Osim FR 050407.indd

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Notes to the Financial Statements - 31 December 2006 (cont’d)11. Subsidiariesa) These comprise:Company2006 2005$’000 $’000Unquoted equity shares, at cost 78,118 59,763b) Details of subsidiaries are as follows:Name of companyHeld by the CompanyPrincipal activitiesCountry ofincorporationPercentage ofequity held Cost of investment2006 2005 2006 2005% % $’000 $’000OSIM InternationalTrading (Shanghai) Co.,Ltd #Import, trading anddistribution of healthylifestyle productsPeople’s Republic ofChina100 100 295 295OSIM (M) Sdn Bhd #OSIM (HK) CompanyLimited #OSIM (Taiwan) Co., Ltd #Sale and marketing ofhealthy lifestyle productsSale and marketing ofhealthy lifestyle productsSale and marketing ofhealthy lifestyle productsMalaysia 80 80 5,677 5,677Hong Kong 100 100 12,070 12,070Taiwan 92.50 90 7,156 2,225Nutrition Focus (USA)Inc ++Dormant British Virgin Islands 100 100 – –Global Active Limited #Specialty retailerand distributor ofnutraceutical productsSingapore 81.24 67.17 41,196 33,434OSIM (China) Co., Ltd #Sale and marketing ofhealthy lifestyle productsPeople’s Republic ofChina100 100 11,008 6,062OSIM International(Australia) Pty Ltd +Sale and marketing ofhealthy lifestyle productsAustralia 60 – 716 –78,118 59,763Notes to the Financial Statements 115Annual Report 2006
Notes to the Financial Statements - 31 December 2006 (cont’d)11. Subsidiaries (cont’d)Name of companyHeld through Global Active LimitedPrincipal activitiesCountry ofincorporationPercentage ofequity held2006 2005% %Nutri Active Pte Ltd #Victoria House Pte Ltd #Wholesale of nutraceutical productsand supplementsRetailing of nutraceutical products andsupplementsSingapore 81.24** 67.17**Singapore 81.24** 67.17**VHE China Limited & Dormant Hong Kong 81.24** 67.17**VHE Shanghai Limited ^Wholesale of nutraceutical productsand supplementsPeople’s Republicof China81.24** 67.17**Nutrition Imports Pty Ltd + Wholesale of nutraceutical productsand supplementsAustralia 81.24** 67.17**Green Valley Nutrition Pty Ltd +USB Inc^^Retailing of nutraceutical products andsupplementsRetailing of nutraceutical products andsupplementsAustralia 81.24** 67.17**Guam 81.24** 67.17**Held through Victoria House Pte LtdVictoria House Sdn Bhd ##Nutri Active Sdn Bhd ##Retailing of nutraceutical productsand supplementsWholesale of nutraceutical productsand supplementsMalaysia 69.05** Note AMalaysia 69.05** Note A#Audited by member fi rms of Ernst & Young Global, in the respective countries.+ Audited by Banks Group Assurance Pty Ltd, Chartered Accountants, Australia.##Audited by Deloitte KassimChan, Certifi ed Public Accountants, Malaysia.& Audited by S.H.Leung & Co., Hong Kong.^ Audited by SBA Stone Forest Corporate Advisory (Shanghai) Co., Ltd, People’s Republic of China.++Cost of investment of Nutrition Focus (USA) Inc is $2 and it is not required to be audited under the laws of its country ofincorporation.^^ Not required to be audited under the laws of its country of incorporation.** Group’s effective shareholdingsNotes to the Financial Statements 116Annual Report 2006
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Process and Performanceas the growt
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Customer Service Department“I put
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Sales Department“I look forward t
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Research & Development“Every prod
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Contents17 CEO’s Message22 The Ro
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... ensuring that as we grow,they g
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previous year. Q4 2006 revenue rose
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The Role ModelsThe Role Models 22 A
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Ms Teo Sway HeongNon-Executive Dire
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Mr Peter Lee Hwai KiatMs Celine Cha
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Result of our Growth StrategyThe Gr
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Performance ReviewIn building a glo
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ProfitabilityIn FY2006, buoyant rev
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An Environment of GrowthMarch 2006
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Financial HighlightsOur goal is to
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Number of OutletsOSIM OutletsNorth
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Capital ExpenditureCapexS$’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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Financial Contents64 Directors’ R
Page 65 and 66: Directors’ ReportFor the Year end
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Page 75 and 76: Balance Sheetsas at 31 December 200
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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 115: Notes to the Financial Statements -
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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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Osim FR 050407.indd

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