Strength & Stability - ECS Holdings Limited

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Vision: To be the leading provider of ICT products and value-added services. We strive for sustainable growth to achieve optimum returns to shareholders. Mission: To be the preferred supplier of choice for ICT products and value-added services by building strong customer relationships. To sustain our entrepreneurial growth by expanding our business regionally. To bring the best-of-breed ICT products and services to enhance the competitiveness of our customers’ businesses. Contents Corporate Profile p. 01 Chairman’s Message p. 04 CEO’s Message p. 10 Corporate Information p. 14 Financial Highlights p. 15 Board of Directors p. 20 Senior Management p. 23 Milestones p. 26 Group Structure p. 28 Financial Contents p. 29
ECS Holdings Limited (“ECS” or “the Group”) is a leading Information and Communications Technology (“ICT”) products and services provider that was established in 1985 and listed on the SGX Mainboard in 2001. ECS is a well-recognised provider of ICT products and services with three main businesses, namely Enterprise Systems, IT Services and Distribution. With a network of more than 18,000 active channel partners across China, Thailand, Malaysia, Singapore, Indonesia and the Philippines, ECS is well-positioned to be a regional partner of choice suitable for any global-leading MNC ICT brand vendor tapping Asia Pacific’s ICT spending growth. Leading global brand names like Hewlett-Packard (“HP”), Apple, Microsoft, Sun Microsystems, IBM, Oracle and EMC leverage on ECS’ extensive channel partner network to distribute their products across the region. The Group’s Enterprise Systems business aims to give MNCs, local government and domestic companies a competitive edge over their peers by designing, installing and implementing IT infrastructure. ECS’ IT Services business provides a comprehensive range of professional, technical support and training services. In 2007, the Group’s strategies acquired an additional dimension when Hong Kong based and HKSE-listed VST Holdings, a leading distributor of IT components in China bought a 52.5% controlling stake in ECS from certain ECS substantial shareholders. The resultant union between ECS’ downstream regional distribution of end-user ICT products and VST’s strong upstream component distribution business and market leadership in China, created a combined entity that intends to be a leading full-range Asian ICT distributor. The transaction makes VST ECS’ single largest shareholder. The Group has a consistent track record of profitability and a management that is focused on operational excellence to achieve sustainable profit growth and to enhance shareholder returns. ECS’ Distribution business leverages on a wellestablished and highly efficient logistical and IT infrastructure to distribute fast-moving products in the most efficient manner. Corporate Profile Annual Report 2008 p. 01
Page 1: ECS HOLDINGS LIMITED Annual Report
Page 5 and 6: Annual Report 2008 p. 03
Page 7 and 8: Dear Stakeholders I am pleased to p
Page 13 and 14: AN OVERVIEW FY2008 distinguishes it
Page 15 and 16: We believe that by honing these ope
Page 17 and 18: Stroll down memory lane and re-live
Page 19 and 20: SHAREHOLDERS’ EQUITY ($ million)
Page 23 and 24: 1. CHAIRMAN Mr Li Jia Lin was appoi
Page 25 and 26: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Page 27 and 28: 7. President (The Value Systems Co.
Page 29 and 30: 2008 AWARDS Group • ECS Holdings
Page 31 and 32: Financial Contents Corporate Govern
Page 33 and 34: The Board intends to hold about fou
Page 35 and 36: Level and Mix of Remuneration; Disc
Page 37 and 38: Audit Committee Principle 11 : The
Page 39 and 40: D) COMMUNICATION WITH SHAREHOLDERS
Page 41 and 42: Directors’ Interests (Cont’d) E
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Page 45 and 46: In our opinion: (a) (b) the financi
Page 47 and 48: Opinion In our opinion: (a) (b) the
Page 49 and 50: Note 2008 2007 $’000 $’000 Reve
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Note 2008 2007 $’000 $’000 Fina
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2 Summary of Significant Accounting
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3 Property, Plant and Equipment Fre
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3 Property, Plant and Equipment (Co
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5 Subsidiaries Company Note 2008 20
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6 Interest in Associate Group 2008
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10 Trade and Other Receivables Grou
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11 Trade Receivables (Cont’d) The
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15 Share Capital Group and Company
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17 Equity Compensation Benefits The
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18 Financial Liabilities (Cont’d)
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18 Financial Liabilities (Cont’d)
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23 Profit from Operations The follo
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26 Earnings per Share Group 2008 20
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27 Segment Information (Cont’d) R
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28 Geographical Segments (Group) Th
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29 Financial Risk Management (Cont
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32 Related Parties Transactions wit
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34 New Accounting Standards and Int
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SUBSTANTIAL SHAREHOLDERS Number of
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at any time and upon such terms and
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(a) (b) market purchases (each a
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(ii) Resolution 6(b), if passed, wi
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Proxy Form Annual General Meeting E
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