SINGAPORE WINDSOR HOLDINGS LIMITED | Annual Report 2015
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The Group posted a loss (net of tax) of approximately
HK$46.4 million in relation with the business restructuring
costs associatedwith our newbusiness ventures inMyanmar
as well as the loss from the discontinued operations of our
printed circuited board (“PCB”) business.
While the one-off financial impact of exiting from our non-
performing PCB business segments was inevitable, we
believe that the capital investment behind our business
ventures in Myanmar will create a strong portfolio of
high-growth consumer-related and infrastructure-related
services.
Transformation Into a Myanmar-focused
Conglomerate Underway
With the Group’s proposed disposal of the entire interests
of our wholly-owned subsidiaries, Windsor Holding
Investments Limited and Windsor Metal Manufacture Co
Limited, the Group’s liabilities is expected to decrease by
approximately HK$193.5 million, thereby strengthening
the Group’s balance sheet and improve our overall liquidity
position.
As the proposed disposal is at a price higher than the book
value of both subsidiaries, this transaction will contribute
positively to the Group’s financial results in FY2016.
The proposed transaction is to be approved in the
forthcoming EGM. And once approved, it will reinforce
the Group’s transformation into a Myanmar-focused
conglomerate.
A Note of Thanks
On behalf of the Board of Directors, I wish to thank our
employees for their dedicated efforts and for the way they
have embraced our new business vision in Myanmar and
culture of entrepreneurship.
To our business partners, we value your partnership and
commitment as we seek to expand our business ventures
in Myanmar to new levels of success.
Wewouldalso like to thank youour bankers andshareholders
for your confidence and trust during this transformative
journey. I would also like to take this opportunity to extend
my heartfelt gratitude to my fellow Board members for
their wise counsel and invaluable contributions.
In conclusion, I strongly believe the future ahead will be an
exciting journey for us all and while we made considerable
progress in FY2015, there is still much to be done to unlock
the Group’s full potential in Myanmar.
Thank You!
HO KWOK WAI
Non-Executive Chairman
