Osim international ltd



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Building Value through
Values, Valor
&
Vision
Building Value through
Values, Valor
&
Vision
OSIM INTERNATIONAL LTD
Annual Report 2012


2012
2011
Growth
For year ended 31 December
Sales mm
+$48m
Profit
EBITDA mm Before tax mm After tax mm Net cash flow from operating activities mm
Per share (cents)
Basic earnings
12 10
+20%
Net assets value
26 22
+18%
At year end
Cash & cash equivalents and fixed income investments mm Shareholders funds mm Net cash and fixed income investments mm
Returns on shareholders funds
Profit before tax
59%
59%
Profit after tax
44%
42%
Shareholders value
Dividend per share (cents)
4 3
+33%
Special dividend per share (cents)
2

EBITDA
$
126
million
+13%
Profit after tax
$
87
million
+26%
Sales
$
602
million
+$48 million
Profit before tax
$
115
million
+17%
Calligraphy:
An art form that requires careful thought, strength, character, patience, philosophy and point of view. An apt representation of what drives OSIM forward.
03


2012
2011
Growth
For year ended 31 December
Sales mm
+$48m
Profit
EBITDA mm Before tax mm After tax mm Net cash flow from operating activities mm
Per share (cents)
Basic earnings
12 10
+20%
Net assets value
26 22
+18%
At year end
Cash & cash equivalents and fixed income investments mm Shareholders funds mm Net cash and fixed income investments mm


Returns on shareholders funds
Well positioned for steady and sustainable growth
Building value through values, valor & vision
Mr ron simage 54
Mr peter lee
Mr richard leow
Ms teo sway heong
Mr tan soo nan
We plan before dipping our brushes into the ink
Ms cynthia poa
Shareholdings (including deemed interests)
Grinding our ink stones to record
Summarised profit & loss accounts
Summarised balance sheets
Number of outlets
Risk factorscompany specific risks
Company specific risks
Osim international ltd
Board of directors
Principle 2: board composition and guidance
Principle 3: chairman and chief executive officer (“ceo”)
Principle 6: access to information
Board committees
Principle 5: board performance
Audit committee (“ac”)
Principle 13: internal audits
Remuneration committee (“rc”)
Communication with shareholders
Dealings in securities
Interested person transactions
Material contracts
Osim (china) co, ltd
Australialc lifestyle pty ltd
Lebanonjreissati enterprises sal
Arrangements to enable directors to acquire shares and debentures
Held by director
Directors’ contractual benefits
Share options (cont’d)
Group and company
Share options (contd)
Audit committee (cont’d)
Ron simdirectorpeter lee
Management’s responsibility for the financial statements
Auditor’s responsibility
Report on other legal and regulatory requirements
Total equity200,372 168,507 89,548 110,892non-current assets
Net current assets
Profit before taxation
Attributable to equity holders of the company
Cash flows from investing activities
Net cash flow (used in)/generated from financing activities
Notes to the financial statements
Summary of significant accounting policies
Changes in accounting policies
Summary of significant accounting policies (cont’d)
Significant accounting estimates and judgments
Impairment of goodwill
Provision for warranties
Provision for restoration costs
Impairment of non-financial assets
Basis of consolidation and business combinations
Business combinations
Transactions with non-controlling interests
Consolidated financial statements
Subsidiaries
Other intangible assets
Franchise, development rights and trademarks registration costs
Subsequent measurement
Loan and receivables
Available-for-sale financial assets (cont’d)
Regular way purchase or sale of a financial asset
Financial assets carried at amortised cost
Financial assets carried at cost
Other financial liabilities
Provision for restoration cost
Employee leave entitlement
Sale of goods
Rental income
Share capital and treasury shares
Share capital and treasury shares (cont’d)
Enterprise expansion funds
Capital reserves
Groupcompany
Revaluation reserve
Net carrying amount
Fixed assets (cont’d)
Subsidiaries (cont’d)
Held through victoria house pte ltd
Recognised on
Additional capital injection in a subsidiary
Incorporation of a wholly owned subsidiary
Associates and a joint venture
Associates and a joint venture (cont’d)
Associates2012
Accumulated amortisation and impairment loss
Goodwill2012
Long-term investments
Long-term receivables
Trade debtors
Groupindividually impaired
Other debtors, deposits and prepaid operating expenses
Convertible bonds
Cash and cash equivalents
Note b provision for restoration costs
Interestpresent value
Employee benefits (cont’d)
Revenue income from sale of goods is recognised upon delivery of goods and acceptance by customers.29.
Profit before taxation
Interest expenses and interest income
Taxation (cont’d)
Global trader programme
Tax consequences of proposed dividends
Dividendsgroup and company
Related party disclosures
At 1 january
Segment information (cont’d)
Segment liabilities:
Financial risk management objectives and policies
Interest rate risk
Liquidity risk
Financial risk management objectives and policies (cont’d)
Market price risk
Financial instruments
Quoted prices
Financial instruments (cont’d)
Financial liability:
Financial instruments by category
Total236,127
Financial instruments by category (cont’d)
Capital management
Tenure (years)
Size ofshareholdings
Direct interest
As special business
Authority to issue shares under the osim share option scheme
Renewal of shareholders mandate for interested person transactions
Renewal of share buyback mandate
Average closing price
Appendix i 164
Proposed renewal of the shareholders mandate
Chapter 9 of the listing manual
Shareholders’ mandate
Nature and scope of the interested person transactions contemplated under the shareholders mandate
Class of interested persons
Review procedures for interested person transactions
Rationale and benefit
Validity period of the shareholders mandate
Disclosure of interested person transactions pursuant to shareholders mandate
Interests of directors and substantial shareholders
Substantial shareholders
Statement of the audit committee
Directors’ recommendation
Approvals and resolutions
Documents for inspection
Definitionsin this appendix ii, the following definitions apply throughout unless otherwise stated:general
Depositor” and “depository agent
Renewal of the share buyback mandate
Share buyback mandate
Terms of the proposed share buyback mandate
Status of purchased or acquired shares
Source of funds
Financial effects
Shareholders should note that the financial effects set out below are for illustrative purposes only. it should be noted that the
Market purchases
Off-market purchases
Shares repurchased or holdall or part of the shares repurchased in treasury.
Share buybacks made by the company in the past 12 months pursuant to the share buyback mandate
Share buybacks made by the company in the past 12 months pursuant to the share buyback mandate (cont’d)
Osim international ltd



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