UOB Annual Report 2003 - United Overseas Bank

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BOARD OF DIRECTORS Mr Philip Yeo Liat Kok United Overseas Bank Mr Tan Kok Quan (L) Prof Lim Pin (R) 16 Mrs Margaret Lien Wen Hsien Mr Ng Boon Yew
Mr Philip Yeo Liat Kok Age 57. Chairman of the Agency for Science, Technology & Research (A*STAR) and Co-Chairman of Economic Development Board. Recognised for his contributions to Singapore’s economic development and his pioneering role in the promotion and development of the country’s information technology, semiconductor and chemical industries. Brings to the Bank wide government and private sector experience over a 33-year career. Appointed to the Board on 26 May 2000. Last re-elected as a Director on 8 May 2003. An independent and non-executive Director. Member of the Bank’s Audit Committee and Remuneration Committee. Director of UOB subsidiary, Far Eastern Bank. Chairman of CapitaLand and Board Member of Nasdaq-listed Infosys of India. Raffles Medical Group. Has served as Vice-Chancellor of NUS and Deputy Chairman of Economic Development Board. Former Board Member of the Institute of Policy Studies, Singapore International Foundation and Singapore Institute of Labour Studies. Holds a Master of Arts and Doctor of Medicine from the University of Cambridge, UK. Fellow of the Academy of Medicine of Singapore (FAMS), FRCP (London) and FRACP. Mrs Margaret Lien Wen Hsien Age 61. Appointed to the Board on 1 October 2001. Last re-elected as a Director on 9 May 2002. A non-independent and non-executive Director. Director of Overseas Union Enterprise, Lien Ying Chow Private Limited and Wah Hin & Company Limited. Governor of the Lien Foundation. Holds a Bachelor of Applied Science (Industrial Engineering) and Doctorate of Engineering from the University of Toronto, Master of Science (Systems Engineering) from the University of Singapore and Master of Business Administration from Harvard University, USA. Mr Tan Kok Quan Age 65. Senior Partner of Tan Kok Quan Partnership. Notary Public and Senior Counsel, Supreme Court of Singapore. Appointed to the Board on 1 October 2001. Last re-elected as a Director on 9 May 2002. An independent and nonexecutive Director. Member of the Bank’s Audit Committee. Director of Network Foods International. Has served as Deputy Chairman of Public Utilities Board. Former Director of NH Ceramics. Holds a Bachelor of Law (Honours) from the University of Singapore. Prof Lim Pin Age 68. University Professor & Professor of Medicine at the National University of Singapore (NUS). Senior Consultant at the National University Hospital. Appointed to the Board on 1 October 2001. Last re-elected as a Director on 9 May 2002. An independent and non-executive Director. Member of the Bank’s Nominating Committee and Remuneration Committee. Director of Holds a Bachelor of Law (Honours) from the London School of Economics and Political Science, University of London. Mr Ng Boon Yew Age 49. A Certified Public Accountant and Member of the Institute of Certified Public Accountants of Singapore, with more than 20 years of accounting and auditing experience in both the private and public sectors. Appointed to the Board on 1 October 2001. Last re-elected as a Director on 9 May 2002. An independent and non-executive Director. Director of Datapulse Technology, Fischer Tech and RSH. Group Chief Financial Officer of Singapore Technologies. Member of the Council on Corporate Disclosure and Governance and of the Council on Governance of Institutions of a Public Character. Member of the Public Accountants Board and Member of the Board of Trustees of the Cancer Research and Education Fund. Former Partner in charge of corporate finance services and former Head of Singapore banking practice at major international accounting firm, KPMG. Has served as Chairman of the Disclosure and Accounting Standards Committee. Fellow of the Association of Chartered Certified Accountants. Associate Member of the Institute of Chartered Accountants in England and Wales, Chartered Institute of Management Accountants, Institute of Chartered Secretaries and Administrators and Chartered Institute of Taxation. United Overseas Bank 17
Page 1 and 2: Growing with you ANNUAL REPORT 2003
Page 3 and 4: OUR MISSION To be a premier bank in
Page 5 and 6: PERFORMANCE IN BRIEF Profit for the
Page 7 and 8: The Group has launched a ’Growth
Page 9 and 10: FINANCIAL HIGHLIGHTS Group total in
Page 11 and 12: Group assets 2003: $113,446 million
Page 13 and 14: CORPORATE INFORMATION Honorary Life
