJWFBOE SFMBUJPOTIJQTBOEOFUXPSLTXIJDIBSFFTTFOUJBMGPSUIF ý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ýOBODJBMTUBUFNFOUTPG/56 BNPOH HPWFSOBODF QSPGFTTJPOBMJTN JOUFHSJUZBOEDPNNJUNFOUBU PUIFSSFTQPOTJCJMJUJFT BMMMFWFMT VOEFSQJOOFECZTUSPOHJOUFSOBMDPOUSPMTBOESJTL NBOBHFNFOUTZTUFNT 5IF/56#PBSEPG5SVTUFFTIBTJOQMBDFBGSBNFXPSLXJUI TZTUFNTBOEQSPDFTTFTGPSBOFGGFDUJWF#PBSECBTFEPOUIF Governance Evaluation Checklist GPMMPXJOHHPWFSOBODFQSJODJQMFT
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NTU ANNUAL REPORT 2011 62 63 NTU ANNUAL REPORT 2011 REPORT OF TRUSTEES
5IF #PBSE PG 5SVTUFFT QSFTFOU UIFJS SFQPSU UP UIF NFNCFST UPHFUIFS XJUI UIF BVEJUFE ýOBODJBM TUBUFNFOUT PG /BOZBOH Auditors 5FDIOPMPHJDBM6OJWFSTJUZ UIF6OJWFSTJUZ$PNQBOZ GPSUIFýOBODJBMZFBSFOEFE.BSDI 5IFSFUJSJOHBVEJUPST ,1.(--1 XJMMOPUCFTFFLJOHSFBQQPJOUNFOU
Trustees 5IF5SVTUFFTJOPGýDFBUUIFEBUFPGUIJTSFQPSUBSFBTGPMMPXT 0OCFIBMGPGUIF#PBSEPG5SVTUFFT .S,PI#PPO)XFF $IBJSNBO .S"MXJ#JO"CEVM)Bý[ .S$IJB#BO4FOH .T+FOOJF$IVB Mr Koh Boon Hwee .S(PI(FPL-JOH Chairman of the Board of Trustees .S,XFL-FOH+PP Trustee .ST-FF4VFU'FSO .ST5BO$IJOH:FF .T-JFO4JBPV4[F .S-JN$IVBO1PI 1SPG)BSFTI4IBI .S*OEFSKJU4JOHI Prof Bertil Andersson .S&SOFTU8POH President of Nanyang Technological University .S&ENVOE$IFOH Trustee .S-JN$IFF0OO 1SPG"MFYBOEFS+#;FIOEFS +VMZ .S8POH:FX.FOH %S4V(VBOJOH 3FTJHOFEPO+VOF 4JS,FJUI0/JPOT "QQPJOUFEPO.BSDI 1SPG#FSUJM"OEFSTTPO "QQPJOUFEPO+VMZ
Arrangements to Enable Trustees to Acquire Shares and Debentures /FJUIFSBUUIFFOEPGOPSBUBOZUJNFEVSJOHUIFýOBODJBMZFBSXBTUIF6OJWFSTJUZ$PNQBOZBQBSUZUPBOZBSSBOHFNFOUXIPTF PCKFDUXBTUPFOBCMFUIF5SVTUFFTPGUIF6OJWFSTJUZ$PNQBOZUPBDRVJSFCFOFýUTCZNFBOTPGUIFBDRVJTJUJPOPGTIBSFTJO PS EFCFOUVSFTPG UIF6OJWFSTJUZ$PNQBOZPSBOZPUIFSCPEZDPSQPSBUF
Trustees’ Interests "TUIF6OJWFSTJUZ$PNQBOZJTMJNJUFECZHVBSBOUFF UIFSFBSFOPNBUUFSTUPCFEJTDMPTFEVOEFS4FDUJPO G BOE H 4FDUJPO " H BOE I 4FDUJPO BOE4FDUJPO PGUIF4JOHBQPSF$PNQBOJFT"DU $IBQUFS
Trustee Contractual Bene!ts 4JODFUIFFOEPGUIFQSFWJPVTýOBODJBMZFBS OP5SVTUFFIBTSFDFJWFEPSCFDPNFFOUJUMFEUPSFDFJWFBCFOFýUCZSFBTPOPGB DPOUSBDUNBEFCZUIF6OJWFSTJUZ$PNQBOZPSBSFMBUFEDPSQPSBUJPOXJUIUIF5SVTUFFPSXJUIBýSNPGXIJDIIFJTBNFNCFSPS XJUIBDPNQBOZJOXIJDIIFIBTBTVCTUBOUJBMýOBODJBMJOUFSFTU FYDFQUBTEJTDMPTFEJO/PUFUPUIFýOBODJBMTUBUFNFOUT
NTU ANNUAL REPORT 2011 64 65 NTU ANNUAL REPORT 2011 STATEMENT BY TRUSTEES INDEPENDENT AUDITORS’ REPORT
Members of the University Company Nanyang Technological University
*OPVSPQJOJPO Report on the !nancial statements B UIFýOBODJBMTUBUFNFOUTTFUPVUPOQBHFTUPBSFESBXOVQTPBTUPHJWFBUSVFBOEGBJSWJFXPGUIFTUBUFPGBGGBJST 8FIBWFBVEJUFEUIFBDDPNQBOZJOHýOBODJBMTUBUFNFOUTPG/BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ UIF6OJWFSTJUZ$PNQBOZ BOEJUT PGUIF(SPVQBOEUIF6OJWFSTJUZ$PNQBOZBTBU.BSDI BOEUIFSFTVMUT DIBOHFTJOGVOETBOESFTFSWFTBOEDBTI TVCTJEJBSJFT UIF(SPVQ XIJDIDPNQSJTFUIFCBMBODFTIFFUTPGUIF(SPVQBOEUIF6OJWFSTJUZ$PNQBOZBTBU.BSDI þPXTPGUIF(SPVQBOEPGUIFDIBOHFTJOGVOETBOESFTFSWFTPGUIF6OJWFSTJUZ$PNQBOZGPSUIFZFBSUIFOFOEFEPOUIBU BOEUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNF TUBUFNFOUPGDIBOHFTJOGVOETBOESFTFSWFTBOETUBUFNFOUPGDBTIþPXTPGUIF EBUFJOBDDPSEBODFXJUIUIFQSPWJTJPOTPGUIF4JOHBQPSF$PNQBOJFT"DU $IBQUFSBOE4JOHBQPSF'JOBODJBM3FQPSUJOH (SPVQBOEUIFTUBUFNFOUPGDIBOHFTJOGVOETBOESFTFSWFTPGUIF6OJWFSTJUZ$PNQBOZGPSUIFZFBSUIFOFOEFEBOEBTVNNBSZ 4UBOEBSETBOE PGTJHOJýDBOUBDDPVOUJOHQPMJDJFTBOEPUIFSFYQMBOBUPSZOPUFT BTTFUPVUPOQBHFTUP
C BUUIFEBUFPGUIJTTUBUFNFOU UIFSFBSFSFBTPOBCMFHSPVOETUPCFMJFWFUIBUUIF6OJWFSTJUZ$PNQBOZXJMMCFBCMFUPQBZJUT Management’s responsibility for the !nancial statements EFCUTBTBOEXIFOUIFZGBMMEVF .BOBHFNFOUJTSFTQPOTJCMFGPSUIFQSFQBSBUJPOBOEGBJSQSFTFOUBUJPOPGUIFTFýOBODJBMTUBUFNFOUTJOBDDPSEBODFXJUIUIF 5IF#PBSEPG5SVTUFFTIBT POUIFEBUFPGUIJTTUBUFNFOU BVUIPSJTFEUIFTFýOBODJBMTUBUFNFOUTGPSJTTVF QSPWJTJPOT PG UIF 4JOHBQPSF $PNQBOJFT "DU $IBQUFS UIF "DU BOE 4JOHBQPSF 'JOBODJBM 3FQPSUJOH 4UBOEBSET BOE GPS EFWJTJOHBOENBJOUBJOJOHBTZTUFNPGJOUFSOBMBDDPVOUJOHDPOUSPMTTVGýDJFOUUPQSPWJEFBSFBTPOBCMFBTTVSBODFUIBUBTTFUT BSFTBGFHVBSEFEBHBJOTUMPTTGSPNVOBVUIPSJTFEVTFPSEJTQPTJUJPOBOEUSBOTBDUJPOTBSFQSPQFSMZBVUIPSJTFEBOEUIBUUIFZBSF 0OCFIBMGPGUIF#PBSEPG5SVTUFFT SFDPSEFEBTOFDFTTBSZUPQFSNJUUIFQSFQBSBUJPOPGUSVFBOEGBJSQSPýUBOEMPTTBDDPVOUTBOECBMBODFTIFFUTBOEUPNBJOUBJO BDDPVOUBCJMJUZPGBTTFUT
Auditors’ responsibility 0VS SFTQPOTJCJMJUZ JT UP FYQSFTT BO PQJOJPO PO UIFTF ýOBODJBM TUBUFNFOUT CBTFE PO PVS BVEJU 8F DPOEVDUFE PVS BVEJU JO BDDPSEBODFXJUI4JOHBQPSF4UBOEBSETPO"VEJUJOH5IPTF4UBOEBSETSFRVJSFUIBUXFDPNQMZXJUIFUIJDBMSFRVJSFNFOUTBOEQMBO Mr Koh Boon Hwee BOEQFSGPSNUIFBVEJUUPPCUBJOSFBTPOBCMFBTTVSBODFXIFUIFSUIFýOBODJBMTUBUFNFOUTBSFGSFFGSPNNBUFSJBMNJTTUBUFNFOU Chairman of the Board of Trustees Trustee "OBVEJUJOWPMWFTQFSGPSNJOHQSPDFEVSFTUPPCUBJOBVEJUFWJEFODFBCPVUUIFBNPVOUTBOEEJTDMPTVSFTJOUIFýOBODJBMTUBUFNFOUT 5IFQSPDFEVSFTTFMFDUFEEFQFOEPOUIFBVEJUPSTKVEHFNFOUT JODMVEJOHUIFBTTFTTNFOUPGUIFSJTLTPGNBUFSJBMNJTTUBUFNFOU PGUIFýOBODJBMTUBUFNFOUT XIFUIFSEVFUPGSBVEPSFSSPS*ONBLJOHUIPTFSJTLBTTFTTNFOUT UIFBVEJUPSDPOTJEFSTJOUFSOBM DPOUSPMSFMFWBOUUPUIFFOUJUZTQSFQBSBUJPOPGUIFýOBODJBMTUBUFNFOUTUIBUHJWFBUSVFBOEGBJSWJFXJOPSEFSUPEFTJHOBVEJU QSPDFEVSFTUIBUBSFBQQSPQSJBUFJOUIFDJSDVNTUBODFT CVUOPUGPSUIFQVSQPTFPGFYQSFTTJOHBOPQJOJPOPOUIFFGGFDUJWFOFTT PG UIF FOUJUZTJOUFSOBM DPOUSPM "O BVEJU BMTP JODMVEFT FWBMVBUJOH UIF BQQSPQSJBUFOFTT PG BDDPVOUJOH QPMJDJFT VTFE BOE UIF Prof Bertil Andersson SFBTPOBCMFOFTTPGBDDPVOUJOHFTUJNBUFTNBEFCZNBOBHFNFOU BTXFMMBTFWBMVBUJOHUIFPWFSBMMQSFTFOUBUJPOPGUIFýOBODJBM President of Nanyang Technological University TUBUFNFOUT Trustee 8FCFMJFWFUIBUUIFBVEJUFWJEFODFXFIBWFPCUBJOFEJTTVGýDJFOUBOEBQQSPQSJBUFUPQSPWJEFBCBTJTGPSPVSBVEJUPQJOJPO +VMZ
NTU ANNUAL REPORT 2011 66 67 NTU ANNUAL REPORT 2011 BALANCE SHEETS "TBU.BSDI
Opinion Group University Company *OPVSPQJOJPO UIFDPOTPMJEBUFEýOBODJBMTUBUFNFOUTPGUIF(SPVQBOEUIFCBMBODFTIFFUBOETUBUFNFOUPGDIBOHFTJOGVOET 2011 2010 2011 2010 Note $’000 $’000 $’000 $’000 BOESFTFSWFTPGUIF6OJWFSTJUZ$PNQBOZBSFQSPQFSMZESBXOVQJOBDDPSEBODFXJUIUIFQSPWJTJPOTPGUIF"DUBOE4JOHBQPSF Non-current assets 'JOBODJBM3FQPSUJOH4UBOEBSETUPHJWFBUSVFBOEGBJSWJFXPGUIFTUBUFPGBGGBJSTPGUIF(SPVQBOEPGUIF6OJWFSTJUZ$PNQBOZ 1SPQFSUZ QMBOUBOEFRVJQNFOU BTBU.BSDIBOEUIFSFTVMUT DIBOHFTJOGVOETBOESFTFSWFTBOEDBTIþPXTPGUIF(SPVQBOEDIBOHFTJOGVOETBOE 1SFQBJEMFBTF SFTFSWFTPGUIF6OJWFSTJUZ$PNQBOZGPSUIFZFBSFOEFEPOUIBUEBUF 4VCTJEJBSJFT "WBJMBCMFGPSTBMFýOBODJBMBTTFUT Report on other legal and regulatory requirements 4UVEFOUMPBOT 'JOBODFMFBTFSFDFJWBCMFT 7 *OPVSPQJOJPO UIFBDDPVOUJOHBOEPUIFSSFDPSETSFRVJSFECZUIF"DUUPCFLFQUCZUIF6OJWFSTJUZ$PNQBOZBOECZUIPTF TVCTJEJBSJFTJODPSQPSBUFEJO4JOHBQPSFPGXIJDIXFBSFUIFBVEJUPSTIBWFCFFOQSPQFSMZLFQUJOBDDPSEBODFXJUIUIFQSPWJTJPOT Current assets PGUIF"DU %FSJWBUJWFý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otal assets
Current liabilities %FSJWBUJWFýOBODJBMJOTUSVNFOUT 8 KPMG LLP 5SBEFBOEPUIFSQBZBCMFT Public Accountants and (SBOUSFDFJWFEJOBEWBODFo0QFSBUJOH(SBOUT (SBOUSFDFJWFEJOBEWBODFo*5BOE'& Certi!ed Public Accountants 4IPSUUFSNCPSSPXJOHT %FGFSSFEUVJUJPOBOEPUIFSGFFT 3FTFBSDIHSBOUTSFDFJWFEJOBEWBODF 4JOHBQPSF $VSSFOUZFBSUBYQBZBCMF +VMZ Non-current liabilities %FGFSSFEDBQJUBMHSBOUT 0UIFSOPODVSSFOUMJBCJMJUJFT 4JOLJOHGVOESFDFJWFEJOBEWBODF Total liabilities Net assets
$BQJUBMBDDPVOU "DDVNVMBUFETVSQMVT (FOFSBMGVOE &OEPXNFOUGVOE 0UIFSSFTUSJDUFEGVOE Funds and reserves
'VOETNBOBHFEPOCFIBMGPGUIF.JOJTUSZ 3FQSFTFOUFECZ /FUBTTFUTNBOBHFEPOCFIBMGPGUIF.JOJTUSZ
5IFBDDPNQBOZJOHOPUFTGPSNBOJOUFHSBMQBSUPGUIFTFýOBODJBMTUBUFNFOUT
NTU ANNUAL REPORT 2011 68 69 NTU ANNUAL REPORT 2011 STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF COMPREHENSIVE INCOME :FBSFOEFE.BSDI :FBSFOEFE.BSDI
