Ecowise Annual Report 2007 - ecoWise Holdings Limited

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STATEMENT OFDIRECTORSIn the opinion of the directors, the accompanying financial statements set out on pages 40 to 89 are drawn up so as to give atrue and fair view of the state of affairs of the group and of the company as at 31 October 2007 and the results, changes inequity and cash flows of the group and the changes in equity of the company for the year ended on that date and at the dateof this statement there are reasonable grounds to believe that the company will be able to pay its debts as and when theyfall due.The board of directors authorised the issue of these financial statements.ON BEHALF OF THE DIRECTORSLee Thiam SengDirectorTeoh Teik KeeDirector30 December 200738 • ecoWise Holdings Limited • Annual Report 2007
INDEPENDENTAUDITORS’ REPORTTO THE MEMBERS OF ECOWISE HOLDINGS LIMITED(Registration No: 200209835C)We have audited the accompanying financial statements of ecoWise Holdings Limited and its subsidiaries (the group), whichcomprise the balance sheets of the group and the company as at 31 October 2007, and the income statement, statement ofchanges in equity and cash flow statement of the group, and statement of changes in equity of the company for the year thenended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 40 to 89.Directors’ Responsibility for the Financial StatementsThe company’s directors are responsible for the preparation and fair presentation of these financial statements in accordancewith the provisions 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 fairpresentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting andapplying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.Independent Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit inaccordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatementof the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internalcontrol relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit proceduresthat are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’sinternal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness ofaccounting estimates made by directors, as well as evaluating the overall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.OpinionIn our opinion,a) the consolidated financial statements of the group and the balance sheet of the company are properly drawn up inaccordance with the provisions of the Act and Singapore Financial Reporting Standards so as to give a true and fairview of the state of affairs of the group and of the company as at 31 October 2007 and the results, changes in equityand cash flows of the group and the changes in equity of the company for the year ended on that date; andb) the accounting and other records required by the Act to be kept by the company and by the subsidiaries incorporatedin Singapore of which we are the independent auditors have been properly kept in accordance with the provisions ofthe Act.RSM Chio LimCertified Public AccountantsSingapore30 December 2007Partner-in-charge of audit: See Ling Ling, HelenEffective from year ended 31 October 200739
Page 1 and 2: ecoWise Holdings Limitedannual repo
Page 3 and 4: everything has BEAUTYbut not everyo
Page 5 and 6: Our biomass cogeneration plant at S
Page 7 and 8: Copper slag, the waste residue of c
Page 9 and 10: Our composting facility at Sarimbun
Page 11 and 12: Working to create a living planet.
Page 13 and 14: CHAIRMAN’SSTATEMENTRecovery of In
Page 16 and 17: FINANCIALHIGHLIGHTSFY2007 FY2006 FY
Page 18 and 19: OPERATIONSREVIEWReview of Financial
Page 20 and 21: BOARD OFDIRECTORS1 2 34 5 618 • e
Page 22 and 23: MANAGEMENTTEAMLee Thiam SengChief E
Page 24 and 25: CORPORATEGOVERNANCENewly appointed
Page 26 and 27: CORPORATEGOVERNANCEAccess to Inform
Page 28 and 29: CORPORATEGOVERNANCEFor the period u
Page 30 and 31: CORPORATEGOVERNANCEThe AC has power
Page 32 and 33: CORPORATEGOVERNANCERisk ManagementA
Page 34 and 35: REPORT OFTHE DIRECTORSThe directors
Page 36 and 37: REPORT OFTHE DIRECTORS5. OPTIONS TO
Page 38 and 39: REPORT OFTHE DIRECTORS5. OPTIONS TO
Page 42 and 43: ConsolidatedIncome StatementYear En
Page 44 and 45: Statements OfChanges In EquityYear
Page 46 and 47: Consolidated CashFlow StatementYear
Page 48 and 49: Notes to FinancialStatements31 Octo
Page 90 and 91:
Notes to FinancialStatements31 Octo
Page 92 and 93:
SHAREHOLDINGSSTATISTICSAS AT 18 JAN
Page 94 and 95:
Notice of AnnualGeneral MeetingECOW
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Notice of AnnualGeneral MeetingECOW
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ADDITIONALEXPLANATORY STATEMENTTO O
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ADDITIONALEXPLANATORY STATEMENTTO O
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ProxyFormECOWISE HOLDINGS LIMITEDRe
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H O L D I N G S L I M I T E DCo. Re
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Ecowise Annual Report 2007 - ecoWise Holdings Limited

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