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INDEPENDENT AUDITORS’ REPORTTO THE MEMBERS OF HG METAL MANUFACTURING LIMITEDWe have audited the accompanying financial statements of HG Metal Manufacturing Limited (the “Company”) and its subsidiaries (the “Group”) which comprisethe balance sheets of the Group and of the Company as at 30 September 2007, income statement, statement of changes in equity of the Group and of theCompany and cash flow statement of the Group and the statement of changes in equity of the Company for the financial year then ended as set out on page 34 to 99, and asummary of significant 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 financial statements in accordance with 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 preparationand fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; andmaking accounting estimates that are reasonable in the circumstances.Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Thosestandards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from materialmisstatement.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’sjudgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, theauditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate inthe circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of accounting 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.32 HG METAL MANUFACTURING LIMITED ANNUAL REPORT 2007
INDEPENDENT AUDITORS’ REPORTTO THE MEMBERS OF HG METAL MANUFACTURING LIMITED (Continued)OpinionIn our opinion,(a)(b)the accompanying consolidated financial statements of the Group and the balance sheet, and statement of changes in equity 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 fair view of the state of affairs of the Group and of theCompany as at 30 September 2007 and of the results, changes in equity and cash flows of the Group and the changes in equity of the Company for the financial year endedon that date, andthe accounting and other records required by the Act to be kept by the Company and by the subsidiaries incorporated in Singapore of which we are the auditors have beenproperly kept in accordance with the provisions of the Act.BDO RafflesCertified Public AccountantsSingapore9 January 2008HG METAL MANUFACTURING LIMITED ANNUAL REPORT 200733
Page 3: Successfulimplementationof secondsa
Page 6 and 7: CHAIRMAN’S STATEMENT (CONT’D)pr
Page 8 and 9: 6HG METAL MANUFACTURING LIMITED ANN
Page 10 and 11: 8 HG METAL MANUFACTURING LIMITED AN
Page 12 and 13: OPERATIONS & FINANCIAL REVIEW (CONT
Page 14 and 15: Executive ChairmanMr Tan Chan Too,
Page 16 and 17: REAPING REWARDS
Page 18 and 19: CORPORATE INFORMATIONBOARD OF DIREC
Page 20 and 21: CORPORATE GOVERNANCE STATEMENTPrinc
Page 22 and 23: CORPORATE GOVERNANCE STATEMENTThe R
Page 24 and 25: CORPORATE GOVERNANCE STATEMENTExecu
Page 26 and 27: CORPORATE GOVERNANCE STATEMENTThe G
Page 28 and 29: REPORT OF THE DIRECTORSThe Director
Page 30 and 31: REPORT OF THE DIRECTORS (Continued)
Page 32 and 33: REPORT OF THE DIRECTORS (Continued)
Page 36 and 37: BALANCE SHEETSAS AT 30 SEPTEMBER 20
Page 38 and 39: CONSOLIDATED INCOME STATEMENTFOR TH
Page 40 and 41: STATEMENTS OF CHANGES IN EQUITYFOR
Page 42 and 43: CONSOLIDATED CASH FLOW STATEMENTFOR
Page 44 and 45: NOTES TO THE FINANCIAL STATEMENTSFO
Page 50 and 51: FOR THE FINANCIAL YEAR ENDED 30 SEP
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FOR THE FINANCIAL YEAR ENDED 30 SEP
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NOTES TO THE FINANCIAL STATEMENTSFO
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APPENDIX1. INTRODUCTIONThe director
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APPENDIX(ii)an “interested person
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APPENDIX2.4 CATEGORIES OF INTERESTE
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APPENDIXContracts for the same or s
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APPENDIX(b)Substantial Shareholders
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APPENDIXDuring its periodic review
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SHAREHOLDERS STATISTICas at 17 Dece
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SHAREHOLDERS STATISTICas at 17 Dece
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WARRANTHOLDINGS STATISTICas at 17 D
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NOTICE OF ANNUAL GENERAL MEETINGnum
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Explanatory Note for item 7 above:-
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PROXY FORMHG METAL MANUFACTURING LI
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A META FUSION DESIGN
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