General fund Endowment fund Other restricted fund Total General fund Endowment fund Other restricted fund Total 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Note $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Group Income Group 5VJUJPOBOE Balance brought PUIFSGFFT forward 3FOUBMJODPNF 3FTFBSDIHSBOUT $BQJUBMFYQFOEJUVSF *OUFSFTUJODPNF OPUDBQJUBMJTFE %POBUJPOT -PTTPOEJTQPTBMPG 0UIFSHSBOUT QSPQFSUZ QMBOU 4VOESZJODPNF BOEFRVJQNFOU %FGFSSFEDBQJUBM 0UIFSFYQFOTFT 877 HSBOUTBNPSUJTFE 5PUBMFYQFOTFT OPONJOJTUSZ Surplus/(De!cit) 5PUBM*ODPNF before grants CFGPSFQSPýUPO from ministries JOWFTUNFOUT 1SPýUPO Grants from JOWFTUNFOUT ministries 5PUBMJODPNF %FWFMPQNFOU BGUFSQSPýUPO HSBOUT JOWFTUNFOUT 0QFSBUJOHHSBOUT 0UIFSHSBOUT Expenditure %FGFSSFEDBQJUBM &YQFOEJUVSFPO HSBOUTBNPSUJTFE NBOQPXFS 5PUBMHSBOUTGSPN 5FBDIJOH NJOJTUSJFT 3FTFBSDI Surplus/(De!cit) "ENJOJTUSBUJPO after grants .BJOUFOBODF from ministries -JCSBSZCPPLT 5BYBUJPO BOE Surplus/(De!cit) QFSJPEJDBMT for the year %FQSFDJBUJPOPG 0UIFSDPNQSFIFOTJWF QSPQFSUZ JODPNF OFUPGUBY QMBOUBOE Total FRVJQNFOU comprehensive "NPSUJTBUJPOPG income / (loss) QSFQBJEMFBTF for the year Balance carried forward
5IFBDDPNQBOZJOHOPUFTGPSNBOJOUFHSBMQBSUPGUIFTFýOBODJBMTUBUFNFOUT 5IFBDDPNQBOZJOHOPUFTGPSNBOJOUFHSBMQBSUPGUIFTFýOBODJBMTUBUFNFOUT
NTU ANNUAL REPORT 2011 70 71 NTU ANNUAL REPORT 2011 STATEMENTS OF CHANGES IN FUNDS AND RESERVES STATEMENTS OF CHANGES IN FUNDS AND RESERVES :FBSFOEFE.BSDI :FBSFOEFE.BSDI
Accumulated surplus Accumulated surplus Other Other Capital General Endowment restricted Capital General Endowment restricted account fund fund fund Total account fund fund fund Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Group University Company
"U"QSJM "U"QSJM 5PUBMDPNQSFIFOTJWFJODPNF MPTT GPSUIFZFBS 5PUBMDPNQSFIFOTJWFJODPNF MPTT GPSUIFZFBS 5SBOTGFSGSPNFOEPXNFOUGVOE 5SBOTGFSGSPNFOEPXNFOUGVOE 5SBOTGFSUPSFTFBSDIHSBOUTSFDFJWFEJOBEWBODF 5SBOTGFSUPSFTFBSDIHSBOUTSFDFJWFEJOBEWBODF 5SBOTGFSUPEFGFSSFEDBQJUBMHSBOUT 5SBOTGFSUPEFGFSSFEDBQJUBMHSBOUT 6UJMJTBUJPOPGPUIFSSFTUSJDUFEGVOE 6UJMJTBUJPOPGPUIFSSFTUSJDUFEGVOE 5SBOTGFSUPPUIFSSFTUSJDUFEGVOE 5SBOTGFSUPHFOFSBMGVOE 5SBOTGFSUPPUIFSSFTUSJDUFEGVOE 'BJSWBMVFBEKVTUNFOU 5SBOTGFSUPHFOFSBMGVOE "U.BSDI 'BJSWBMVFBEKVTUNFOU "U.BSDI
"U"QSJM 5PUBMDPNQSFIFOTJWFJODPNF MPTT GPSUIFZFBS "U"QSJM 5SBOTGFSGSPNFOEPXNFOUGVOE 5PUBMDPNQSFIFOTJWFJODPNF MPTT GPSUIFZFBS 5SBOTGFSUPSFTFBSDIHSBOUTSFDFJWFEJOBEWBODF 5SBOTGFSGSPNFOEPXNFOUGVOE 5SBOTGFSUPEFGFSSFEDBQJUBMHSBOUT 5SBOTGFSUPSFTFBSDIHSBOUTSFDFJWFEJOBEWBODF 6UJMJTBUJPOPGPUIFSSFTUSJDUFEGVOEHFOFSBMGVOE 5SBOTGFSUPEFGFSSFEDBQJUBMHSBOUT 5SBOTGFSUPPUIFSSFTUSJDUFEGVOE 6UJMJTBUJPOPGPUIFSSFTUSJDUFEGVOEHFOFSBMGVOE 5SBOTGFSUPHFOFSBMGVOE 5SBOTGFSUPPUIFSSFTUSJDUFEGVOE 'BJSWBMVFBEKVTUNFOU 5SBOTGFSUPHFOFSBMGVOE "U.BSDI 'BJSWBMVFBEKVTUNFOU "U.BSDI
5IFBDDPNQBOZJOHOPUFTGPSNBOJOUFHSBMQBSUPGUIFTFýOBODJBMTUBUFNFOUT 5IFBDDPNQBOZJOHOPUFTGPSNBOJOUFHSBMQBSUPGUIFTFýOBODJBMTUBUFNFOUT
NTU ANNUAL REPORT 2011 72 73 NTU ANNUAL REPORT 2011 CONSOLIDATED CASH FLOWS STATEMENT NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
2011 2010 5IFTFOPUFTGPSNBOJOUFHSBMQBSUPGUIFýOBODJBMTUBUFNFOUT Note $’000 $’000 5IFýOBODJBMTUBUFNFOUTXFSFBVUIPSJTFEGPSJTTVFCZUIF#PBSEPG5SVTUFFTPO+VMZ
Operating activities 1 Domicile and Activities %FýDJUCFGPSFHSBOUTGSPNNJOJTUSJFT /BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ UIF6OJWFSTJUZ$PNQBOZ FTUBCMJTIFEVOEFSUIF4JOHBQPSF$PNQBOJFT"DU $IBQUFS "EKVTUNFOUTGPS JTEPNJDJMFEJO4JOHBQPSF5IF6OJWFSTJUZ$PNQBOZTSFHJTUFSFEPGýDFBOEQMBDFPGCVTJOFTTJTMPDBUFEBU/BOZBOH 3FTFBSDIHSBOUJODPNF "WFOVF 4JOHBQPSF %FQSFDJBUJPOPGQSPQFSUZ QMBOUBOEFRVJQNFOU "NPSUJTBUJPOPGQSFQBJEMFBTF 5IF6OJWFSTJUZ$PNQBOZJTQSJODJQBMMZFOHBHFEJOUIFBEWBODFNFOUBOEEJTTFNJOBUJPOPGLOPXMFEHF UIFQSPNPUJPOPG -PTTPOEJTQPTBMPGQSPQFSUZ QMBOUBOEFRVJQNFOU SFTFBSDIBOETDIPMBSTIJQTBOEUIFDPOGFSSJOHBOEBXBSEJOHPGEFHSFFT EJQMPNBTBOEDFSUJýDBUFT5IFQSJODJQBMBDUJWJUJFT 1SPýUPOJOWFTUNFOUT PGUIFTVCTJEJBSJFTBSFTFUPVUJO/PUFø %FGFSSFEDBQJUBMHSBOUTBNPSUJTFE OPONJOJTUSZ "TUIFPQFSBUJPOTPGUIF6OJWFSTJUZ$PNQBOZJTTVCTUBOUJBMMZGVOEFECZUIF.JOJTUSZPG&EVDBUJPO .0&PSUIF.JOJTUSZ *OUFSFTUJODPNF UISPVHIHPWFSONFOUHSBOUT XJUI.0&IBWJOHUIFQPXFSUPBQQPJOUBOESFNPWFNFNCFSTUPUIF#PBSEPG5SVTUFFTPG 1SPWJTJPO NBEF SFWFSTFE UIF6OJWFSTJUZ$PNQBOZ .0&JTSFHBSEFEBTUIFQBSFOUFOUJUZ $IBOHFTJOXPSLJOHDBQJUBM 5IFDPOTPMJEBUFEýOBODJBMTUBUFNFOUTSFMBUFUPUIF6OJWFSTJUZ$PNQBOZBOEJUTTVCTJEJBSJFT SFGFSSFEUPBTUIF(SPVQ 0UIFSQBZBCMFT 5SBEFBOEPUIFSSFDFJWBCMFT 2 Summary of Signi"cant Accounting Policies %FGFSSFEUVJUJPOBOEPUIFSGFFT 2.1 Basis of preparation -PBOTFYUFOEFEUPTUVEFOUT B 4UBUFNFOUPGDPNQMJBODF $BTIHFOFSBUFEGSPNPQFSBUJOHBDUJWJUJFT 5IF ýOBODJBM TUBUFNFOUT IBWF CFFO QSFQBSFE JO BDDPSEBODF XJUI 4JOHBQPSF 'JOBODJBM 3FQPSUJOH *ODPNFUBYFTQBJE 4UBOEBSET '34 Cash !ows used in operating activities C #BTJTPGNFBTVSFNFOU 5IFýOBODJBMTUBUFNFOUTIBWFCFFOQSFQBSFEJOIJTUPSJDBMDPTUCBTJTFYDFQUPUIFSXJTFEJTDMPTFECFMPX Financing activities 4JOLJOHGVOESFDFJWFE D 'VODUJPOBMBOEQSFTFOUBUJPODVSSFODZ *5BOE'&HSBOUSFDFJWFE 5IFýOBODJBMTUBUFNFOUTBSFQSFTFOUFEJO4JOHBQPSFEPMMBSTXIJDIJTUIF(SPVQTGVODUJPOBMDVSSFODZ"MM 3FTFBSDIHSBOUTSFDFJWFE ýOBODJBM JOGPSNBUJPO QSFTFOUFE JO 4JOHBQPSF EPMMBST IBT CFFO SPVOEFE UP UIF OFBSFTU UIPVTBOE VOMFTT 0QFSBUJOHHSBOUTSFDFJWFE OFUPGQBZNFOUPGHPPETBOETFSWJDFUBYFYQFOTFPO PUIFSXJTFTUBUFE UVJUJPOGFFTBOEUVJUJPOHSBOUT E 6TFPGFTUJNBUFTBOEKVEHFNFOUT %FWFMPQNFOUHSBOUTBOESFMBUFEJODPNFSFDFJWFE 5IFQSFQBSBUJPOPGýOBODJBMTUBUFNFOUTJODPOGPSNJUZXJUI'34SFRVJSFTNBOBHFNFOUUPNBLFKVEHFNFOUT .JOJTUSZHSBOUTSFDFJWFE FTUJNBUFTBOEBTTVNQUJPOTUIBUBGGFDUUIFBQQMJDBUJPOPGBDDPVOUJOHQPMJDJFTBOEUIFSFQPSUFEBNPVOUTPG 6UJMJTBUJPOPGPUIFSSFTUSJDUFEGVOET BTTFUT MJBCJMJUJFT JODPNFBOEFYQFOTFT"DUVBMSFTVMUTNBZEJGGFSGSPNUIFTFFTUJNBUFT /FUSFQBZNFOUGSPNCPSSPXJOHT Cash !ows from "nancing activities &TUJNBUFTBOEVOEFSMZJOHBTTVNQUJPOTBSFSFWJFXFEPOBOPOHPJOHCBTJT3FWJTJPOTUPBDDPVOUJOHFTUJNBUFT BSFSFDPHOJTFEJOUIFQFSJPEJOXIJDIUIFFTUJNBUFTBSFSFWJTFEBOEJOBOZGVUVSFQFSJPETBGGFDUFE Investing activities *OQBSUJDVMBS JOGPSNBUJPOBCPVUTJHOJýDBOUBSFBTPGFTUJNBUJPO VODFSUBJOUZBOEDSJUJDBMKVEHFNFOUTJOBQQMZJOH "DRVJTJUJPOPGQSPQFSUZ QMBOUBOEFRVJQNFOU BDDPVOUJOHQPMJDJFTUIBUIBWFUIFNPTUTJHOJýDBOUFGGFDUPOUIFBNPVOUSFDPHOJTFEJOUIFýOBODJBMTUBUFNFOUT 1VSDIBTFPGPUIFSýOBODJBMBTTFUT BSFEFTDSJCFEJOUIFGPMMPXJOHOPUFT 1SPDFFETGSPNTBMFPGPUIFSýOBODJBMBTTFUT *ODSFBTF EFDSFBTF JODBTIIFMECZGVOENBOBHFST t /PUFoNFBTVSFNFOUPGUIFSFDPWFSBCMFBNPVOUTPGOPOýOBODJBMBTTFUT *OUFSFTUSFDFJWFE 5IFWBMVBUJPOPGQSPQFSUZ QMBOUBOEFRVJQNFOUJTNFBTVSFECBTFEPOUIFJSSFDPWFSBCMFBNPVOUTBT Cash !ows used in investing activities EFTDSJCFEJO/PUF8IFSFUIFDBSSZJOHWBMVFTPGUIFQSPQFSUZ QMBOUBOEFRVJQNFOUFYDFFEUIF Net (decrease)/ increase in cash and cash equivalents SFDPWFSBCMFBNPVOUT UIFBTTFUTBSFXSJUUFOEPXOUPUIFJSSFDPWFSBCMFBNPVOUT $BTIBOEDBTIFRVJWBMFOUTBUCFHJOOJOHPGUIFZFBS Cash and cash equivalents at end of the year
5IFBDDPNQBOZJOHOPUFTGPSNBOJOUFHSBMQBSUPGUIFTFýOBODJBMTUBUFNFOUT
NTU ANNUAL REPORT 2011 74 75 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
2 Summary of Signi!cant Accounting Policies (cont’d) 2 Summary of Signi!cant Accounting Policies (cont’d) 2.1 Basis of preparation (cont’d) 2.2 Consolidation (cont’d) E 6TFPGFTUJNBUFTBOEKVEHFNFOUT DPOUE Subsidiaries t /PUFT BOEoWBMVBUJPOPGýOBODJBMJOTUSVNFOUT 4VCTJEJBSJFT BSF FOUJUJFT DPOUSPMMFE CZ UIF (SPVQ 5IF ýOBODJBM TUBUFNFOUT PG TVCTJEJBSJFT BSF JODMVEFE JO UIF Derivative !nancial instruments DPOTPMJEBUFEýOBODJBMTUBUFNFOUTGSPNUIFEBUFUIBUDPOUSPMDPNNFODFTVOUJMUIFEBUFUIBUDPOUSPMDFBTFT 5IF GBJS WBMVF PG EFSJWBUJWFT GPSFJHO DVSSFODZ GPSXBSET JT FTUJNBUFE CZ EJTDPVOUJOH UIF EJGGFSFODF 5IF BDDPVOUJOH QPMJDJFT PG TVCTJEJBSJFT IBWF CFFO DIBOHFE XIFSF OFDFTTBSZ UP BMJHO UIFN XJUI UIF QPMJDJFT CFUXFFOUIFDPOUSBDUVBMGPSXBSEQSJDFBOEUIFDVSSFOUGPSXBSEQSJDFGPSUIFSFTJEVBMQFSJPEUPNBUVSJUZ PGUIFDPOUSBDU BEPQUFECZUIF(SPVQ
