Q&As on Annual Reports

ASKING THE RIGHT QUESTIONS ON YOUR INVESTMENTS AT AGMS

Q&As on Annual Reports

WHAT TO EXPECT

1 Q&A will focus on company’s business strategy,  financial information, corporate governance and sustainability.

2 Companies are requested to address the questions posed by SIAS at the AGM as well as post the answers to the questions on SGX Net.

3 SIAS will be progressively extending this to cover all SGX listed companies over the next 5 years.

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AGM Date Company Market Annual Report SIAS Questions Company Response
AGM Date: 31/10/2016 31/10/2016 Company: Lion Asiapac Ltd Lion Asiapac Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. In the Chairman’s Message (pages 2-3 of the annual report), the Chairman updated... 2. The group has four identifiable segments and from the financial highlights (page 10)... 3. The board currently comprising six directors, two of whom are independent... Read More Company Response1. The Board periodically reviews investment opportunities... 2. As with all investment opportunities before being approved... 3. The Board has always considered it vital to focus on value... Read More
AGM Date: 31/10/2016 31/10/2016 Company: New Silkroutes Group Ltd New Silkroutes Group Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. As mentioned in the Chairman’s Statement (page 5 of the annual report), the group has... 2. The financial statements are prepared in accordance with Singapore Financial Reporting... 3. In Note 9 (page 62 – Trade and other receivables), it was disclosed that... Read More
AGM Date: 28/10/2016 28/10/2016 Company: British and Malayan Holdings Ltd British and Malayan Holdings Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. As a trustee with a long and illustrious history, the group provides a core and critical... 2. Also in the Chairman statement, it was disclosed that “For the year ended 30 June... 3. The public float of the company is approximately 8.77% as at 26 Sept... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Cordlife Group Ltd Cordlife Group Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. On 6 October 2016, the company announced that there are material variances between the... 2. During the year, there were several changes to the senior management team. Ms Tan Poh Lan... 3. An amount of $750,000 of extraordinary directors’ fees is being proposed for... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Dukang Distillers Holdings Ltd Dukang Distillers Holdings Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. In the Chairman’s Statement (page 6 of the annual report), the Chairman acknowledged... 2. The group has net assets of RMB 1.4 billion (page 35). Inventories (consisting of raw... 3. In the operations review (page 9), it was disclosed that “cash and cash... Read More Company Response1. From a provincial local brand under “Siwu”, the Group had... 2. The inventories are carried at cost. As at each reporting date... 3. This is to establish good relationships with the... Read More
AGM Date: 28/10/2016 28/10/2016 Company: KODA Ltd KODA Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. Given all the recent restructuring and corporate developments, shareholders... 2. In the Managing Director’s Statement (page 21), the five-year summary of financial... 3. As a furniture manufacturer, the group purchases raw materials such as... Read More Company Response1. Strategic directions, growth strategies, geographical exposure... 2. As disclosed in the Report on Corporate Governance, matters... 3. The finished products manufactured by the Group use mainly... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Lum Chang Holdings Ltd Lum Chang Holdings Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. The construction division is by far the largest segment in the group, making up 83% of the... 2. In the Chairman’s Statement, it was mentioned that Britian’s vote to withdraw from the... 3. Can management provide further elaboration to shareholders on the new and... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Micro-Mechanics (Holdings) Ltd Micro-Mechanics (Holdings) Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. In the Executive Management Report (page 2 of the annual report), it was disclosed that the... 2. The group has had impressive growth in the past few years. With group revenue of $38... 3. As disclosed in the Corporate Governance Report (page 31), the company’s... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Oxley Holdings Ltd Oxley Holdings Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. On 27 June 2016, the company released a statement on the implication of “Brexit” and the... 2. The group has business presence across nine geographical markets – Singapore, UK... 3. The net gearing ratio has decreased to 2.2 times as at 30 June 2016, down... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Starhill Global Real Estate Investment Trust Starhill Global Real Estate Investment Trust Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. The REIT’s mission (page 1 of the annual report) is “to create and deliver superior... 2. The threat of online shopping is real and serious and retailers are facing headways... 3. The Japanese and Chinese assets account for 1.8% and 2.7% of gross... Read More Company Response1. SGREIT’s three biggest markets are Singapore, Australia and... 2. The office component makes up about 15% of the total asset value... 3. The Japanese and Chinese assets were acquired almost 10... Read More
AGM Date: 28/10/2016 28/10/2016 Company: TMC Education Corporation Ltd (now known as Global Dragon Ltd) TMC Education Corporation Ltd (now known as Global Dragon Ltd) Market: Catalist Catalist Annual Report: Download Download SIAS Questions1. For the financial year ended 30 June 2015, the company’s independent auditor... 2. In the board’s opinion, are the steps taken in the financial year ended 30 June 2016... 3. In the recent years, traditional education has been disrupted by the rapid and... Read More
AGM Date: 28/10/2016 28/10/2016 Company: Yamada Green Resources Ltd Yamada Green Resources Ltd Market: SGX Mainboard SGX Mainboard Annual Report: Download Download SIAS Questions1. The group has been shifted its focus in the past 2-3 years. The group exited the black... 2. On 11 March 2016, the company announced the acquisition of an office unit... 3. In the notes to the financial statements, the valuation of “biological assets” was... Read More Company Response1. In FY2014, our main business included cultivation of bamboo... 2. The acquisition of the office unit in March 2016 and the share... 3. The role of the audit committee and external auditor are... Read More


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