Osim FR 050407.indd

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Notes to the Financial Statements - 31 December 2006 (cont’d)12. Associated companies and a joint venture (cont’d)b) Details of associated companies are as follows:Name of companyHeld by the CompanyPrincipal activitiesCountry ofincorporation andplace of businessPercentage of equityheld Cost of investment2006 2005 2006 2005% % $’000 $’000Daito-OSIM Healthcare(Suzhou) Co., Ltd *Manufacturer andexporter of healthylifestyle productsPeople’s Republicof China30 30 346 346Daito-OSIM Healthcare(Shanghai) Co., Ltd #Manufacturer andexporter of healthylifestyle productsPeople’s Republicof China30 30 261 261Daito-OSIM (Thailand) Co.,Ltd ^Manufacturer andexporter of healthylifestyle productsKingdom ofThailand30 30 452 452OSIM (Thai) Co., Ltd +Sale and marketing ofhealthy lifestyle productsKingdom ofThailand49 49 116 1161,175 1,175* Audited by Welsen Certified Public Accountants Co., Ltd, People’s Republic of China.# Audited by Shanghai Shenzhou Certifi ed Public Accountants Company Limited, People’s Republic ofChina.^ Audited by Future Group Auditing, Certifi ed Public Accountants, Kingdom of Thailand.+ Audited by Sunantanawat Karnbanchee, Certifi ed Public Accountants, Kingdom of Thailand.Notes to the Financial Statements 125Annual Report 2006
Notes to the Financial Statements - 31 December 2006 (cont’d)12. Associated companies and a joint venture (cont’d)b) Details of associated companies are as follows (cont’d):Name of companyHeld through Global Active LimitedPrincipal activitiesCountry ofincorporationPercentage ofequity held2006 2005% %Nutri Active Sdn Bhd++Victoria House Sdn Bhd++QAF Victoria Sdn Bhd^^Wholesale of nutraceutical productsand health supplementsRetailing of nutraceutical productsand health supplementsRetailing of nutraceutical productsand health supplementsMalaysia – 33.59**Malaysia – 33.59**Brunei 40.62** 33.59**++ Became subsidiaries of Global Active Limited in April 2006.^^ Audited by Deloitte & Touche, Certifi ed Public Accountants, Brunei.** Group’s effective shareholdingsc) The summarised fi nancial information of the associated companies is as follows:Associated companies 2006 2005$’000 $’000Assets and liabilities:Current assets 98,197 86,408Non-current assets 13,300 13,537Total assets 111,497 99,945Current liabilities (71,393) (64,232)Non-current liabilities (30) (203)Total liabilities (71,423) (64,435)Results:Turnover 269,463 248,803Profi t for the year 10,089 13,822Notes to the Financial Statements 126Annual Report 2006
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Process and Performanceas the growt
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Customer Service Department“I put
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Sales Department“I look forward t
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Research & Development“Every prod
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Contents17 CEO’s Message22 The Ro
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... ensuring that as we grow,they g
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previous year. Q4 2006 revenue rose
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The Role ModelsThe Role Models 22 A
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Ms Teo Sway HeongNon-Executive Dire
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Mr Peter Lee Hwai KiatMs Celine Cha
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Result of our Growth StrategyThe Gr
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Performance ReviewIn building a glo
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ProfitabilityIn FY2006, buoyant rev
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An Environment of GrowthMarch 2006
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Financial HighlightsOur goal is to
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Number of OutletsOSIM OutletsNorth
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Capital ExpenditureCapexS$’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
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Directors’ ReportFor the Year end
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Directors’ Report (cont’d)Share
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Directors’ Report (cont’d)Share
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Directors’ Report (cont’d)Audit
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Independent Auditors’ Reportto th
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 125: Notes to the Financial Statements -
Page 171 and 172: Major PropertiesUnexpiredterm ofDes
Page 173 and 174: Shareholdings Statistics as at 8 Ma
Page 175 and 176: 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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