Financial assets at fair value through income and expenditure Transactions eliminated on consolidation 5IFGBJSWBMVFTPGýOBODJBMJOTUSVNFOUTUSBEFEJOBDUJWFNBSLFUTBSFCBTFEPORVPUFENBSLFUQSJDFTBU *OUSBHSPVQCBMBODFTBOEUSBOTBDUJPOT BOEBOZVOSFBMJTFEJODPNFPSFYQFOTFTBSJTJOHGSPNJOUSBHSPVQUSBOTBDUJPOT UIFCBMBODFTIFFUEBUF5IFWBMVBUJPONFUIPEPMPHJFTGPSJOWFTUNFOUTJOVORVPUFEFRVJUJFTBSFTFUPVU BSFFMJNJOBUFEJOQSFQBSJOHUIFDPOTPMJEBUFEýOBODJBMTUBUFNFOUT JO/PUF Accounting for subsidiaries *OGPSNBUJPO BCPVU BTTVNQUJPOT BOE FTUJNBUJPO VODFSUBJOUJFT UIBU IBWF B TJHOJýDBOU SJTL PG SFTVMUJOH JO B *OWFTUNFOU JO TVCTJEJBSJFT BSF TUBUFE JO UIF 6OJWFSTJUZ $PNQBOZT CBMBODF TIFFU BU DPTU MFTT BDDVNVMBUFE NBUFSJBMBEKVTUNFOUXJUIJOUIFOFYUýOBODJBMZFBSBSFJODMVEFEJOUIFGPMMPXJOHOPUFT JNQBJSNFOUMPTTFT
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NTU ANNUAL REPORT 2011 76 77 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
2 Summary of Signi!cant Accounting Policies (cont’d) 2 Summary of Signi!cant Accounting Policies (cont’d) 2.4 Funds(cont’d) 2.5 Grants and sinking fund (cont’d) General and restricted funds (cont’d) Jobs credit scheme 5IFGPMMPXJOHGVOETUFSNFEBTi0UIFS3FTUSJDUFE'VOEwBSFTFUVQBOEEJTDMPTFETFQBSBUFMZGSPNUIF6OJWFSTJUZ $BTIHSBOUTSFDFJWFEGSPNUIFHPWFSONFOUJOSFMBUJPOUPUIF+PCT$SFEJU4DIFNFBSFSFDPHOJTFEVQPOSFDFJQU $PNQBOZTHFOFSBMGVOE 4VDI HSBOUT BSF QSPWJEFE UP EFGSBZ UIF XBHF DPTUT JODVSSFE BOE BSF PGGTFU BHBJOTU TUBGG DPTUT JO UIF ýOBODJBM TUBUFNFOUT J GVOETDSFBUFEGSPNEPOBUJPOTGSPNFYUFSOBMCPEJFTGPSTQFDJBMQVSQPTFT
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NTU ANNUAL REPORT 2011 78 79 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
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DBUFHPSJFT ýOBODJBM BTTFUT BU GBJS WBMVF UISPVHI JODPNFBOEFYQFOEJUVSF BWBJMBCMFGPSTBMFýOBODJBMBTTFUTBOEMPBOTBOESFDFJWBCMFT #VJMEJOHTVOEFSDPOTUSVDUJPOBSFTUBUFEBUDPTU&YQFOEJUVSFSFMBUJOHUPUIFDPOTUSVDUJPOPGQSPKFDUTBSFDBQJUBMJTFE XIFOJODVSSFE/PEFQSFDJBUJPOJTDIBSHFEPOCVJMEJOHVOEFSDPOTUSVDUJPOVOUJMUIFCVJMEJOHVOEFSDPOTUSVDUJPO Financial assets at fair value through income and expenditure JTDPNQMFUFEBOEUIFSFMBUFEQSPQFSUZ QMBOUBOEFRVJQNFOUBSFUSBOTGFSSFEUPUIFSFTQFDUJWFQSPQFSUZ QMBOUBOE "OJOTUSVNFOUJTDMBTTJýFEBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSFJGJUJTBDRVJSFEQSJODJQBMMZGPSUIFQVSQPTF FRVJQNFOUDBUFHPSJFTBOEEFQSFDJBUFEBDDPSEJOHMZ PGTFMMJOHJOUIFTIPSUUFSNPSJTEFTJHOBUFEBTTVDIVQPOJOJUJBMSFDPHOJUJPO'JOBODJBMJOTUSVNFOUTBSFEFTJHOBUFE BUGBJSWBMVFUISPVHIJODPNFPSFYQFOEJUVSFJGUIF(SPVQNBOBHFTTVDIJOWFTUNFOUTBOENBLFTQVSDIBTFBOETBMF 2.7 Impairment – non-!nancial assets EFDJTJPOTCBTFEPOUIFJSGBJSWBMVFJOBDDPSEBODFXJUIUIF(SPVQTEPDVNFOUFESJTLNBOBHFNFOUBOEJOWFTUNFOU 5IFDBSSZJOHBNPVOUTPGUIF(SPVQTOPOý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ýBCMF BTTFU HSPVQ UIBU HFOFSBUFT DBTI þPXT 'JOBODJBMBTTFUTEFTJHOBUFEBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSFDPNQSJTFýYFEJODPNF RVPUFEFRVJUZ UIBUMBSHFMZBSFJOEFQFOEFOUGSPNPUIFSBTTFUTBOEHSPVQT*NQBJSNFOUMPTTFTBSFSFDPHOJTFEJOUIFTUBUFNFOUPG VORVPUFEFRVJUZBOEPUIFSJOWFTUNFOUT DPNQSFIFOTJWFJODPNFVOMFTTJUSFWFSTFTBQSFWJPVTSFWBMVBUJPO DSFEJUFEUPFRVJUZ JOXIJDIDBTFJUJTDIBSHFEUP Loans and receivables FRVJUZ*NQBJSNFOUMPTTFTSFDPHOJTFEJOSFTQFDUPGDBTIHFOFSBUJOHVOJUTBSFBMMPDBUFEýSTUUPSFEVDFUIFDBSSZJOH -PBOTBOESFDFJWBCMFTBSFýOBODJBMBTTFUTXJUIýYFEPSEFUFSNJOBCMFQBZNFOUTUIBUBSFOPURVPUFEJOBOBDUJWF BNPVOUPGBOZHPPEXJMMBMMPDBUFEUPUIFVOJUTBOEUIFOUPSFEVDFUIFDBSSZJOHBNPVOUPGUIFPUIFSBTTFUTJOUIFVOJU NBSLFU4VDIBTTFUTBSFSFDPHOJTFEJOJUJBMMZBUGBJSWBMVFQMVTBOZEJSFDUMZBUUSJCVUBCMFUSBOTBDUJPODPTUT4VCTFRVFOU HSPVQPGVOJUT POBQSPSBUBCBTJT UPJOJUJBMSFDPHOJUJPO MPBOTBOESFDFJWBCMFTBSFNFBTVSFEBUBNPSUJTFEDPTUVTJOHUIFFGGFDUJWFJOUFSFTUNFUIPE MFTT 5IFSFDPWFSBCMFBNPVOUPGBOBTTFUPSDBTIHFOFSBUJOHVOJUJTUIFHSFBUFSPGJUTWBMVFJOVTFBOEJUTGBJSWBMVFMFTT BOZJNQBJSNFOUMPTTFT DPTUTUPTFMM*OBTTFTTJOHWBMVFJOVTF UIFFTUJNBUFEGVUVSFDBTIþPXTBSFEJTDPVOUFEUPUIFJSQSFTFOUWBMVFVTJOH -PBOT BOE SFDFJWBCMFT DPNQSJTF USBEF BOE PUIFS SFDFJWBCMFT TUVEFOU MPBOT ýOBODF MFBTF SFDFJWBCMFT HSBOU BQSFUBYEJTDPVOUSBUFUIBUSFþFDUTDVSSFOUNBSLFUBTTFTTNFOUTPGUIFUJNFWBMVFPGNPOFZBOEUIFSJTLTTQFDJýDUP SFDFJWBCMFTBOEDBTIBOEDBTIFRVJWBMFOUT UIFBTTFUPSDBTIHFOFSBUJOHVOJU'PSUIFQVSQPTFPGJNQBJSNFOUUFTUJOH BTTFUTUIBUDBOOPUCFUFTUFEJOEJWJEVBMMZ $BTIBOEDBTIFRVJWBMFOUTDPNQSJTFDBTICBMBODFTBOECBOLEFQPTJUT BSFHSPVQFEUPHFUIFSJOUPUIFTNBMMFTUHSPVQPGBTTFUTUIBUHFOFSBUFTDBTIJOþPXTGSPNDPOUJOVJOHVTFUIBUBSF MBSHFMZJOEFQFOEFOUPGUIFDBTIJOþPXTPGPUIFSBTTFUTPSDBTIHFOFSBUJOHVOJU Available-for-sale !nancial assets 5IF(SPVQTJOWFTUNFOUTJODFSUBJOFRVJUZTFDVSJUJFTBSFDMBTTJýFEBTBWBJMBCMFGPSTBMFýOBODJBMBTTFUTJGUIFZBSF *NQBJSNFOUMPTTFTSFDPHOJTFEJOQSJPSQFSJPETBSFBTTFTTFEBUFBDISFQPSUJOHEBUFGPSBOZJOEJDBUJPOTUIBUUIFMPTT OPUDMBTTJýFEJOBOZPGUIFPUIFSDBUFHPSJFT4VCTFRVFOUUPJOJUJBMSFDPHOJUJPO UIFZBSFNFBTVSFEBUGBJSWBMVF IBTEFDSFBTFEPSOPMPOHFSFYJTUT"OJNQBJSNFOUMPTTJTSFWFSTFEJGUIFSFIBTCFFOBDIBOHFJOUIFFTUJNBUFT BOEDIBOHFTUIFSFJO PUIFSUIBOGPSJNQBJSNFOUMPTTFT BSFSFDPHOJTFEEJSFDUMZJOFRVJUZ8IFOBOJOWFTUNFOUJT VTFEUPEFUFSNJOFUIFSFDPWFSBCMFBNPVOU"OJNQBJSNFOUMPTTJTSFWFSTFEPOMZUPUIFFYUFOUUIBUUIFBTTFUT EFSFDPHOJTFE UIFDVNVMBUJWFHBJOPSMPTTJOFRVJUZJTUSBOTGFSSFEUPUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNF DBSSZJOHBNPVOUEPFTOPUFYDFFEUIFDBSSZJOHBNPVOUUIBUXPVMEIBWFCFFOEFUFSNJOFE OFUPGEFQSFDJBUJPOPS BNPSUJTBUJPO JGOPJNQBJSNFOUMPTTIBECFFOSFDPHOJTFE
NTU ANNUAL REPORT 2011 80 81 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
2 Summary of Signi!cant Accounting Policies (cont’d) 2 Summary of Signi!cant Accounting Policies (cont’d) 2.8 Financial instruments (cont’d) 2.9 Employee bene!ts Non-derivative !nancial liabilities De!ned contribution plans 5IF(SPVQSFDPHOJTFTýOBODJBMMJBCJMJUJFT JODMVEJOHMJBCJMJUJFTEFTJHOBUFEBUGBJSWBMVFUISPVHIJODPNFPSFYQFOEJUVSF " EFýOFE DPOUSJCVUJPO QMBO JT B QPTUFNQMPZNFOU CFOFýU QMBO VOEFS XIJDI BO FOUJUZ QBZT ýYFE DPOUSJCVUJPOT POUIFUSBEFEBUFBUXIJDIUIF(SPVQCFDPNFTBQBSUZUPUIFDPOUSBDUVBMQSPWJTJPOTPGUIFJOTUSVNFOU JOUP B TFQBSBUF FOUJUZ BOE XJMM IBWF OP MFHBM PS DPOTUSVDUJWF PCMJHBUJPO UP QBZ GVSUIFS BNPVOUT 0CMJHBUJPOT GPS DPOUSJCVUJPOTUPEFýOFEDPOUSJCVUJPOQFOTJPOQMBOTBSFSFDPHOJTFEBTBOFNQMPZFFCFOFýUFYQFOTFJOUIFTUBUFNFOU 5IF(SPVQEFSFDPHOJTFTBýOBODJBMMJBCJMJUZXIFOJUTDPOUSBDUVBMPCMJHBUJPOTBSFEJTDIBSHFEPSDBODFMMFEPSFYQJSF PGDPNQSFIFOTJWFJODPNFJOUIFQFSJPETEVSJOHXIJDITFSWJDFTBSFSFOEFSFECZFNQMPZFFT 'JOBODJBMBTTFUTBOEMJBCJMJUJFTBSFPGGTFUBOEUIFOFUBNPVOUQSFTFOUFEJOUIFCBMBODFTIFFUXIFO BOEPOMZXIFO Short-term employee bene!ts UIF(SPVQIBTBMFHBMSJHIUUPPGGTFUUIFBNPVOUTBOEJOUFOETFJUIFSUPTFUUMFPOBOFUCBTJTPSUPSFBMJTFUIFBTTFU 4IPSUUFSNFNQMPZFFCFOFýUPCMJHBUJPOT JODMVEJOHBDDVNVMBUFEDPNQFOTBUFEBCTFODFT BSFNFBTVSFEPOBO BOETFUUMFUIFMJBCJMJUZTJNVMUBOFPVTMZ VOEJTDPVOUFECBTJTBOEBSFFYQFOTFEBTUIFSFMBUFETFSWJDFTBSFQSPWJEFE 5IF (SPVQ DMBTTJýFT OPOEFSJWBUJWF ýOBODJBM MJBCJMJUJFT JOUP UIF PUIFS ýOBODJBM MJBCJMJUJFT DBUFHPSZ 4VDI ýOBODJBM MJBCJMJUJFTBSFSFDPHOJTFEJOJUJBMMZBUGBJSWBMVFQMVTBOZEJSFDUMZBUUSJCVUBCMFUSBOTBDUJPODPTUT4VCTFRVFOUUPJOJUJBM 2.10 Provisions SFDPHOJUJPO UIFTFýOBODJBMMJBCJMJUJFTBSFNFBTVSFEBUBNPSUJTFEDPTUVTJOHUIFFGGFDUJWFJOUFSFTUNFUIPE "QSPWJTJPOJTSFDPHOJTFEJG BTBSFTVMUPGBQBTUFWFOU UIF(SPVQIBTBQSFTFOUMFHBMPSDPOTUSVDUJWFPCMJHBUJPO /POEFSJWBUJWFýOBODJBMMJBCJMJUJFTDPNQSJTFMPBOTBOECPSSPXJOHT BOEUSBEFBOEPUIFSQBZBCMFT UIBUDBOCFFTUJNBUFESFMJBCMZ BOEJUJTQSPCBCMFUIBUBOPVUþPXPGFDPOPNJDCFOFýUTXJMMCFSFRVJSFEUPTFUUMFUIF PCMJHBUJPO1SPWJTJPOTBSFEFUFSNJOFECZEJTDPVOUJOHUIFFYQFDUFEGVUVSFDBTIþPXTBUBQSFUBYSBUFUIBUSFþFDUT #BOLPWFSESBGUTUIBUBSFSFQBZBCMFPOEFNBOEBOEGPSNBOJOUFHSBMQBSUPGUIF(SPVQTDBTINBOBHFNFOUBSF DVSSFOUNBSLFUBTTFTTNFOUTPGUIFUJNFWBMVFPGNPOFZBOEUIFSJTLTTQFDJýDUPUIFMJBCJMJUZ JODMVEFEBTBDPNQPOFOUPGDBTIBOEDBTIFRVJWBMFOUTGPSUIFQVSQPTFPGUIFTUBUFNFOUPGDBTIþPXT
