Osim FR 050407.indd

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Notes to the Financial Statements - 31 December 2006 (cont’d)9. Foreign currency translation reserveThe foreign currency translation reserve records exchange differences arising from the translation of the fi nancial statements offoreign operations whose functional currencies are different from that of the Group’s presentation currency.Group2006 2005$’000 $’000(Restated)At beginning of year as previously stated (1,175) (2,427)Fair value adjustments to the identifi able assets and liabilities of a subsidiary acquired in2005 (2) –At beginning of year as restated (1,177) (2,427)Net effect of exchange differences arising from translation of fi nancial statements offoreign operations(15,905) 1,250At end of year (17,082) (1,177)Notes to the Financial Statements 111Annual Report 2006
Notes to the Financial Statements - 31 December 2006 (cont’d)10. Fixed assetsGroupFurnitureandfittingsCapitalwork-inprogressFreehold Freehold Leasehold Plant andMotor ShopOfficeland buildings buildings machinery Computers vehicles renovationsequipmentTotal$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000CostAs at 1 January 2005 3,931 2,516 3,207 7,733 5,364 2,671 20,214 5,363 2,138 – 53,137Additions – 52 – 2,001 1,081 172 6,145 3,645 499 – 13,595Disposals (171) (957) – (6) (190) (123) (5,427) (371) (52) – (7,297)Acquisition of subsidiaries(Note 11di) – – 3,353 189 793 180 3,371 4,758 199 – 12,843Net exchange differences 2 12 6 – 46 20 170 (118) 13 – 151As at 31 December 2005and 1 January 2006 3,762 1,623 6,566 9,917 7,094 2,920 24,473 13,277 2,797 – 72,429Reclassification – – – – 140 – – (140) – – –Additions – – – 17 1,520 1,135 16,482 4,284 817 21 24,276Disposals – – – (3) (283) (676) (8,182) (719) (80) – (9,943)Acquisition of subsidiaries(Note 11ci) – – – 4 63 19 83 311 10 – 490Net exchange differences (295) (128) (7) – (235) (76) (1,142) (186) (100) – (2,169)As at 31 December 2006 3,467 1,495 6,559 9,935 8,299 3,322 31,714 16,827 3,444 21 85,083Accumulateddepreciation andimpairmentAs at 1 January 2005– 187 1,129 2,349 3,979 1,746 11,440 2,817 772 – 24,419Depreciation charge forthe year– 46 141 1,094 1,096 464 6,034 1,844 347 – 11,066Disposals – (188) – (1) (82) (118) (4,840) (211) (37) – (5,477)Impairment loss (Note 32) – – 100 – – – – – – – 100Net exchange differences – 2 – – 28 17 116 16 6 – 185As at 31 December 2005and 1 January 2006 – 47 1,370 3,442 5,021 2,109 12,750 4,466 1,088 – 30,293Depreciation charge forthe year – 30 162 1,114 1,501 491 7,947 2,777 447 – 14,469Disposals – – – (1) (250) (625) (6,699) (338) (51) – (7,964)Impairment loss (Note 32) 33 14 – – – 2 41 – – – 90Net exchange differences (1) (5) (1) – (141) (53) (529) (68) (45) – (843)As at 31 December 2006 32 86 1,531 4,555 6,131 1,924 13,510 6,837 1,439 – 36,045Net carrying amountAs at 31 December 2006 3,435 1,409 5,028 5,380 2,168 1,398 18,204 9,990 2,005 21 49,038As at 31 December 2005 3,762 1,576 5,196 6,475 2,073 811 11,723 8,811 1,709 – 42,136Notes to the Financial Statements 112Annual Report 2006
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Process and Performanceas the growt
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Customer Service Department“I put
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Sales Department“I look forward t
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Research & Development“Every prod
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Contents17 CEO’s Message22 The Ro
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... ensuring that as we grow,they g
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previous year. Q4 2006 revenue rose
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The Role ModelsThe Role Models 22 A
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Ms Teo Sway HeongNon-Executive Dire
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Mr Peter Lee Hwai KiatMs Celine Cha
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Result of our Growth StrategyThe Gr
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Performance ReviewIn building a glo
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ProfitabilityIn FY2006, buoyant rev
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An Environment of GrowthMarch 2006
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Financial HighlightsOur goal is to
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Number of OutletsOSIM OutletsNorth
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Capital ExpenditureCapexS$’000 Le
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Corporate Structure as at 21 Februa
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OSIM Global NetworkSINGAPORECHINATA
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Corporate InformationBoard of Direc
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Non Executive DirectorMs Teo Sway H
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Corporate Governance Report 51 Annu
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The Company worked closely with a p
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New directors are at present appoin
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In 2006, the Audit & Risk Managemen
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The aggregate value of interested p
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Page 65 and 66: Directors’ ReportFor the Year end
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Page 81 and 82: Consolidated Cash Flow Statementfor
Page 83 and 84: Consolidated Cash Flow Statement fo
Page 85 and 86: Notes to the Financial Statements -
Page 111: Notes to the Financial Statements -
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Notes to the Financial Statements -
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Major PropertiesUnexpiredterm ofDes
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Shareholdings Statistics as at 8 Ma
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Notice of Annual General Meeting (c
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Notice of Annual General Meeting (c
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Appendix (cont’d)DEFINITIONSIn th
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Appendix (cont’d)PROPOSED RENEWAL
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Appendix (cont’d)3.1.3 The Direct
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Appendix (cont’d)4. Rationale and
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Appendix (cont’d)11. ACTION TO BE
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OSIM INTERNATIONAL LTDCompany Regis
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SINGAPOREOSIM International Ltd65 U
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