SINGAPORE WINDSOR HOLDINGS LIMITED
| Annual Report 2015
27
CORPORATE GOVERNANCE
REPORT
MATERIAL CONTRACTS AND LOANS
Pursuant to Rule 1207(8) of the Listing Manual of the SGX-ST, the Company confirms that except as disclosed in the
Report of Directors and Financial Statements, there were no other material contracts and loans of the Company and its
subsidiaries involving the interests of the CEO or any Director or controlling shareholder, either still subsisting at the end of
the financial year or if not then subsisting, which were entered into since the end of the previous financial year.
INTERESTED PERSON TRANSACTIONS
The Company has adopted an internal policy in respect of any transaction with an interested person, which sets out the
procedures for review and approval of such transaction.
The aggregate value of interested person transactions during the reporting year was as follows:
Name of interested person
Aggregate value of all interested
person transactions conducted
during the financial year under
review (excluding transactions less
than S$100,000 and transactions
conducted under shareholders’
mandate pursuant to Rule 920)
Aggregate value of all interested
person transactions conducted
under shareholders’ mandate
pursuant to Rule 920 (excluding
transactions less than S$100,000)
FY2015
FY2014
FY2015
FY2014
Loan from Director
– Ho Kwok Wai
HK$22,928,553
(S$4,122,300)
–
–
–
Expenses paid on behalf of Director
– Ho Kwok Wai
–
HK$996,548
(S$161,447)
–
–
USE OF PROCEEDS
The Company raised the net proceeds of approximately S$5.0 million from the placement of 24,480,000 ordinary shares
in the capital of the Company at an issue price S$0.22 for each share which was completed on 27 November 2013. Such
proceeds have been utilised in accordance with the intended purposes as follows:-
1.
approximately S$3.5 million was used to fund the investments and business expansion plans in connection with the
Group’s business in Myanmar; and
2.
the balance of approximately S$1.5 million was used for the working capital requirements of the Group (ie. payment
of professional and consultancy fees incurred in connection with the expansion of business in Myanmar).