Derivative !nancial instruments and hedging instruments 2.11 Income tax 5IF(SPVQIPMETEFSJWBUJWFýOBODJBMJOTUSVNFOUT UISPVHIJUTJOUFSOBUJPOBMGVOENBOBHFST UPIFEHFJUTGPSFJHO *ODPNFUBYFYQFOTFDPNQSJTFTDVSSFOUBOEEFGFSSFEUBY*ODPNFUBYFYQFOTFJTSFDPHOJTFEJOUIFTUBUFNFOUPG DVSSFODZ BOE JOUFSFTU SBUF SJTL FYQPTVSFT &NCFEEFE EFSJWBUJWFT BSF TFQBSBUFE GSPN UIF IPTU DPOUSBDU BOE DPNQSFIFOTJWFJODPNFFYDFQUUPUIFFYUFOUUIBUJUSFMBUFTUPJUFNTSFDPHOJTFEEJSFDUMZJOFRVJUZ JOXIJDIDBTFJUJT BDDPVOUFE GPS TFQBSBUFMZ JG UIF FDPOPNJD DIBSBDUFSJTUJDT BOE SJTLT PG UIF IPTU DPOUSBDU BOE UIF FNCFEEFE SFDPHOJTFEJOFRVJUZ EFSJWBUJWFBSFOPUDMPTFMZSFMBUFE BTFQBSBUFJOTUSVNFOUXJUIUIFTBNFUFSNTBTUIFFNCFEEFEEFSJWBUJWFXPVME $VSSFOUUBYJTUIFFYQFDUFEUBYQBZBCMFPOUIFUBYBCMFJODPNFGPSUIFZFBS VTJOHUBYSBUFTFOBDUFEPSTVCTUBOUJWFMZ NFFUUIFEFýOJUJPOPGBEFSJWBUJWF BOEUIFDPNCJOFEJOTUSVNFOUJTOPUNFBTVSFEBUGBJSWBMVFUISPVHIJODPNFBOE FOBDUFEBUUIFSFQPSUJOHEBUF BOEBOZBEKVTUNFOUUPUBYQBZBCMFJOSFTQFDUPGQSFWJPVTZFBST FYQFOEJUVSF %FGFSSFEUBYJTSFDPHOJTFEJOSFTQFDUPGUFNQPSBSZEJGGFSFODFTCFUXFFOUIFDBSSZJOHBNPVOUTPGBTTFUTBOEMJBCJMJUJFT %FSJWBUJWFTBSFSFDPHOJTFEJOJUJBMMZBUGBJSWBMVFBUUSJCVUBCMFUSBOTBDUJPODPTUTBSFSFDPHOJTFEJOUIFTUBUFNFOUPG GPS ýOBODJBM SFQPSUJOH QVSQPTFT BOE UIF BNPVOUT VTFE GPS UBYBUJPO QVSQPTFT %FGFSSFE UBY JT OPU SFDPHOJTFE DPNQSFIFOTJWFJODPNFXIFOJODVSSFE4VCTFRVFOUUPJOJUJBMSFDPHOJUJPO EFSJWBUJWFTBSFNFBTVSFEBUGBJSWBMVF BOE GPSUFNQPSBSZEJGGFSFODFTPOUIFJOJUJBMSFDPHOJUJPOPGBTTFUTPSMJBCJMJUJFTJOBUSBOTBDUJPOUIBUJTOPUBCVTJOFTT DIBOHFTUIFSFJOBDDPVOUFEGPSJOUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNF DPNCJOBUJPOBOEUIBUBGGFDUTOFJUIFSBDDPVOUJOHOPSUBYBCMFJODPNFPSFYQFOEJUVSFUFNQPSBSZEJGGFSFODFTSFMBUFE Impairment of !nancial assets UPJOWFTUNFOUTJOTVCTJEJBSJFTBOEKPJOUMZDPOUSPMMFEFOUJUJFTUPUIFFYUFOUUIBUJUJTQSPCBCMFUIBUUIFZXJMMOPUSFWFSTF "ýOBODJBMBTTFUJTBTTFTTFEBUFBDISFQPSUJOHEBUFUPEFUFSNJOFXIFUIFSUIFSFJTBOZPCKFDUJWFFWJEFODFUIBUJU JOUIFGPSFTFFBCMFGVUVSFBOEUBYBCMFUFNQPSBSZEJGGFSFODFTBSJTJOHPOUIFJOJUJBMSFDPHOJUJPOPGHPPEXJMM JTJNQBJSFE"ýOBODJBMBTTFUJTDPOTJEFSFEUPCFJNQBJSFEJGPCKFDUJWFFWJEFODFJOEJDBUFTUIBUPOFPSNPSFFWFOUT %FGFSSFEUBYJTNFBTVSFEBUUIFUBYSBUFTUIBUBSFFYQFDUFEUPCFBQQMJFEUPUIFUFNQPSBSZEJGGFSFODFTXIFOUIFZ IBWFIBEBOFHBUJWFFGGFDUPOUIFFTUJNBUFEGVUVSFDBTIþPXTPGUIBUBTTFU SFWFSTF CBTFEPOUIFMBXTUIBUIBWFCFFOFOBDUFEPSTVCTUBOUJWFMZFOBDUFECZUIFSFQPSUJOHEBUF "O JNQBJSNFOU MPTT JO SFTQFDU PG B ýOBODJBM BTTFU NFBTVSFE BU BNPSUJTFE DPTU JT DBMDVMBUFE BT UIF EJGGFSFODF %FGFSSFEUBYBTTFUTBOEMJBCJMJUJFTBSFPGGTFUJGUIFSFJTBMFHBMMZFOGPSDFBCMFSJHIUUPPGGTFUDVSSFOUUBYMJBCJMJUJFTBOE CFUXFFOJUTDBSSZJOHBNPVOU BOEUIFQSFTFOUWBMVFPGUIFFTUJNBUFEGVUVSFDBTIþPXTEJTDPVOUFEBUUIFPSJHJOBM BTTFUT BOEUIFZSFMBUFUPJODPNFUBYFTMFWJFECZUIFTBNFUBYBVUIPSJUZPOUIFTBNFUBYBCMFFOUJUZ PSPOEJGGFSFOU FGGFDUJWFJOUFSFTUSBUF"OJNQBJSNFOUMPTTJOSFTQFDUPGBOBWBJMBCMFGPSTBMFýOBODJBMBTTFUJTDBMDVMBUFECZSFGFSFODF UBYFOUJUJFT CVUUIFZJOUFOEUPTFUUMFDVSSFOUUBYMJBCJMJUJFTBOEBTTFUTPOBOFUCBTJTPSUIFJSUBYBTTFUTBOEMJBCJMJUJFT UPJUTDVSSFOUGBJSWBMVF XJMMCFSFBMJTFETJNVMUBOFPVTMZ *OEJWJEVBMMZTJHOJýDBOUýOBODJBMBTTFUTBSFUFTUFEGPSJNQBJSNFOUPOBOJOEJWJEVBMCBTJT5IFSFNBJOJOHýOBODJBM "EFGFSSFEUBYBTTFUJTSFDPHOJTFEGPSVOVTFEUBYMPTTFT UBYDSFEJUTBOEEFEVDUJCMFUFNQPSBSZEJGGFSFODFT UPUIF BTTFUTBSFBTTFTTFEDPMMFDUJWFMZJOHSPVQTUIBUTIBSFTJNJMBSDSFEJUSJTLDIBSBDUFSJTUJDT FYUFOUUIBUJUJTQSPCBCMFUIBUGVUVSFUBYBCMFQSPýUTXJMMCFBWBJMBCMFBHBJOTUXIJDIUIFZDBOCFVUJMJTFE%FGFSSFE "MM JNQBJSNFOU MPTTFT BSF SFDPHOJTFE JO UIF TUBUFNFOU PG DPNQSFIFOTJWF JODPNF "OZ BDDVNVMBUFE MPTT JO UBYBTTFUTBSFSFWJFXFEBUFBDISFQPSUJOHEBUFBOEBSFSFEVDFEUPUIFFYUFOUUIBUJUJTOPMPOHFSQSPCBCMFUIBUUIF SFTQFDUPGBOBWBJMBCMFGPSTBMFýOBODJBMBTTFUSFDPHOJTFEQSFWJPVTMZJOFRVJUZJTUSBOTGFSSFEUPUIFTUBUFNFOUPG SFMBUFEUBYCFOFýUXJMMCFSFBMJTFE DPNQSFIFOTJWFJODPNF
*NQBJSNFOUMPTTFTPODFSFDPHOJTFEJOUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNFJOSFTQFDUPGBWBJMBCMFGPSTBMF FRVJUZTFDVSJUJFTBSFOPUSFWFSTFEUISPVHIUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNF"OZTVCTFRVFOUJODSFBTFJO GBJSWBMVFPGTVDIBTTFUTJTSFDPHOJTFEEJSFDUMZJOFRVJUZ
NTU ANNUAL REPORT 2011 82 83 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
2 Summary of Signi!cant Accounting Policies (cont’d) 2 Summary of Signi!cant Accounting Policies (cont’d) 2.14 Lease payments (cont’d) 2.12 Income recognition Determining whether an arrangement contains a lease (cont’d) Student fees "UJODFQUJPOPSVQPOSFBTTFTTNFOUPGUIFBSSBOHFNFOU UIF(SPVQTFQBSBUFTQBZNFOUTBOEPUIFSDPOTJEFSBUJPO *ODPNFGSPNUVJUJPOBOEPUIFSGFFTBSFSFDPHOJTFEJOUIFQFSJPEJOXIJDIUIFTFSWJDFTBSFSFOEFSFE SFRVJSFECZTVDIBOBSSBOHFNFOUJOUPUIPTFGPSUIFMFBTFBOEUIPTFGPSPUIFSFMFNFOUTPOUIFCBTJTPGUIFJSSFMBUJWF Management fees GBJSWBMVFT*GUIF(SPVQDPODMVEFTGPSBýOBODFMFBTFUIBUJUJTJNQSBDUJDBCMFUPTFQBSBUFUIFQBZNFOUTSFMJBCMZ UIFO .BOBHFNFOUGFFTBSFSFDPHOJTFEVQPOTFSWJDFTSFOEFSFE BOBTTFUBOEBMJBCJMJUZBSFSFDPHOJTFEBUBOBNPVOUFRVBMUPUIFGBJSWBMVFPGUIFVOEFSMZJOHBTTFU4VCTFRVFOUMZ Donations UIFMJBCJMJUZJTSFEVDFEBTQBZNFOUTBSFNBEFBOEBOJNQVUFEýOBODFDIBSHFPOUIFMJBCJMJUZJTSFDPHOJTFEVTJOHUIF 6ODPOEJUJPOBMEPOBUJPOTBSFSFDPHOJTFEVQPOSFDFJQU (SPVQTJODSFNFOUBMCPSSPXJOHSBUF
Licence fees 2.15 Finance lease receivables -JDFODFGFFTBSFSFDPHOJTFEJOBDDPSEBODFXJUIUFSNTPGMJDFOTJOHBHSFFNFOU "TTFUTIFMEVOEFSýOBODFMFBTFBSFSFDPHOJTFEJOUIFCBMBODFTIFFUBOEQSFTFOUFEBTSFDFJWBCMFTOFUPGVOFBSOFE Royalties JOUFSFTUBOEBGUFSEFEVDUJPOPGBMMPXBODFGPSQPTTJCMFMPTTFT 3PZBMUJFTBSFSFDPHOJTFEPOTBMF CZMJDFOTPS PGQSPEVDUTVTJOHUIFUFDIOPMPHZHSBOUFE 2.16 Key management personnel Dividends ,FZNBOBHFNFOUQFSTPOOFMPGUIF(SPVQBSFUIPTFQFSTPOTIBWJOHUIFBVUIPSJUZBOESFTQPOTJCJMJUZGPSQMBOOJOH %JWJEFOETBSFSFDPHOJTFEJOUIFýOBODJBMZFBSJOXIJDIUIFSJHIUUPSFDFJWFQBZNFOUJTFTUBCMJTIFE EJSFDUJOH BOE DPOUSPMMJOH UIF BDUJWJUJFT PG UIF FOUJUZ 5IF #PBSE PG 5SVTUFFT BOE TFOJPS NBOBHFNFOU UFBN BSF Rental income DPOTJEFSFEBTLFZNBOBHFNFOUQFSTPOOFMPGUIF(SPVQ 3FOUBMJODPNFSFDFJWBCMFVOEFSPQFSBUJOHMFBTFTJTSFDPHOJTFEJOUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNFPOB TUSBJHIUMJOFCBTJTPWFSUIFUFSNPGUIFMFBTF 2.17 New standards and on interpretations not yet adopted " OVNCFS PG OFX TUBOEBSET BNFOENFOUT UP TUBOEBSET BOE JOUFSQSFUBUJPOT BSF FGGFDUJWF GPS BOOVBM QFSJPET 2.13 Finance income and !nance costs CFHJOOJOHBGUFS"QSJM BOEIBWFOPUCFFOBQQMJFEJOQSFQBSJOHUIFTFýOBODJBMTUBUFNFOUT/POFPGUIFTFBSF 'JOBODFJODPNFDPNQSJTFTJOUFSFTUJODPNFPOGVOETJOWFTUFEBOEUIFýOBODFMFBTF*OUFSFTUJODPNFPOGVOET FYQFDUFEUPIBWFBTJHOJýDBOUFGGFDUPOUIFýOBODJBMTUBUFNFOUTPGUIF(SPVQ JOWFTUFEJTSFDPHOJTFEBTJUBDDSVFTJOUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNF VTJOHUIFFGGFDUJWFJOUFSFTUNFUIPE *OUFSFTUJODPNFPOUIFýOBODFMFBTFJTSFDPHOJTFEJOUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNFPWFSUIFQFSJPEPG UIFMFBTFTPBTUPFBSOBOBQQSPYJNBUFMZDPOTUBOUQFSJPEJDSBUFPGSFUVSOPOUIFSFNBJOJOHCBMBODFPGUIFýOBODF MFBTFSFDFJWBCMFTGPSFBDISFQPSUJOHQFSJPE
'JOBODFDPTUTDPNQSJTFJOUFSFTUFYQFOTFPOCPSSPXJOHT#PSSPXJOHDPTUTUIBUBSFOPUEJSFDUMZBUUSJCVUBCMFUPUIF BDRVJTJUJPO DPOTUSVDUJPOPSQSPEVDUJPOPGBRVBMJGZJOHBTTFUBSFSFDPHOJTFEJOUIFTUBUFNFOUPGDPNQSFIFOTJWF JODPNFVTJOHUIFFGGFDUJWFJOUFSFTUNFUIPE
2.14 Lease payments 1BZNFOUTNBEFVOEFSPQFSBUJOHMFBTFTBSFSFDPHOJTFEJOUIFTUBUFNFOUPGDPNQSFIFOTJWFJODPNFPOBTUSBJHIU MJOFCBTJTPWFSUIFUFSNPGUIFMFBTF-FBTFJODFOUJWFTSFDFJWFEBSFSFDPHOJTFEBTBOJOUFHSBMQBSUPGUIFUPUBMMFBTF FYQFOTF PWFSUIFUFSNPGUIFMFBTF
