GLG CORP LTD For personal use only - Home - Australian ... · PDF file2 GLG Corp Ltd Results Half-Year Ended 31 December 2005 A Global Textile & Apparel Supply Chain Manager GK Soh

1

GLG CORP LTDAnnual General Meeting

29th November 2013

WELCOME

For

per

sona

l use

onl

y

2

GLG Corp LtdResultsHalf-Year Ended 31 December 2005

A Global Textile & Apparel Supply Chain Manager

GK Soh - Chief Executive Officer

Eu Mun Leong - Chief Financial Officer

6-7 March 2006

GLG CORP LTD – 2013 Annual General Meeting

Director’s Review

Accounts and Reports

Other Business

Close

Meeting Format

For

per

sona

l use

onl

y

3A Global Textile & Apparel Supply Chain Manager

GLG Corp - Board

• Estina Ang Suan Hong – Executive Chairwoman

• Yong Yin Min - Executive Director

• Surina Gan Meng Hui – Non-Executive Director

• Ernest Seow Teng Peng – Independent Non Executive Director

• Christopher Chong – Independent Non Executive Director

• Vi boon – Independent Non Executive Director

• Joanne Bourke – Company Secretary

Deloitte Touche Tohmatsu

• Carl Harris– Partner

GLG CORP LTD – 2013 Annual General Meeting

For

per

sona

l use

onl

y

4





6-7 March 2006

DIRECTOR’S REVIEW

For

per

sona

l use

onl

y

5





6-7 March 2006

GLG Corp Ltd

Market Place Update

2013 / 2014

For

per

sona

l use

onl

y

6





6-7 March 2006

GLG Corp Ltd: Marketplace Update

US Economic Recession – Uneven Recovery

o US retailers have reported tepid sales in 2013, (due to stress of higher payroll taxes, expensive gasoline and a slow job market four years after

the U.S. economy started to rebound).

o Consumers spending remains low as they remain cautious in their

spending during a slow economic recovery.

o Turning their attention to discount stocks in the retail sector to stretch their dollar.

o Sales at U.S. stores are expected to climb less this Holiday 13 season vs Holiday 12 season.

o Retail experts predicted it will be slow going for the industry for 2014

For

per

sona

l use

onl

y

7





6-7 March 2006


Global Cotton Production down by 11% – Expect Higher prices in 2014

o This would be the second consecutive season of decline in cotton production

(ie smallest output in 4 years).

o Production is expected to fall sharply in the US and Turkey, where competition

with competing crops are strong. Smaller crops yield projected in China, India, Pakistan Central Asia and Africa.

Rising Labour Rates

o Labour rates in our countries of production have gone significantly. Indonesia

and China have gone up by 35% and 42% respectively.

o We could expect to see a continued trend in the increase in wages in 2014For

per

sona

l use

onl

y

8





6-7 March 2006


Trans- Pacific Partnership (TPP) – A Game Changer

o TPP is a potential trade agreement currently being negotiation between 13 member

countries which includes USA, Australia, NZ, Canada, Malaysia and Vietnam.

o Negotiations are expected to complete by end Dec 2013 or early 2014.

o Once implemented, we will be able to offer substantial duty savings (as high as

32% for synthetics fabrication) for our USA / Canada customer.

o TPP will dramatically change the global sourcing landscape.

o Control of yarn and fabric production in TPP member countries is crucial to

remain competitive in this industry.

For

per

sona

l use

onl

y

9





6-7 March 2006

GLG Corp Ltd: GLG Response to Marketplace

Expand product categories within current customer base to maintain sales volume.

Improve lead-times enable flexibility for fast-track / contingency programs.

Utilize NYC Office to remain close to market and enhance sales and design services to customers.

New Customer Developments in 2013

USA: GAP, Old Navy, Osh Gosh and Carters,

Europe: Lidl, Gruppocoin

Expand supplier base in search for price and novelty

Explore new yarn/fabric sources in Malaysia and Vietnam due to potential of TPP

Utilize buyer appointed sources for novelty items

For

per

sona

l use

onl

y

10

Sales Bookings and Shipments Update (US$ Million)

FY13 FY14

Actual Sales

Average FOB Price per Dozen Dozen

Sales Bookings

Average FOB Price per

Dozen Dozen Remarks

US$ Million Million US$ Million Million

Q1: Jul – Sep 59.4 46.82 1.3 57.5 44.55 1.3 Shipments 100% completed

Q2: Oct – Dec 57.1 52.47 1.1 61.2 44.33 1.4 29% of Bookings shipped

Q3: Jan – Mar 50.5 43.62 1.2 69.3 39.57 1.5

Q4: Apr-Jun 62.4 38.34 1.6 40.2 36.68 1.1

Full Year Total 229.4 44.61 5.2

For

per

sona

l use

onl

y

11





6-7 March 2006

GLG Corp Ltd

Outlook and Prospects

For

per

sona

l use

onl

y

12





6-7 March 2006

GLG Corp Ltd2013/14 Outlook

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 management and collection efficiency

For

per

sona

l use

onl

y

13

GLG Corp LtdAnnual Accounts

Accounts in the 2013 Annual Report

Consideration of accounts

Questions or comments?

For

per

sona

l use

onl

y

14

GLG Corp LtdResolutions

Approval of the Remuneration Report

Re-election of a Director – Christopher Chong Meng Tak

Re-election of a Director – Vi Boon

For

per

sona

l use

onl

y

15

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 2013.”

For Open Against Abstain Total

7,108,467 39,500 59,480 0 7,207,447

For

per

sona

l use

onl

y

16

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”.


63,518,950 39,500 2,000 5,000 63,565,450

For

per

sona

l use

onl

y

17

GLG Corp Ltd

Resolution 3

Re-election of a Director

“In accordance with the Constitution of the Company, Vi

Boon retires by rotation and, being eligible, offers himself for

re-election as a Director of the Company”.


63,466,470 39,500 54,480 5,000 63,565,450For

per

sona

l use

onl

y

18

Thank You


For

per

sona

l use

onl

y

19

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 2013 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.

For

per

sona

l use

onl

y

Documents

GLG CORP LTD For personal use only - Home - Australian ... · PDF file2 GLG Corp Ltd Results Half-Year Ended 31 December 2005 A Global Textile & Apparel Supply Chain Manager GK Soh