Osim FR 050407.indd

More documents

Recommendations

Info

Statement by DirectorsPursuant to Section 201(15)We, Ron Sim Chye Hock and Charlie Teo Chay Lee, being two of the directors of OSIM International Ltd, do hereby state that, in the opinionof the directors,(i)(ii)the accompanying balance sheets, consolidated profi t and loss account, statements of changes in equity and consolidated cash fl owstatement together with notes thereto are drawn up so as to give a true and fair view of the state of affairs of the Group and of theCompany as at 31 December 2006 and of the results, changes in equity and cash fl ows of the Group and the changes in equity ofthe Company for the year ended on that date; andat the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and whenthey fall due.On behalf of the board of directors,Ron Sim Chye HockDirectorCharlie Teo Chay LeeDirectorSingapore26 March 2007Statement by Directors 71Annual Report 2006
Independent Auditors’ Reportto the Members of OSIM International LtdWe have audited the accompanying fi nancial statements of OSIM International Ltd (the “Company”) and its subsidiaries (collectively, the“Group”) set out on pages 74 to 169, which comprise the balance sheets of the Group and the Company as at 31 December 2006, thestatements of changes in equity of the Group and the Company, the profi t and loss account and cash fl ow statement of the Group for theyear then ended, and a summary of signifi cant accounting policies and other explanatory notes.Directors’ Responsibility for the Financial StatementsThe Company’s directors are responsible for the preparation and fair presentation of these fi nancial statements in accordance with theprovision of the Singapore Companies Act, Cap 50 (the “Act”) and Singapore Financial Reporting Standards. This responsibility includes:designing, implementing and maintaining internal control relevant to the preparation and fair presentation of fi nancial statements thatare free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and makingaccounting estimates that are reasonable in the circumstances.Auditors’ ResponsibilityOur responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance withSingapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance whether the fi nancial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial statements. Theprocedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancialstatements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’spreparation and fair presentation of the fi nancial statements in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of accounting estimates made by directors, as well as evaluating theoverall presentation of the fi nancial statements.We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.Independant Auditors’ Report 72Annual 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 and 70: Directors’ Report (cont’d)Share
Page 71: Directors’ Report (cont’d)Audit
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 123 and 124:
Notes to the Financial Statements -
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?