Determining whether an arrangement contains a lease "UJODFQUJPOPGBOBSSBOHFNFOU UIF(SPVQEFUFSNJOFTXIFUIFSTVDIBOBSSBOHFNFOUJTPSDPOUBJOTBMFBTF" TQFDJýDBTTFUJTUIFTVCKFDUPGBMFBTFJGGVMýMNFOUPGUIFBSSBOHFNFOUJTEFQFOEFOUPOUIFVTFPGUIBUTQFDJýFE BTTFU"OBSSBOHFNFOUDPOWFZTUIFSJHIUUPVTFUIFBTTFUJGUIFBSSBOHFNFOUDPOWFZTUPUIF(SPVQUIFSJHIUUP DPOUSPMUIFVTFPGUIFVOEFSMZJOHBTTFU
NTU ANNUAL REPORT 2011 84 85 NTU ANNUAL REPORT 2011 Total Total $’000 $’000 $’000 Others $’000 Others $’000 $’000 equipment equipment Transportation Transportation ce ! ce ! $’000 $’000 Furniture and of Furniture equipment and of equipment and and $’000 $’000 workshop laboratory equipment Machinery, workshop laboratory equipment Machinery, $’000 $’000 Renovation Renovation $’000 under $’000 under Buildings Buildings construction construction and and $’000 $’000 Buildings Buildings infrastructure infrastructure land land $’000 $’000 Freehold Freehold Property, Plant and Equipment Property, Plant and Equipment (cont’d) Property, Group Accumulated depreciation "U"QSJM %FQSFDJBUJPOGPSUIFZFBS %JTQPTBMT 3FDMBTTJýDBUJPOT "U.BSDI %FQSFDJBUJPOGPSUIFZFBS %JTQPTBMT 3FDMBTTJýDBUJPOT "U.BSDI Carrying amount "U"QSJM "U.BSDI "U.BSDI Group Cost "U"QSJM "EEJUJPOT "EKVTUNFOUT %JTQPTBMT 3FDMBTTJýDBUJPOT "U.BSDI "EEJUJPOT "EKVTUNFOUT %JTQPTBMT 3FDMBTTJýDBUJPOT "U.BSDI
NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI 3 3
NTU ANNUAL REPORT 2011 86 87 NTU ANNUAL REPORT 2011 Total Total $’000 $’000 $’000 Others $’000 Others $’000 $’000 equipment equipment Transportation Transportation ce ce ! ! $’000 $’000 Furniture Furniture and of and of equipment equipment and and $’000 $’000 workshop laboratory equipment workshop Machinery, laboratory equipment Machinery, $’000 $’000 Renovation Renovation $’000 under $’000 under Buildings Buildings construction construction and $’000 and $’000 Buildings Buildings infrastructure infrastructure land $’000 Freehold land $’000 Freehold Property, Plant and Equipment (cont’d) Property, %JTQPTBMT University Company Cost "U"QSJM "EEJUJPOT "EKVTUNFOUT %JTQPTBMT 3FDMBTTJýDBUJPOT "U.BSDI "EEJUJPOT "EKVTUNFOUT 3FDMBTTJýDBUJPOT "U.BSDI Property, Plant and Equipment (cont’d) Property, "U.BSDI "U.BSDI Carrying amount "U"QSJM "U.BSDI 3FDMBTTJýDBUJPOT %FQSFDJBUJPOGPSUIFZFBS %JTQPTBMT 3FDMBTTJýDBUJPOT "U.BSDI %FQSFDJBUJPOGPSUIFZFBS %JTQPTBMT University Company Accumulated depreciation "U"QSJM
NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI 3 3
NTU ANNUAL REPORT 2011 88 89 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
3 Property, Plant and Equipment (cont’d) 5 Subsidiaries (cont’d) 5IFGSFFIPMEMBOEPGUIF(SPVQBOEUIF6OJWFSTJUZ$PNQBOZXFSFTUBUFEBUWBMVBUJPODBSSJFEPVUJO%FDFNCFS Country of Ownership interest CBTFEPOWBMVFTJOBWBMVBUJPOSFQPSUGSPNUIF$PNNJTTJPOFSPG-BOET5IFSFWBMVBUJPOXBTEPOFPOBPOFPGGCBTJT incorporation 2011 2010 Name of subsidiary % % BOEBDDPSEJOHMZ UIFUSBOTJUJPOBMQSPWJTJPOJO'341SPQFSUZ 1MBOUBOE&RVJQNFOUXBTBEPQUFEUPDPOUJOVFXJUIJUT FYJTUJOHQPMJDZPGTUBUJOHUIFGSFFIPMEMBOEBUEFFNFEDPTU Held by NTU Ventures Private Limited @ $POGVDJVT*OTUJUVUF /561UF-UE 4JOHBQPSF 4 Prepaid Lease @ 5FDI#J[9DDFMFSBUPS1UF-UE 4JOHBQPSF Group and @ *OTUJUVUFPG&OWJSPONFOUBM4DJFODFBOE&OHJOFFSJOH *&4& 1UF-UE 4JOHBQPSF University Company @ 4ZTUFNFE1UF-UE GPSNFSMZ/BOPGSPOUJFS1UF-UE 4JOHBQPSF 2011 2010 @ /567*OUFSOBUJPOBM1UF-UE 4JOHBQPSF $’000 $’000 Cost @ *OUFSBDUJWF%JHJUBM.FEJB-UE 4JOHBQPSF "U.BSDI Held by NTUV International Pte Ltd Accumulated amortisation ^ /BOZBOH7FOUVSF$POTVMUJOH 4IBOHIBJ $P -UE $IJOB "U"QSJM "NPSUJTBUJPODIBSHFGPSUIFZFBS Held by IESE Pte Ltd "U.BSDI ## *&4&8BUFS "TJB 1UF-UE 4JOHBQPSF
@ Audited by KPMG LLP (with effect from the !nancial year ended 31 March 2011) Carrying amount * Audited by TeoFoongWong LC Loong, Singapore "U"QSJM ^ Audited by Jingdu Tinwha CPAs Shanghai Branch "U.BSDI # No audit is required ## De-registered with effect from 13 April 2010 5 Subsidiaries University Company 2011 2010 6 Student Loans $’000 $’000 Group and University Company 2011 2010 &RVJUZJOWFTUNFOUTBUDPTU $’000 $’000 -PBOTUPTVCTJEJBSJFT 4UVEFOUMPBOT 3FQSFTFOUFECZ 5IFMPBOTUPTVCTJEJBSJFTBSFVOTFDVSFEBOEJOUFSFTUGSFF5IFTFUUMFNFOUPGUIFBNPVOUTBSFOFJUIFSQMBOOFEOPSMJLFMZ "NPVOUSFQBZBCMFXJUIJONPOUIT UPPDDVSJOUIFGPSFTFFBCMFGVUVSF"TUIFBNPVOUTBSF JOTVCTUBODF BQBSUPGUIF6OJWFSTJUZ$PNQBOZTOFUJOWFTUNFOU "NPVOUSFQBZBCMFBGUFSNPOUIT JOUIFTVCTJEJBSJFT UIFZBSFTUBUFEBUDPTUMFTTJNQBJSNFOUMPTTFT %FUBJMTPGTVCTJEJBSJFTBSFBTGPMMPXT *ODMVEFEJOTUVEFOUMPBOTBSFQFSTPOBMDPNQVUFSMPBOTPG XIJDIBSFJOUFSFTUGSFF Country of Ownership interest BOEBSFSFQBZBCMFCZNPOUIMZJOTUBMNFOUTXJUIJOBQFSJPEPGZFBSTBGUFSUIFCPSSPXFSTHSBEVBUJPO5IFGBJSWBMVF incorporation 2011 2010 Name of subsidiary % % BUJODFQUJPOXBTEFUFSNJOFECBTFEPOFYQFDUFEGVUVSFQSJODJQBMSFQBZNFOUDBTIþPXT EJTDPVOUFEBUUIFBWFSBHF JOUFSFTUSBUFPG QFSBOOVN5IFTFMPBOTBSFTVCTFRVFOUMZNFBTVSFEBUBNPSUJTFEDPTU VTJOHUIF Held by the University Company FGGFDUJWFJOUFSFTUNFUIPE @ /567FOUVSFT1SJWBUF-JNJUFE 4JOHBQPSF @ 4JOHBQPSF$FOUSFGPS$IJOFTF-BOHVBHF-JNJUFE 4JOHBQPSF * /*&*OUFSOBUJPOBM1SJWBUF-JNJUFE 4JOHBQPSF # 'SJFOETPG/56 6OJUFE4UBUFT
NTU ANNUAL REPORT 2011 90 91 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
7 Finance Lease Receivables 9 Loan to a Subsidiary Group and 5IFMPBOUPBTVCTJEJBSZJTVOTFDVSFE JOUFSFTUGSFFBOESFQBZBCMFPOEFNBOE University Company 2011 2010 $’000 $’000 10 Trade and Other Receivables
Group University Company (SPTTSFDFJWBCMFTEVF 2011 2010 2011 2010 /PUMBUFSUIBOPOFZFBS Note $’000 $’000 $’000 $’000 #FUXFFOUXPUPýWFZFBST -BUFSUIBOýWFZFBST 5SBEFSFDFJWBCMFT "MMPXBODFGPSEPVCUGVMSFDFJWBCMFT -FTT6OFBSOFEJOUFSFTU /FUJOWFTUNFOUJOýOBODFMFBTF *OUFSFTUSFDFJWBCMFT 0QFSBUJOHHSBOUSFDFJWBCMFT 5IFOFUJOWFTUNFOUJOýOBODFMFBTFSFDFJWBCMFTBSFBOBMZTFEBTGPMMPXT 3FTFBSDIHSBOUSFDFJWBCMFT
Group and &OEPXNFOUNBUDIJOHHSBOUSFDFJWBCMFT University Company (SBOUTSFDFJWBCMFT 2011 2010 0UIFSSFDFJWBCMFT $’000 $’000 "NPVOUTEVFGSPNTVCTJEJBSJFT USBEF "MMPXBODFGPSEPVCUGVMSFDFJWBCMFT $VSSFOU /PODVSSFOU "NPVOUTEVFGSPNTVCTJEJBSJFT OPOUSBEF "MMPXBODFGPSEPVCUGVMSFDFJWBCMFT 5IJTSFMBUFTUPUIFMFBTFPGMBOEBOECVJMEJOHUP/56"MVNOJ$MVCPWFSBMFBTFQFSJPEPGøZFBST -PBOTBOESFDFJWBCMFT 8 Derivative Financial Instruments 1SFQBZNFOUT 5IFUBCMFCFMPXTFUTPVUUIFOPUJPOBMQSJODJQBMBNPVOUTBOEUIFQPTJUJWFBOEOFHBUJWFGBJSWBMVFTPGUIF(SPVQBOE 6OJWFSTJUZ$PNQBOZTPVUTUBOEJOHEFSJWBUJWFý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ontractual maturity Carrying amount Within Derivative Derivative UIFTFGBDUPST NBOBHFNFOUCFMJFWFTUIBUOPBEEJUJPOBMDSFEJUSJTLCFZPOEBNPVOUTQSPWJEFEGPSDPMMFDUJPOMPTTFTJT 1 year Total asset liabilities JOIFSFOUJOUIF(SPVQTUSBEFSFDFJWBCMFT $’000 $’000 $’000 $’000 $SFEJUSJTLGPSPUIFSSFDFJWBCMFTJODMVEJOHUIFWBSJPVTHSBOUSFDFJWBCMFTJTMJNJUFEBTUIFTFSFMBUFNBJOMZUPSFDFJWBCMFTGSPN Group and University Company UIF.JOJTUSZ
2011 'PSFJHODVSSFODZGPSXBSET
2010 'PSFJHODVSSFODZGPSXBSET
5IFGBJSWBMVFPGGPSXBSEFYDIBOHFDPOUSBDUTJTFTUJNBUFECZEJTDPVOUJOHUIFEJGGFSFODFCFUXFFOUIFDPOUSBDUVBMGPSXBSE QSJDFBOEUIFDVSSFOUGPSXBSEQSJDFGPSUIFSFTJEVBMQFSJPEUPNBUVSJUZPGUIFDPOUSBDU
NTU ANNUAL REPORT 2011 92 93 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
