Osim FR 050407.indd

More documents

Recommendations

Info

Directors’ Report (cont’d)Audit committeeThe Audit Committee (the “AC’) comprises three independent non-executive directors, one of whom is also the Chairman of the Committee.The members of the AC are:Michael Kan Yuet YunOng Kian MinKhor Peng Soon(Chairman)(Non-executive Director)(Non-executive Director)The AC performs the functions in accordance with section 201B(5) of the Singapore Companies Act, Cap. 50, including the following:• Reviews the audit plans of the internal and external auditors of the Company and ensures the adequacy of the Company’s system ofaccounting controls and the co-operation given by the Company’s management to the external and internal auditors;• Reviews the quarterly and annual fi nancial statements and the auditors’ report on the annual fi nancial statements of the Group andthe Company before their submission to the board of directors;• Reviews effectiveness of the Group and the Company’s material internal controls, including fi nancial, operational and compliancecontrols and risk management via reviews carried out by the internal auditors;• Meets with the external auditors, other committees, and management in separate executive sessions to discuss any matters thatthese groups believe should be discussed privately with the AC;• Reviews legal and regulatory matters that may have a material impact on the fi nancial statements, related compliance policies andprogrammes and any reports received from regulators;• Reviews the cost effectiveness and the independence and objectivity of the external auditors;• Reviews the nature and extent of non-audit services provided by the external auditors;• Recommends to the board of directors the external auditors to be nominated, approves the compensation of the external auditors,and reviews the scope and results of the audit;• Reports actions and minutes of the AC to the board of directors with such recommendations as the AC considers appropriate; and• Reviews interested person transactions in accordance with the requirements of the Singapore Exchange Securities Trading Limited(SGX-ST)’s Listing Manual.The AC, having reviewed all non-audit services provided by the external auditors to the Group, is satisfi ed that the nature and extentof such services would not affect the independence of the external auditors. The AC has also conducted a review of interested persontransactions.The AC convened four meetings during the year with full attendance from all members. The AC has also met with internal and externalauditors, without the presence of the Company’s management, at least once a year.Further details regarding the audit committee are disclosed in the Report on Corporate Governance.Directors’ Report 69Annual Report 2006
Directors’ Report (cont’d)AuditorsErnst & Young have expressed their willingness to accept re-appointment as auditors.On behalf of the board of directors,Ron Sim Chye HockDirectorCharlie Teo Chay LeeDirectorSingapore26 March 2007Directors’ Report 70Annual Report 2006
Page 1:
Process and Performanceas the growt
Page 5:
Customer Service Department“I put
Page 9:
Sales Department“I look forward t
Page 13:
Research & Development“Every prod
Page 17 and 18:
Contents17 CEO’s Message22 The Ro
Page 19 and 20: ... ensuring that as we grow,they g
Page 21 and 22: previous year. Q4 2006 revenue rose
Page 23 and 24: The Role ModelsThe Role Models 22 A
Page 25 and 26: Ms Teo Sway HeongNon-Executive Dire
Page 27 and 28: Mr Peter Lee Hwai KiatMs Celine Cha
Page 29 and 30: Result of our Growth StrategyThe Gr
Page 31 and 32: Performance ReviewIn building a glo
Page 33 and 34: ProfitabilityIn FY2006, buoyant rev
Page 35 and 36: An Environment of GrowthMarch 2006
Page 38 and 39: Financial HighlightsOur goal is to
Page 40 and 41: Number of OutletsOSIM OutletsNorth
Page 42 and 43: Capital ExpenditureCapexS$’000 Le
Page 44 and 45: Corporate Structure as at 21 Februa
Page 46 and 47: OSIM Global NetworkSINGAPORECHINATA
Page 48 and 49: Corporate InformationBoard of Direc
Page 50 and 51: Non Executive DirectorMs Teo Sway H
Page 52 and 53: Corporate Governance Report 51 Annu
Page 54 and 55: The Company worked closely with a p
Page 56 and 57: New directors are at present appoin
Page 58 and 59: In 2006, the Audit & Risk Managemen
Page 60 and 61: The aggregate value of interested p
Page 63 and 64: Financial Contents64 Directors’ R
Page 65 and 66: Directors’ ReportFor the Year end
Page 67 and 68: Directors’ Report (cont’d)Share
Page 69: Directors’ Report (cont’d)Share
Page 73 and 74: Independent Auditors’ Reportto th
Page 75 and 76: Balance Sheetsas at 31 December 200
Page 77 and 78: Consolidated Profit and Loss Accoun
Page 79 and 80: Statements of Changes in Equity for
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 121 and 122:
Notes to the Financial Statements -
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
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
Page 177 and 178:
Notice of Annual General Meeting (c
Page 179 and 180:
Appendix (cont’d)DEFINITIONSIn th
Page 181 and 182:
Appendix (cont’d)PROPOSED RENEWAL
Page 183 and 184:
Appendix (cont’d)3.1.3 The Direct
Page 185 and 186:
Appendix (cont’d)4. Rationale and
Page 187 and 188:
Appendix (cont’d)11. ACTION TO BE
Page 189 and 190:
OSIM INTERNATIONAL LTDCompany Regis
Page 191:
SINGAPOREOSIM International Ltd65 U
show all

Osim FR 050407.indd

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?