AI assistant
GLG CORP LTD — AGM Information 2012
Nov 28, 2012
64991_rns_2012-11-28_79946033-4c3e-4dbd-96ae-164b057d3067.pdf
AGM Information
Open in viewerOpens in your device viewer
GLG CORP LTD Annual General Meeting 29th November 2012 WELCOME
1
GLG CORP LTD – 2012 Annual General Meeting Meeting Format GLG Corp Ltd Results Director’s Review Half-Year Ended 31 December 2005 Accounts and Reports Other Business Close GK Soh Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 2 A Global Textile & Apparel Supply Chain Manager
GLG CORP LTD – 2012 Annual General Meeting
Introductions
GLG Corp
-
Estina Ang Suan Hong – Executive Chairwoman
-
Yong Yin Min - Executive Director
-
Surina Gan Meng Hui – Executive Director
-
Ernest Seow Teng Peng – Independent Non Executive Director
-
Christopher Chong – Independent Non Executive Director (via telephone)
-
Thongviboon – Independent Non Executive Director
-
Joanne Bourke – Company Secretary
Deloitte Touche Tohmatsu
- Carl Harris– Partner
3
A Global Textile & Apparel Supply Chain Manager
GLG Corp Ltd Results
Half-Year Ended 31 December 2005 DIRECTOR’S REVIEW
GK Soh Chief Executive Officer Eu Mun Leong - Chief Financial Officer
6-7 March 2006
4 A Global Textile & Apparel Supply Chain Manager
GLG Corp Ltd
Marketplace Update GLG Corp Ltd Results 2012/2013 Half-Year Ended 31 December 2005 GK Soh Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 5 A Global Textile & Apparel Supply Chain Manager
GLG Corp Ltd: Marketplace Update
GLG Corp Ltd Uncertainty in the economic situation in Europe and the Results US Half-Year Ended 31 December 2005
US retail market is modest but the uncertain status of the European Community have a compounded effect on consumer confidence
Customers expect drastic drop in garment prices due to drop in cotton prices early 2012. Sales decline not in terms of units but prices - GK Soh Chief Executive Officer Labour shortages and rising costsEu Mun Leong - Chief Financial Officer Need for speed to market to react faster to the retail changes
6-7 March 2006
6
A Global Textile & Apparel Supply Chain Manager
GLG Corp Ltd: GLG Response to Marketplace Expand product categories within current customer base to maintain sales volume GLG Corp Ltd Improve lead-times to capture read and react programs Results Half-Year Ended 31 December 2005 New Sales Developments USA: Carters, Dillard's, Perry Ellis, Boscov’s Europe: Gruppocoin
Expand supplier base in search for price and novelty - GK Soh Chief Executive Officer Explo ~~re ne~~ w fabric sources in Korea and China Eu Mun Leong - Chief Financial Officer Uti ~~lize~~ buyer appointed sources for novelty items Management Disciplines Ongoing cost Control and Margin Review; 6-7 March 2006 Close monitoring of Customer Credit Status;
7
A Global Textile & Apparel Supply Chain Manager
Sales Bookings and Shipments Update (US$ Million)
Q1: Jul – Sep Q2: Oct – Dec Q3: Jan – Mar Q4: Apr-Jun Full Year Total |
Actual Sales US$ Million 65.9 63.3 55.7 51.3 236.2 |
FY12 Average FOB Price per Dozen 59.12 54.09 44.08 43.98 50.09 |
Dozen B Million 1.1 1.2 1.3 1.2 4.8 |
Sales ooking s US$ Million 59.5 57.9 53.6 7.78 |
8 FY13 Average FOB Price per Dozen 46.82 48.25 41.23 38.90 |
Dozen Million 1.3 1.2 1.3 0.2 |
Remarks Shipments 100% completed **42% of Bookings shipped. *** |
|---|---|---|---|---|---|---|---|
GLG Corp Ltd
Outlook and Prospects GLG Corp Ltd Results Half-Year Ended 31 December 2005 GK Soh Chief Executive Officer Eu Mun Leong - Chief Financial Officer 6-7 March 2006 9 A Global Textile & Apparel Supply Chain Manager
GLG Corp Ltd 2012/13 Outlook
GLG Corp Ltd Results Half-Year Ended 31 December 2005 Trading conditions in the United States and Europe remain uncertain.
Revenue will be affected as a result of unit price and not actual sales programs or units. Margins will be maintain depending on Fall season which will affect Q4.
Continued to tighten the Cost control, improving the cash GK Soh Chief Executive Officer mana ~~geme~~ nt and collection efficiency Eu Mun Leong - Chief Financial Officer
6-7 March 2006
10
A Global Textile & Apparel Supply Chain Manager
GLG Corp Ltd Annual Accounts
Accounts in the 2012 Annual Report Consideration of accounts Questions or comments?
11
GLG Corp Ltd Resolutions
Approval of the Remuneration Report Re-election of a Director – Christopher Chong Meng Tak Re-election of a Director – Yong Yin Ming
12
GLG Corp Ltd
Resolution 1
Remuneration Report
“That, for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the Remuneration Report as contained in the Company’s annual financial report for the financial year ended 30 June 2012.”
| For | For | Open | Open | Against | Against | Abstain | Abstain | Total | Total |
|---|---|---|---|---|---|---|---|---|---|
| 8, | 8,933,967 | ||||||||
| 911,967 | 0 | 22,000 | 0 | 8,933,967 | |||||
13
GLG Corp Ltd Resolution 2
Re-election of a Director
“In accordance with the Constitution of the Company, Mr Christopher Chong Meng Tak retires by rotation and, being eligible, offers himself for re-election as a Director of the Company”. For Open Against Abstain Total 63 ~~,466,470 0 27,500 0 63,493,9~~ 70
14
GLG Corp Ltd Resolution 3
Re-election of a Director
“In accordance with the Constitution of the Company, Mr Yong Yin Min retires by rotation and, being eligible, offers himself for re-election as a Director of the Company”.
Fo ~~r Open Against Abstain Total~~ 63,466,470 0 27,500 0 63,493,970
15
Thank You
16 A Global Textile & Apparel Supply Chain Manager
Cautionary note on forward-looking statements
This presentation may contain statements regarding the business of GLG Corp Limited and its subsidiaries (‘Group’) that are of a forward looking nature and are therefore based on management’s assumptions about future developments.
Such forward looking statements are intended to be identified by words such as ‘believe’, ‘estimate’, ‘intend’, ‘may’, ‘will’, ‘expect’, and ‘project’ and similar expressions as they relate to the Group. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors.
Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. Such factors that may affect GLG Corp’s future financial results are detailed in our 2010 Annual Report. The reader and/or listener is cautioned to not unduly reply on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward looking statements.
17
A Global Textile & Apparel Supply Chain Manager