11 Financial Assets at Fair Value through Income and Expenditure 12 Cash and Cash Equivalents Group University Company Group and 2011 2010 2011 2010 University Company Note $’000 $’000 $’000 $’000 2011 2010 $’000 $’000 Investments 'JYFEJODPNFJOWFTUNFOUT $BTIBUCBOLBOEJOIBOE 2VPUFEFRVJUZJOWFTUNFOUT %FQPTJUXJUIýOBODJBMJOTUJUVUJPOT 6ORVPUFEFRVJUZJOWFTUNFOUT 0UIFSJOWFTUNFOUT "EE$BTIIFMECZGVOENBOBHFST Others 5IF(SPVQBOE6OJWFSTJUZ$PNQBOZTJOWFTUNFOUTBSFNBOBHFECZQSPGFTTJPOBMGVOENBOBHFST5IFGBJSWBMVFTPGUIF $BTIBUCBOLBOEJOIBOE ýOBODJBMJOTUSVNFOUTUSBEFEJOBDUJWFNBSLFUT TVDIBTFYDIBOHFUSBEFEBOEPWFSUIFDPVOUFSTFDVSJUJFTBOEEFSJWBUJWFT %FQPTJUXJUIýOBODJBMJOTUJUVUJPOT BSFCBTFEPORVPUFENBSLFUQSJDFTBUUIFCBMBODFTIFFUEBUF5IFJOWFTUNFOUTJOVORVPUFEFRVJUJFTSFQSFTFOUJOWFTUNFOUT JOQSJWBUFFRVJUZGVOET IFEHFGVOET MJNJUFEQBSUOFSTIJQTBOEQPPMFEWFIJDMFT5IFGBJSWBMVFTPGUIFTFVORVPUFEFRVJUZ $BTIBOEDBTIFRVJWBMFOUT JOWFTUNFOUTBSFCBTFEPOOFUBTTFUWBMVFTQSPWJEFECZGVOENBOBHFSTVTJOHUIFJSWBMVBUJPONFUIPEPMPHJFT 5IF6OJWFSTJUZ$PNQBOZNBOBHFTCBOLBDDPVOUTPOCFIBMGPGUIF/564UVEFOUT6OJPO"TBUCBMBODFTIFFUEBUF 5IF(SPVQBOE6OJWFSTJUZ$PNQBOZTJOWFTUNFOUTDPNQSJTFýOBODJBMJOTUSVNFOUT ýYFEJODPNF RVPUFEFRVJUZ VORVPUFE UIFCBOLCBMBODFPG IBTOPUCFFOJODMVEFEJOUIFDBTIBOEDBTIFRVJWBMFOUTPGUIF FRVJUZBOEPUIFSJOWFTUNFOUT NBOBHFECZQSPGFTTJPOBMGVOENBOBHFSTBOEDBTICBMBODFTBOECBOLEFQPTJUTBTGPMMPXT 6OJWFSTJUZ$PNQBOZ
Group and University Company 13 Trade and Other Payables 2011 2010 Group University Company Note $’000 $’000 2011 2010 2011 2010 Note $’000 $’000 $’000 $’000 'JOBODJBMBTTFUTBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSF $BTICBMBODFTBOECBOLEFQPTJUT 1SPWJTJPOGPSVOVUJMJTFEDPNQFOTBUFEMFBWF 0UIFSQBZBCMFTBOEBDDSVBMT B 5IFDBTICBMBODFTBOECBOLEFQPTJUTBSFJODMVEFEBTBDPNQPOFOUJOUIFDBTIBOEDBTIFRVJWBMFOUTJOOPUFGPSUIF QVSQPTFPGEJTDMPTVSF B 5IJT BNPVOU JODMVEFT UIF QSPWJTJPO GPS VOEFSHSBEVBUF GVOEJOH PG 1SPWJTJPO GPS VOEFSHSBEVBUF GVOEJOH SFMBUFT UP UIF BEKVTUNFOU UP UIF VOEFSHSBEVBUF PVUQVU GVOEJOH GSPN UIF .JOJTUSZ PG 5IFXFJHIUFEBWFSBHFJOUFSFTUSBUFTPGýYFEJODPNFTFDVSJUJFTBUUIFCBMBODFTIFFUEBUFBOEUIFQFSJPETJOXIJDIUIFZ &EVDBUJPO i.0&w JO UIF FWFOU UIF 6OJWFSTJUZ BDIJFWFT GFXFS VOEFSHSBEVBUFT UIBO .0&TPVUQVU UBSHFU 5IF NBUVSF BSFBTGPMMPXT QSPWJTJPOJTCBTFEPOUIF6OJWFSTJUZTBDUVBMBOEQSPKFDUFEOVNCFSPGVOEFSHSBEVBUFT
Fixed interest rate maturing 5IFNPWFNFOUJOUIFQSPWJTJPOPGVOEFSHSBEVBUFGVOEJOHJTBTGPMMPXT Effective Within In 1 to 5 After interest rate 1 year years 5 years Total Group University Company % p.a. $’000 $’000 $’000 $’000 2011 2010 2011 2010 $’000 $’000 $’000 $’000 Group and University Company "U"QSJM 2011 o 1SPWJTJPONBEFEVSJOHUIFZFBS 1SPWJTJPOSFWFSTFEEVSJOHUIFZFBS 2010 o "U.BSDI
NTU ANNUAL REPORT 2011 94 95 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
14 Operating Grant Received in Advance 16 Short-term Borrowings Group 5IFCPSSPXJOHTBSFVOTFDVSFE CFBSJOUFSFTUBU QFSBOOVNBOEBSFSFQBZBCMFXJUIJOUIFOFYUUXFMWF 2011 2010 NPOUITGSPNUIFýOBODJBMZFBSFOE $’000 $’000
"U"QSJM 17 Research Grants Received in Advance (SBOUTSFDFJWFEEVSJOHUIFZFBS Group University Company 2011 2010 2011 2010 Note $’000 $’000 $’000 $’000 -FTT "NPVOUTUBLFOUPTUBUFNFOUPGDPNQSFIFOTJWFJODPNF "U"QSJM "NPVOUTUSBOTGFSSFEUPEFGFSSFEDBQJUBMHSBOUT (SBOUTSFDFJWFEEVSJOHUIFZFBS "U.BSDI -FTT 5IJT SFMBUFT UP HSBOUT SFDFJWFE GSPN UIF .JOJTUSZ UP ýOBODF UIF TVCTJEJBSZTPQFSBUJPOT 5IF CBMBODF JO UIJT BDDPVOU "NPVOUTUSBOTGFSSFEUPEFGFSSFEDBQJUBMHSBOUT OPUF SFQSFTFOUTHSBOUSFDFJWFECVUOPUVUJMJTFEBUUIFFOEPGUIFýOBODJBMZFBS "NPVOUTUBLFOUPTUBUFNFOUPGDPNQSFIFOTJWFJODPNF "NPVOUTSFGVOEFEUPUIF.JOJTUSZ PUIFSNJOJTUSJFTBOE 15 Grants Receivable/IT and F&E Grants/Sinking Fund Received in Advance TUBUVUPSZCPBSET Group University Company "NPVOUTUSBOTGFSSFEUPHSBOUSFDFJWBCMFT 2011 2010 2011 2010 Note $’000 $’000 $’000 $’000 "U.BSDI
5IFTFBSFHSBOUTSFDFJWFEGSPNUIFNJOJTUSJFT TUBUVUPSZCPBSET " 4UBSBOEPUIFSTPVSDFTGPSSFTFBSDIBDUJWJUJFT5IF (SBOUTSFDFJWBCMFXJUIJONPOUIT %FWFMPQNFOUHSBOU CBMBODFJOUIJTBDDPVOUSFQSFTFOUTHSBOUTSFDFJWFECVUOPUVUJMJTFEBUUIFFOEPGUIFýOBODJBMZFBS5IFTFHSBOUTBSF *5BOE'&HSBOU SFQBZBCMFPOEFNBOE 4JOLJOHGVOE *5BOE'&HSBOUSFDFJWFEJOBEWBODF B 4JOLJOHGVOESFDFJWFEJOBEWBODF C
.PWFNFOUTJOHSBOUT SFDFJWFEJO BEWBODF SFDFJWBCMF
"U"QSJM (SBOUTSFDFJWFEEVSJOHUIFZFBS -FTT "NPVOUTUSBOTGFSSFEUPEFGFSSFEDBQJUBMHSBOUT "NPVOUTUBLFOUPTUBUFNFOUPGDPNQSFIFOTJWF JODPNF "U.BSDI
5IFTFBSFHSBOUTGSPNUIF.JOJTUSZGPSýOBODJOHEFWFMPQNFOUQSPKFDUT
B 5IJTBNPVOUSFMBUFTUPHSBOUTSFDFJWFEJOBEWBODFGPSUIFQVSDIBTFPG*5BOE'&JUFNTUPTVQQPSUUFBDIJOHBOE BENJOJTUSBUJWFGVODUJPOT
C 5IJTBNPVOUSFMBUFTUPBTJOLJOHGVOESFDFJWFEJOBEWBODFGSPNUIF.JOJTUSZGPSUIFQVSQPTFPGNBJOUFOBODFBOE SFQMBDFNFOUPGQSPQFSUZ QMBOUBOEFRVJQNFOU
NTU ANNUAL REPORT 2011 96 97 NTU ANNUAL REPORT 2011 2010 2010 $’000 $’000 Total Total 2011 2011 $’000 $’000 2010 2010 $’000 $’000 Others Others 2011 $’000 2011 $’000 8 8 2010 2010 $’000 $’000 Statutory boards Statutory boards 2011 $’000 2011 $’000 7 7 2010 $’000 2010 $’000 Ministries Ministries 2011 2011 $’000 $’000 EFWFMPQNFOUQSPKFDUUSBOTGFSSFEGSPN 0QFSBUJOHHSBOUT OPUF 3FTFBSDIHSBOUT OPUF %FWFMPQNFOUHSBOUT OPUF "DDVNVMBUFETVSQMVT 0UIFSHSBOUT EFWFMPQNFOUQSPKFDUUSBOTGFSSFEGSPN 0QFSBUJOHHSBOUT 3FTFBSDIHSBOUT OPUF %FWFMPQNFOUHSBOUT OPUF "DDVNVMBUFETVSQMVT 0UIFSHSBOUT Deferred Capital Grants Deferred %FGFSSFEDBQJUBMHSBOUTBNPSUJTFE OPONJOJTUSZ SFGFSTUPBNPSUJTBUJPOPGHSBOUTSFDFJWFEGSPNTUBUVUPSZCPBSETBOEPUIFSPSHBOJTBUJPOT Group "U"QSJM "EE (SBOUTSFDFJWFEGPSDBQJUBMFYQFOEJUVSFBOE "TTFUTEPOBUFECZWBSJPVTPSHBOJTBUJPOT "EKVTUNFOUT3FDMBTTJýDBUJPOT -FTT (SBOUTUBLFOUPTUBUFNFOUPGDPNQSFIFOTJWFJODPNF "NPSUJTBUJPODIBSHFGPSUIFZFBS 0OEJTQPTBMPGýYFEBTTFUT "EKVTUNFOUT3FDMBTTJýDBUJPOT "U.BSDI Deferred Capital Grants (cont’d) Deferred University Company "U"QSJM "EE (SBOUTSFDFJWFEGPSDBQJUBMFYQFOEJUVSFBOE "TTFUTEPOBUFECZWBSJPVTPSHBOJTBUJPOT "EKVTUNFOUT3FDMBTTJýDBUJPOT -FTT (SBOUTUBLFOUPTUBUFNFOUPGDPNQSFIFOTJWFJODPNF "NPSUJTBUJPODIBSHFGPSUIFZFBS 0OEJTQPTBMPGýYFEBTTFUT "EKVTUNFOUT3FDMBTTJýDBUJPOT "U.BSDI
NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI 18 18
NTU ANNUAL REPORT 2011 98 99 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
19 Capital Account 22 Interest Income 5IFDBQJUBMBDDPVOUSFQSFTFOUTUIFSFWBMVBUJPOPGUIFGSFFIPMEMBOEBMJFOBUFEUP/BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ EFUBJMT Group BSFTFUPVUJOOPUF 2011 2010 $’000 $’000
20 Endowment Fund *OUFSFTUSFDFJWFESFDFJWBCMF 5IFGVOEDPNQSJTFTEPOBUJPOT HSBOUT HJGUT UFTUBNFOUBSZEJTQPTJUJPOBOEQSPDFFETGSPNHJGUTPGNPWBCMFPSJNNPWBCMF ýYFEEFQPTJUT QMBDFEXJUIýOBODJBMJOTUJUVUJPOT QSPQFSUJFT5IFPCKFDUJWFTPGUIJTGVOEJODMVEFUIFQSPWJTJPOPGGBDJMJUJFTGPSUFBDIJOH USBJOJOHBOESFTFBSDI UIFBEWBODFNFOU CBOLCBMBODFT BOEEJTTFNJOBUJPOPGLOPXMFEHFBOEUIFQSPNPUJPOPGSFTFBSDI ýOBODFMFBTFT 5IF(PWFSONFOUIBTVOEFSUBLFOUPNBUDIBMMEPOBUJPOTUPUIF/BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ&OEPXNFOU'VOE 4VDIHPWFSONFOUHSBOUTBSFBDDPVOUFEGPSPOBOBDDSVBMCBTJT 23 Pro!t on Investments Group 21 Funds Managed on Behalf of the Ministry 2011 2010 1VSTVBOUUPUIF5VJUJPO'FF-PBO 5'- 4UVEZ-PBO 4- BOE0WFSTFBT4UVEFOU1SPHSBN-PBOGVOEFECZ.0& $’000 $’000 041 TDIFNFT UIF6OJWFSTJUZ$PNQBOZBDUTBTBHFOUGPSUIFTFMPBOTTDIFNFTBOEUIF.JOJTUSZBTUIFýOBODJFSQSPWJEJOH UIFBEWBODFT *OUFSFTUJODPNF %JWJEFOEJODPNF Group and University Company 'BJSWBMVFHBJOPOýOBODJBMBTTFUTUISPVHIJODPNFBOEFYQFOEJUVSF 2011 2010 'BJSWBMVFHBJOPOEFSJWBUJWFýOBODJBMJOTUSVNFOUT $’000 $’000 "EWBODFTGSPNUIF.JOJTUSZ "U"QSJM 24 De!cit Before Grants from Ministries "EWBODFTSFDFJWFE 5IFGPMMPXJOHJUFNTIBWFCFFOJODMVEFEJOBSSJWJOHBUEFýDJUCFGPSFHSBOUTGSPNNJOJTUSJFT *OUFSFTUJODPNF Group "EWBODFTSFQBJE 2011 2010 #BEEFCUT JODVSSFE SFDPWFSFE $’000 $’000 *OUFSFTUFYQFOTF "MMPXBODFGPSEPVCUGVMSFDFJWBCMFT 3FQSFTFOUFECZ &YDIBOHFMPTT $BTIBOECBOLCBMBODFTIFMEPO QBJEPO CFIBMG 0QFSBUJOHMFBTFFYQFOTF 5'- 4-BOE041 $POUSJCVUJPOUPEFýOFEDPOUSJCVUJPOQMBOTJODMVEFEJOFYQFOEJUVSFPONBOQPXFS /FUBTTFUT (PWFSONFOUHSBOUTo+PC$SFEJU4DIFNF PGGTFUBHBJOTUTUBGGDPTUT