Page 15 and 16: Mr Wee Cho Yaw Chairman & Chief Exe
Page 17: Mr Ngiam Tong Dow Age 66. Chairman
Page 21 and 22: Left to right: Mr Michael Lau Hwai
Page 23 and 24: and responsibilities of directors u
Page 25 and 26: The AC reviews with the internal an
Page 27 and 28: Risk Management As the management o
Page 29 and 30: RISK MANAGEMENT Credit and Country
Page 31 and 32: Customer loans Loans and advances a
Page 33 and 34: Write-off A classified account is w
Page 35 and 36: Group NPLs and cumulative provision
Page 37 and 38: Group specific provisions by region
Page 39 and 40: Collateral types The majority of th
Page 41 and 42: Group exposure by country of operat
Page 43 and 44: Cross-border exposure to the Five R
Page 45 and 46: Complementing the static analysis i
Page 47 and 48: Sources of deposits The Group has a
Page 49 and 50: The VaR calculations are performed
Page 51 and 52: Group daily diversified VaR distrib
Page 53 and 54: For the implementation of all onlin
Page 55 and 56: Investment Centres at our branches
Page 57 and 58: A major project financing transacti
Page 59 and 60: We made significant strides in the
Page 61 and 62: UOBGC also further expanded its mut
Page 63 and 64: Our card business in Hong Kong show
Page 65 and 66: We adopt a flexible and modular inf
Page 67 and 68: (Left) Our investment in arts progr
Page 69 and 70:
GROUP FINANCIAL REVIEW Review of Fi
Page 71 and 72:
Review of Group performance The Gro
Page 73 and 74:
Analysis of changes in net interest
Page 75 and 76:
2003 2002 Variance $ million $ mill
Page 77 and 78:
Securities analysed by issuer type
Page 79 and 80:
Deposits Total deposits of $88,702
Page 81 and 82:
Capital Adequacy Ratios The Capital
Page 83 and 84:
DIRECTORS’ REPORT for the financi
Page 85 and 86:
Directors’ contractual benefits S
Page 87 and 88:
(f) During the financial year, the
Page 89 and 90:
STATEMENT BY DIRECTORS for the fina
Page 91 and 92:
CONSOLIDATED INCOME STATEMENT for t
Page 93 and 94:
The Group The Bank Note 2003 2002 2
Page 95 and 96:
2002 Share of Share Capital Statuto
Page 97 and 98:
NOTES TO THE FINANCIAL STATEMENTS f
Page 99 and 100:
The new accounting policy has been
Page 101 and 102:
(k) Foreign currencies The measurem
Page 103 and 104:
3 Interest income The Group 2003 20
Page 105 and 106:
(c) Equity compensation benefits Op
Page 107 and 108:
(b) The number of directors of the
Page 109 and 110:
The tax charge on the results of th
Page 111 and 112:
Deferred tax assets 2003 2002 Non-t
Page 113 and 114:
17 Capital reserves (a) The Group 2
Page 115 and 116:
19 Revenue reserves (a) The Group 2
Page 117 and 118:
(c) In each financial year, a certa
Page 119 and 120:
(a) The S$ Notes were issued at par
Page 121 and 122:
26 Dealing securities The Group The
Page 123 and 124:
(e) The movements in provisions are
Page 125 and 126:
30 Investment securities (a) The Gr
Page 127 and 128:
32 Investments in subsidiaries (a)
Page 129 and 130:
Singapore Other Government governme
Page 131 and 132:
Singapore Other Government governme
Page 133 and 134:
(b) The Bank 2003 2002 Office Offic
Page 135 and 136:
38 Derivative financial instruments
Page 137 and 138:
(c) Derivative financial instrument
Page 139 and 140:
42 Segment information (a) Primary
Page 141 and 142:
Notes: (1) Segment profit before ta
Page 143 and 144:
The Credit Committee is responsible
Page 145 and 146:
(iv) Total non-performing loans, de
Page 147 and 148:
The Group - 2003 Hong Singapore US
Page 149 and 150:
Other foreign exchange exposures of
Page 151 and 152:
The Group - 2003 Non- Over 7 Over O
Page 153 and 154:
The Group - 2002 Non- Over 7 Over O
Page 155 and 156:
The Group - 2003 Over 7 Over Over O
Page 157 and 158:
The Group - 2002 Over 7 Over Over O
Page 159 and 160:
Where quoted and observable market
Page 161 and 162:
Percentage of paid-up capital held
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
INVESTOR REFERENCE 7 FINANCIAL HIGH
Page 169 and 170:
1999 1998 1997 1996 1995 1994 1993
Page 171 and 172:
1999 1998 1997 1996 1995 1994 1993
Page 173 and 174:
STATISTICS OF SHAREHOLDINGS as at 1
Page 175 and 176:
CHANGES IN SHARE CAPITAL The follow
Page 177 and 178:
OUR INTERNATIONAL NETWORK Banking S
Page 179 and 180:
Myanmar Thailand United States of A
Page 181 and 182:
France UOB Global Capital SARL (a s
Page 183 and 184:
Notes to Resolutions 4, 5, 6, 9, 10
Page 185 and 186:
PROXY FORM IMPORTANT 1 The Annual R
Page 187 and 188:
Design and production by Citigate S
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UOB Annual Report 2003 - United Overseas Bank

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