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GLG CORP LTDAnnual General Meeting
29th November 2013
WELCOME
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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
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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
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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
DIRECTOR’S REVIEW
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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
Market Place Update
2013 / 2014
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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: 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
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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: Marketplace Update
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
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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: Marketplace Update
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.
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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: 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
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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
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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
Outlook and Prospects
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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 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
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GLG Corp LtdAnnual Accounts
Accounts in the 2013 Annual Report
Consideration of accounts
Questions or comments?
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GLG Corp LtdResolutions
Approval of the Remuneration Report
Re-election of a Director – Christopher Chong Meng Tak
Re-election of a Director – Vi Boon
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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
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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
63,518,950 39,500 2,000 5,000 63,565,450
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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”.
For Open Against Abstain Total
63,466,470 39,500 54,480 5,000 63,565,450For
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Thank You
A Global Textile & Apparel Supply Chain Manager
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Cautionary note on forward-looking statements
A Global Textile & Apparel Supply Chain Manager
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.
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