$BTIBOECBOLCBMBODFTPG BSFIFMEPOCFIBMGPGUIF.JOJTUSZJOXIJMF XBTQBJEPOCFIBMG 25 Operating Grants from Ministry PGUIF.JOJTUSZJOGPSUIFQVSQPTFPGFYUFOEJOHTUVEZMPBOTUPTUVEFOUT Group Note 2011 2010 4UVEFOUTPO5'- 4-BOE041BSFUPDPNNFODFSFQBZNFOUVQPOHSBEVBUJPO4UVEFOUTBSFHJWFOBOPQUJPOUPSFQBZCZ $’000 $’000 NPOUIMZJOTUBMNFOUTPGNJOJNVNBNPVOUPGPWFSBQFSJPEPGVQUPZFBST GPS5'-BOE4- BOEZFBST GPS041 0QFSBUJOHHSBOUTSFDFJWFEBOESFDFJWBCMFEVSJOHUIFZFBS BGUFSUIFCPSSPXFSTHSBEVBUJPO*OUFSFTUJTDIBSHFEBUUIFBWFSBHFQSJNFSBUFTPGUISFFMPDBMCBOLTQSFWBJMJOHPOUIFýSTU 1BZNFOUGPSHPPETBOETFSWJDFTUBYPOUVJUJPOGFFTBOEUVJUJPOHSBOUT EBZPGFBDIRVBSUFS PSTVDIPUIFSSBUFTBTNBZCFEFUFSNJOFEGSPNUJNFUPUJNF*OUFSFTUDIBSHFEJOJT "NPVOUTUSBOTGFSSFEUP QFSBOOVN EFGFSSFEDBQJUBMHSBOUT 5IFJOUFSFTUPOUIF5'- 4-BOE041JTSFNJUUFEJOGVMMUPUIF.JOJTUSZPOBIBMGZFBSMZCBTJT HSBOUSFDFJWFEJOBEWBODF 1SPWJTJPOGPSBUUSJUJPO 0QFSBUJOHHSBOUTUBLFOUPTUBUFNFOUPGDPNQSFIFOTJWFJODPNF
NTU ANNUAL REPORT 2011 100 101 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
26 Taxation 27 Commitments (cont’d) 5IF6OJWFSTJUZ$PNQBOZJTSFHJTUFSFEBTBDIBSJUBCMFJOTUJUVUJPOCZWJSUVFPG4FDUJPO. C PGUIF*ODPNF5BY"DU Capital commitments $IBQUFS 2011 2010 5IFTVCTJEJBSJFTPGUIF(SPVQIBWFVOVUJMJTFEDBQJUBMBMMPXBODFTBOEVOBCTPSCFEUBYMPTTFTPGBQQSPYJNBUFMZ $’000 $’000 BOE SFTQFDUJWFMZXIJDIBSFBWBJMBCMFGPSPGGTFUBHBJOTUGVUVSFUBYBCMF $POUSBDUFECVUOPUQSPWJEFEGPS JODPNF%FGFSSFEUBYBTTFUTIBWFOPUCFFOSFDPHOJTFEJOSFTQFDUPGUIFTFJUFNTCFDBVTFJUJTOPUQSPCBCMFUIBUGVUVSF "VUIPSJTFECVUOPUDPOUSBDUFEGPS UBYBCMFQSPýUXJMMCFBWBJMBCMFBHBJOTUXIJDIUIFTVCTJEJBSJFTDBOVUJMJTFUIFCFOFýU
5IFVOBCTPSCFEUBYMPTTFTBOEVOVUJMJTFEDBQJUBMBMMPXBODFTPGUIFTVCTJEJBSJFTBSFTVCKFDUUPBHSFFNFOUCZUIFUBY 5IFDBQJUBMDPNNJUNFOUTBSFGVOEFEGSPNHSBOUTGSPNNJOJTUSJFT TVCKFDUUPTBUJTGZJOHDFSUBJOUFSNTBOEDPOEJUJPOT BVUIPSJUJFTBOEDPNQMJBODFXJUIUIFUBYSFHVMBUJPOTJOUIFSFTQFDUJWFDPVOUSJFTJOXIJDIDFSUBJOTVCTJEJBSJFTPQFSBUF 2011 2010 5IFTFUFNQPSBSZEJGGFSFODFTEPOPUFYQJSFVOEFSDVSSFOUUBYMFHJTMBUJPO $’000 $’000
Group 1VSDIBTFPGVORVPUFEFRVJUZJOWFTUNFOUT 2011 2010 DPOUSBDUFECVUOPUQSPWJEFEGPS $’000 $’000 Joint Program in Hospitality Management with Cornell University Current tax expense 6OEFSUIFBHSFFNFOUXJUI$PSOFMM6OJWFSTJUZ /BOZBOH5FDIOPMPHJDBM6OJWFSTJUZ /56 XJMMFTUBCMJTIBKPJOUQSPHSBNJO $VSSFOUZFBS IPTQJUBMJUZNBOBHFNFOUXJUI$PSOFMM6OJWFSTJUZUISPVHIUIF$PSOFMM/BOZBOH*OTUJUVUFPG)PTQJUBMJUZ.BOBHFNFOU $/* 5IF $/* QSPHSBNT JODMVEF EFHSFF BOE OPOEFHSFF QSPHSBNT TIPSU DPVSTFT SFTFBSDI BOE PUIFS SFMBUFE BDBEFNJD Reconciliation of effective tax BDUJWJUJFT/56IBTQSPWJEFEB4UBOECZ-FUUFSPG$SFEJUPG64%NJMMJPOSFOFXBCMFVQUP+VOFUPDPWFSUVJUJPO GFFTBOESFJNCVSTBCMFFYQFOTFTEVFUP$PSOFMM6OJWFSTJUZ 4VSQMVTCFGPSFJODPNFUBY Agreements entered into with Massachusetts Institute of Technology (MIT) and the National University of Singapore (NUS) *ODPNFUBYVTJOH4JOHBQPSFUBYSBUFTPG *ODPNFOPUTVCKFDUUPUBY 5IF6OJWFSTJUZ$PNQBOZIBTFOUFSFEJOUPB4JOHBQPSF.*5"MMJBODF 4." BHSFFNFOUXJUI.*5BOE/64UPFTUBCMJTI DPMMBCPSBUJWFFGGPSUTJOSFTFBSDIBOEFEVDBUJPOJOFOHJOFFSJOH TDJFODFBOEUFDIOPMPHZ JODMVEJOHJOUFSGBDFXJUICVTJOFTT BOEJOEVTUSZ5IFBHSFFNFOUXBTFGGFDUJWFGSPN4FQUFNCFSBOEBTBU.BSDI /56TPVUTUBOEJOH 27 Commitments DPNNJUNFOUVOEFS4."JTFTUJNBUFEBU64%NJMMJPO 64%NJMMJPO UJMMUIFFYQJSZPGUIFBHSFFNFOU Operating lease commitments Collaboration with Stanford University 5IFGVUVSFMFBTFQBZNFOUTDPOUSBDUFEBUUIFSFQPSUJOHEBUFCVUOPUSFDPHOJTFEBTMJBCJMJUJFTBSFBOBMZTFEBTGPMMPXT 5IF6OJWFSTJUZ$PNQBOZBOE4UBOGPSE6OJWFSTJUZIBWFFOUFSFEJOUPBDPMMBCPSBUJWF4JOHBQPSF4UBOGPSE1BSUOFSTIJQ 441
2011 2010 QSPHSBNGPSUIFEFWFMPQNFOUPGQPTUHSBEVBUFFEVDBUJPOBOESFTFBSDIJOFOWJSPONFOUBMTDJFODFBOEFOHJOFFSJOH5IF $’000 $’000 441QSPHSBNXJMMPGGFS.BTUFSPG4DJFODFBOE%PDUPSPG1IJMPTPQIZEFHSFFTJOFOWJSPONFOUBMTDJFODFBOEFOHJOFFSJOH XIFSFCZTUVEFOUTXJMMCFJOUFHSBUFEJOUPUIF4UBOGPSEFYQFSJFODF"TBU.BSDI /56TPVUTUBOEJOHDPNNJUNFOUT /PUMBUFSUIBOPOFZFBS VOEFSUIFQSPHSBNBSFFTUJNBUFEBU64%NJMMJPO 64%NJMMJPO -BUFSUIBOPOFZFBSCVUOPUMBUFSUIBOýWFZFBST Collaboration with Imperial College of Science, Technology and Medicine 5IF(SPVQBOEUIF6OJWFSTJUZ$PNQBOZMFBTFTQFSTPOBMDPNQVUFSTBOETFSWFSTVOEFSPQFSBUJOHMFBTFT5IFMFBTFT 0O"VHVTU UIF6OJWFSTJUZ$PNQBOZBOE*NQFSJBM$PMMFHFPG4DJFODF 5FDIOPMPHZBOE.FEJDJOFFOUFSFEJOUP UZQJDBMMZSVOGPSBQFSJPEPGZFBST BOBHSFFNFOUJOSFMBUJPOUPBDPMMBCPSBUJPOGPSUIFFTUBCMJTINFOUBOEPQFSBUJPOPGBNFEJDBMTDIPPMJO4JOHBQPSF"T BU.BSDI /56TPVUTUBOEJOHDPNNJUNFOUVOEFSUIFDPMMBCPSBUJPOJTFTUJNBUFEBUbNJMMJPOUJMMUIFFYQJSZ 4JODF UIF (SPVQ EPFT OPU QBSUJDJQBUF JO UIF SFTJEVBM WBMVF PG UIF DPNQVUFST BOE TFSWFST JU XBT EFUFSNJOFE UIBU PGUIFBHSFFNFOU TVCTUBOUJBMMZBMMUIFSJTLTBOESFXBSETPGUIFDPNQVUFSTBSFXJUIUIFTVQQMJFST"TTVDI UIF(SPVQEFUFSNJOFEUIBUUIF MFBTFTBSFPQFSBUJOHMFBTFT 28 Signi!cant Related Party Information Related party transactions 'PS UIF QVSQPTFT PG UIFTF ýOBODJBM TUBUFNFOUT QBSUJFT BSF DPOTJEFSFE UP CF SFMBUFE UP UIF (SPVQ JG UIF (SPVQ IBT UIFBCJMJUZ EJSFDUMZPSJOEJSFDUMZ UPDPOUSPMUIFQBSUZPSFYFSDJTFTJHOJýDBOUJOþVFODFPWFSUIFQBSUZJONBLJOHýOBODJBM BOEPQFSBUJOHEFDJTJPOT PSWJDFWFSTB PSXIFSFUIF(SPVQBOEUIFQBSUZBSFTVCKFDUUPDPNNPODPOUSPMPSDPNNPO TJHOJýDBOUJOþVFODF3FMBUFEQBSUJFTNBZCFJOEJWJEVBMTPSPUIFSFOUJUJFT
NTU ANNUAL REPORT 2011 102 103 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
28 Signi!cant Related Party Information (cont’d) 29 Financial Instruments (cont’d) Related party transactions (cont’d) Credit risk (cont’d) 0UIFSUIBOEJTDMPTFEFMTFXIFSFJOUIFýOBODJBMTUBUFNFOUT UIF(SPVQIBEUIFGPMMPXJOHTJHOJýDBOUUSBOTBDUJPOTXJUI #BTFEPOIJTUPSJDBMEFGBVMUSBUFT UIF(SPVQCFMJFWFTUIBUOPBMMPXBODFGPSEPVCUGVMSFDFJWBCMFTJTOFDFTTBSZJOSFTQFDUPG SFMBUFEQBSUJFTEVSJOHUIFZFBSPOUFSNTBHSFFECFUXFFOUIFQBSUJFTBTGPMMPXT MPBOTBOESFDFJWBCMFTOPUQBTUEVF5IFTFMPBOTBOESFDFJWBCMFTBSFEVFGSPNDVTUPNFSTUIBUIBWFBHPPESFDPSEXJUI UIF(SPVQ 2011 2010 $’000 $’000 Liquidity risk 5IFDPOUSBDUFEVOEJTDPVOUFEDBTIPVUþPXTPOýOBODJBMMJBCJMJUJFTBQQSPYJNBUFUIFJSDBSSZJOHBNPVOUTBOEHFOFSBMMZTFUUMF Related parties XJUIJOPOFZFBS 1VSDIBTFPGHPPETBOETFSWJDFT 4BMFPGTFSWJDFT Interest risk 4VSQMVTGVOETGSPNUIF(SPVQTPQFSBUJPOTBSFJOWFTUFEJOCBOLEFQPTJUTBOEXJUIGVOENBOBHFST5IF(SPVQIBTOP Key management personnel compensation NBUFSJBMFYQPTVSFUPJOUFSFTUSBUFSJTLGSPNýYFEEFQPTJUTBOECPSSPXJOHTBTUIFJOUFSFTUSBUFTBSFPOBýYFESBUFCBTJT 4IPSUUFSNFNQMPZFFCFOFýUT 5IF(SPVQTJOWFTUNFOUTJOýYFEJODPNFTFDVSJUJFTUIBUBSFNBOBHFECZGVOENBOBHFST DMBTTJýFEBTýOBODJBMBTTFUTBU GBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSF BSFFYQPTFEUPJOUFSFTUSBUFSJTL
29 Financial Instruments Sensitivity analysis for interest risk Credit risk *G NPWFNFOUT JO JOUFSFTU SBUFT SFTVMU JO B BQQSFDJBUJPOEFQSFDJBUJPO JO UIF WBMVF PG UIF ýYFE JODPNF 5IFDBSSZJOHBNPVOUPGýOBODJBMBTTFUTSFQSFTFOUTUIFNBYJNVNDSFEJUFYQPTVSF"UUIFCBMBODFTIFFUEBUF UIFSFJTOP JOWFTUNFOUT BMMPUIFSWBSJBCMFTCFJOHIFMEDPOTUBOU UIF(SPVQTTVSQMVTXPVMEIBWFCFFOIJHIFSMPXFSCZ TJHOJýDBOUDPODFOUSBUJPOPGDSFEJUSJTLPUIFSUIBOHSBOUSFDFJWBCMFT 5IFBHJOHPGMPBOTBOESFDFJWBCMFTBUUIFSFQPSUJOHEBUFJT Price risk 2011 2010 5IF(SPVQJTFYQPTFEUPFRVJUZTFDVSJUJFTQSJDFSJTLGSPNJOWFTUNFOUTDMBTTJýFEBTýOBODJBMBTTFUTBUGBJSWBMVFUISPVHI Allowance Allowance JODPNFBOEFYQFOEJUVSFBOEBWBJMBCMFGPSTBMFýOBODJBMBTTFUT5IFNBSLFUWBMVFTPGUIFTFJOWFTUNFOUTBSFBGGFDUFECZ for doubtful for doubtful Gross receivables Gross receivables BNPOHTUPUIFST DIBOHFTJONBSLFUQSJDFTBTBSFTVMUPGDIBOHFTJOUIFHMPCBMFDPOPNJDDPOEJUJPOT NBDSPBOENJDSP $’000 $’000 $’000 $’000 FDPOPNJDGBDUPSTBGGFDUJOHUIFDPVOUSZXIFSFUIFJOWFTUNFOUTBSFRVPUFE BOEGBDUPSTTQFDJýDUPUIFJOWFTUFFDPSQPSBUJPOT
5PNBOBHFUIFQSJDFSJTLBSJTJOHGSPNJOWFTUNFOUJOFRVJUZTFDVSJUJFT UIF(SPVQEJWFSTJýFTJUTQPSUGPMJPBDSPTTEJGGFSFOU Group NBSLFUTBOEJOEVTUSJFTXIFOFWFSJUJTBQQSPQSJBUF /PUQBTUEVF 1BTUEVFoEBZT Sensitivity analysis for price risk 1BTUEVFoEBZT *GNPWFNFOUTJOýOBODJBMNBSLFUTSFTVMUJOB BQQSFDJBUJPOEFQSFDJBUJPOJOUIFWBMVFPGUIFRVPUFEFRVJUZ .PSFUIBOEBZT BOEPUIFSJOWFTUNFOUT BMMPUIFSWBSJBCMFTCFJOHIFMEDPOTUBOU UIF(SPVQTTVSQMVTXPVMEIBWFCFFOIJHIFSMPXFSCZ University Company *GNPWFNFOUTJOýOBODJBMNBSLFUTSFTVMUJOB BQQSFDJBUJPOEFQSFDJBUJPOJOUIFWBMVFPGUIFVORVPUFEFRVJUZ /PUQBTUEVF JOWFTUNFOUT BMMPUIFSWBSJBCMFTCFJOHIFMEDPOTUBOU UIF(SPVQTTVSQMVTXPVMEIBWFCFFOIJHIFSMPXFSCZ 1BTUEVFoEBZT 1BTUEVFoEBZT .PSFUIBOEBZT Foreign currency risk 5IF (SPVQT JOWFTUNFOUT XIJDI BSF NBOBHFE CZ GVOE NBOBHFST NBZ CF JO JOTUSVNFOUT EFOPNJOBUFE JO GPSFJHO DVSSFODJFT$VSSFODZFYQPTVSFBSJTJOHGSPNTVDIJOWFTUNFOUTJTNBOBHFECZGVOENBOBHFST"EEJUJPOBMJOGPSNBUJPOJT 5IFNPWFNFOUJOUIFBMMPXBODFGPSEPVCUGVMSFDFJWBCMFTJOSFTQFDUPGMPBOTBOESFDFJWBCMFTEVSJOHUIFZFBSJTBTGPMMPXT TFUPVUJOOPUF Group University Company 2011 2010 2011 2010 5IFNBJOGPSFJHODVSSFODZFYQPTVSFPGJOWFTUNFOUT OFUPGGPSFJHODVSSFODZGPSXBSET CBTFEPOJOGPSNBUJPOQSPWJEFEUP $’000 $’000 $’000 $’000 NBOBHFNFOUJTBTGPMMPXT
US Dollar Euro Japanese Yen Pound Sterling Others "U"QSJM 887 $’000 $’000 $’000 $’000 $’000 "MMPXBODFSFWFSTFE "U.BSDI 2011 2010
NTU ANNUAL REPORT 2011 104 105 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
29 Financial Instruments (cont’d) 29 Financial Instruments (cont’d) Foreign currency risk (cont’d) Interest rates used in determining fair values Sensitivity analysis for currency risk 5IF(SPVQVTFTUIFHPWFSONFOUZJFMEDVSWFBTPG.BSDIQMVTBOBEFRVBUFDPOTUBOUDSFEJUTQSFBEUPEJTDPVOU *GUIFSFMFWBOUGPSFJHODVSSFODZDIBOHFTBHBJOTUUIF4JOHBQPSFEPMMBSCZ BMMPUIFSWBSJBCMFTCFJOHIFME ýOBODJBMJOTUSVNFOUT5IFJOUFSFTUSBUFTVTFEBSFBTGPMMPXT DPOTUBOU UIFFGGFDUTXJMMCFBTGPMMPXT 2011 2010 Income and expenditure % p.a. % p.a. 2011 2010 $’000 $’000 'JOBODFMFBTFSFDFJWBCMFT Increase/(Decrease) 3FDFJWBCMFT
US Dollar against Singapore Dollar Fair value hierarchy 4USFOHUIFOFE 5IFUBCMFCFMPXBOBMZTFTýOBODJBMJOTUSVNFOUTDBSSJFEBUGBJSWBMVF CZWBMVBUJPONFUIPE5IFEJGGFSFOUMFWFMTIBWFCFFO 8FBLFOFE EFýOFEBTGPMMPXT t Level 1RVPUFEQSJDFT VOBEKVTUFE JOBDUJWFNBSLFUTGPSJEFOUJDBMBTTFUTPSMJBCJMJUJFT Euro against Singapore Dollar 4USFOHUIFOFE t Level 2JOQVUTPUIFSUIBORVPUFEQSJDFTJODMVEFEXJUIJO-FWFMUIBUBSFPCTFSWBCMFGPSUIFBTTFUPSMJBCJMJUZ FJUIFS 8FBLFOFE EJSFDUMZ JF BTQSJDFT PSJOEJSFDUMZ JF EFSJWFEGSPNQSJDFT t Level 3JOQVUTGPSUIFBTTFUPSMJBCJMJUZUIBUBSFOPUCBTFEPOPCTFSWBCMFNBSLFUEBUB VOPCTFSWBCMFJOQVUT Japanese Yen against Singapore Dollar 4USFOHUIFOFE Level 1 Level 2 Level 3 Total $’000 $’000 $’000 $’000 8FBLFOFE
Group Pound Sterling against Singapore Dollar 4USFOHUIFOFE 31 March 2011 8FBLFOFE "WBJMBCMFGPSTBMFýOBODJBMBTTFUT Estimating the fair values 'JOBODJBMBTTFUTBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSF Financial assets at fair value through income and expenditure %FSJWBUJWFýOBODJBMBTTFUT 5IFGBJSWBMVFTPGýOBODJBMJOTUSVNFOUTUSBEFEJOBDUJWFNBSLFUT TVDIBTFYDIBOHFUSBEFEBOEPWFSUIFDPVOUFSTFDVSJUJFT BOE EFSJWBUJWFT BSF CBTFE PO RVPUFE NBSLFU QSJDFT BU UIF CBMBODF TIFFU EBUF 5IF GBJS WBMVFT PG VORVPUFE FRVJUZ %FSJWBUJWFýOBODJBMMJBCJMJUJFT JOWFTUNFOUTBSFCBTFEPOOFUBTTFUWBMVFTQSPWJEFECZGVOENBOBHFSTVTJOHUIFJSWBMVBUJPONFUIPEPMPHJFT
Non-derivative !nancial liabilities 31 March 2010 'BJSWBMVF XIJDIJTEFUFSNJOFEGPSEJTDMPTVSFQVSQPTFT JTDBMDVMBUFECBTFEPOUIFQSFTFOUWBMVFPGGVUVSFQSJODJQBMBOE "WBJMBCMFGPSTBMFýOBODJBMBTTFUT JOUFSFTUDBTIþPXT EJTDPVOUFEBUUIFNBSLFUSBUFPGJOUFSFTUBUSFQPSUJOHEBUF 'JOBODJBMBTTFUTBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSF Other !nancial assets and liabilities %FSJWBUJWFýOBODJBMBTTFUT 5IFDBSSZJOHBNPVOUTPGýOBODJBMBTTFUTBOEMJBCJMJUJFTXJUIBNBUVSJUZPGMFTTUIBOPOFZFBS JODMVEJOHMPBOUPBTVCTJEJBSZ USBEFBOEPUIFSSFDFJWBCMFT DBTIBOEDBTIFRVJWBMFOUT USBEFBOEPUIFSQBZBCMFT BOETIPSUUFSNCPSSPXJOHT BSFBTTVNFE %FSJWBUJWFýOBODJBMMJBCJMJUJFT UPBQQSPYJNBUFUIFJSGBJSWBMVFT"MMPUIFSýOBODJBMBTTFUTBOEMJBCJMJUJFTBSFEJTDPVOUFEUPEFUFSNJOFUIFJSGBJSWBMVFT
NTU ANNUAL REPORT 2011 106 107 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
29 Financial Instruments (cont’d) 29 Financial Instruments (cont’d) Fair value hierarchy (cont’d) Assets measured at fair value based on Level 3: (cont’d) Level 1 Level 2 Level 3 Total Financial assets $’000 $’000 $’000 $’000 designated at fair value through income Available-for-sale and expenditure !nancial assets Total University Company
Unquoted equity Unquoted equity 31 March 2011 investments investments "WBJMBCMFGPSTBMFýOBODJBMBTTFUT $’000 $’000 $’000 'JOBODJBMBTTFUTBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSF %FSJWBUJWFýOBODJBMBTTFUT Group (BJOTPSMPTTFTJODMVEFEJOTUBUFNFOU PGDPNQSFIFOTJWFJODPNFGPSUIF %FSJWBUJWFýOBODJBMMJBCJMJUJFT QFSJPE BCPWF BSFQSFTFOUFEBTGPMMPXT
5PUBMHBJOTPSMPTTFTJODMVEFEJOTUBUFNFOUPG 31 March 2010 DPNQSFIFOTJWFJODPNFGPSUIFQFSJPE "WBJMBCMFGPSTBMFýOBODJBMBTTFUT 'JOBODJBMBTTFUTBUGBJSWBMVFUISPVHIJODPNFBOEFYQFOEJUVSF %FSJWBUJWFýOBODJBMBTTFUT 5PUBMHBJOTPSMPTTFTGPSUIFQFSJPEJODMVEFE JOTUBUFNFOUPGDPNQSFIFOTJWFJODPNFGPS BTTFUTIFMEBUUIFFOEPGUIFSFQPSUJOHQFSJPE
%FSJWBUJWFýOBODJBMMJBCJMJUJFT University Company Assets measured at fair value based on Level 3: "UPQFOJOHCBMBODF Financial assets 5PUBMHBJOTPSMPTTFTJOTUBUFNFOUPG designated at fair DPNQSFIFOTJWFJODPNF value through income Available-for-sale and expenditure !nancial assets Total 4VCTDSJQUJPOT$POUSJCVUJPOT 3FEFNQUJPOT%JTUSJCVUJPOT Unquoted Unquoted "UDMPTJOHCBMBODF equity investments equity investments $’000 $’000 $’000 Group 5PUBMHBJOTPSMPTTFTGPSUIFQFSJPEJODMVEFE "UPQFOJOHCBMBODF JOTUBUFNFOUPGDPNQSFIFOTJWFJODPNFGPS 5PUBMHBJOTPSMPTTFTJOTUBUFNFOUPG BTTFUTIFMEBUUIFFOEPGUIFSFQPSUJOHQFSJPE DPNQSFIFOTJWFJODPNF 4VCTDSJQUJPOT$POUSJCVUJPOT (BJOTPSMPTTFTJODMVEFEJOTUBUFNFOUPG 3FEFNQUJPOT%JTUSJCVUJPOT DPNQSFIFOTJWFJODPNFGPSUIFQFSJPE BCPWF "UDMPTJOHCBMBODF BSFQSFTFOUFEBTGPMMPXT
5PUBMHBJOTPSMPTTFTGPSUIFQFSJPEJODMVEFEJO 5PUBMHBJOTPSMPTTFTJODMVEFEJOTUBUFNFOUPG TUBUFNFOUPGDPNQSFIFOTJWFJODPNFGPSBTTFUT DPNQSFIFOTJWFJODPNFGPSUIFQFSJPE IFMEBUUIFFOEPGUIFSFQPSUJOHQFSJPE 5PUBMHBJOTPSMPTTFTGPSUIFQFSJPEJODMVEFEJOTUBUFNFOU PGDPNQSFIFOTJWFJODPNFGPSBTTFUTIFMEBUUIFFOE PGUIFSFQPSUJOHQFSJPE
NTU ANNUAL REPORT 2011 108 109 NTU ANNUAL REPORT 2011 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS :FBSFOEFE.BSDI :FBSFOEFE.BSDI
30 Financial Risk Management 30 Financial Risk Management (cont’d) Overview Market risk – Price risk 5IF(SPVQIBTFYQPTVSFUPUIFGPMMPXJOHSJTLTGSPNJUTVTFPGýOBODJBMJOTUSVNFOUT 5IF(SPVQJTFYQPTFEUPQSJDFSJTLBSJTJOHGSPNJOWFTUNFOUTJOWFTUFEUISPVHIGVOETNBOBHFECZFYUFSOBMNBOBHFST JOUIFWBSJPVTBTTFUDMBTTFT5IF(SPVQNBOBHFTJUTQSJDFSJTLUISPVHIQPSUGPMJPEJWFSTJýDBUJPOBDSPTTBTTFUDMBTTFTUP t DSFEJUSJTL NBOBHFFYQPTVSFSJTL t MJRVJEJUZSJTL t NBSLFUSJTL 31 Charity Act and Regulations 5IJTOPUFQSFTFOUTJOGPSNBUJPOBCPVUUIF(SPVQTFYQPTVSFUPFBDIPGUIFBCPWFSJTLT UIF(SPVQTPCKFDUJWFT QPMJDJFT "TSFRVJSFEGPSEJTDMPTVSFVOEFS4FDUJPO PGUIF$IBSJUJFT *OTUJUVUJPOTPGB1VCMJD$IBSBDUFS 3FHVMBUJPOT UIF BOEQSPDFTTFTGPSNFBTVSJOHBOENBOBHJOHSJTL BOEUIF(SPVQTNBOBHFNFOUPGDBQJUBM'VSUIFSRVBOUJUBUJWFEJTDMPTVSFT 6OJWFSTJUZ$PNQBOZIBTSFDFJWFEUPUBMUBYEFEVDUJCMFEPOBUJPOTPG JOUIFDVSSFOU BSFJODMVEFEUISPVHIPVUUIFTFýOBODJBMTUBUFNFOUT ýOBODJBMZFBS Risk management 3JTLNBOBHFNFOUJTJOUFHSBMUPUIFBDUJWJUJFTPGUIF(SPVQ5IF(SPVQIBTDPOUSPMTJOQMBDFUPDSFBUFBOBDDFQUBCMF CBMBODFCFUXFFOUIFDPTUPGSJTLTPDDVSSJOHBOEUIFDPTUPGNBOBHJOHUIFSJTLT.BOBHFNFOUDPOUJOVBMMZNPOJUPSTJUTSJTL NBOBHFNFOUQSPDFTTFTUPFOTVSFUIBUBOBQQSPQSJBUFCBMBODFCFUXFFOSJTLBOEDPOUSPMJTBDIJFWFE3JTLNBOBHFNFOU QSPDFTTFTBSFSFWJFXFESFHVMBSMZUPSFþFDUDIBOHFTJOUIF(SPVQTBDUJWJUJFT
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NTU ANNUAL REPORT 2011 110 111 NTU ANNUAL REPORT 2011 Produced by NTU Corporate Communications Of!ce Printed on eco-friendly paper in support of a sustainable planet Designed by Coal Creative Consultants 3FH/P3 /BOZBOH"WFOVF 4JOHBQPSF 5FM 'BY XXXOUVFEVTH
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