An Important Milestone Year
Transform into Better Future
The year 2017 was another important milestone year marking the development of CWT International Limited, starting from the completion of disposal of intelligent information business to the completion of the acquisition of CWT Pte. Limited (formerly known as CWT Limited) (“CWT SG”). The Company will further explore diversified business opportunities in order to facilitate the Company’s development and create value for the shareholders of the Company.
2017 has been a very exciting and fruitful year for the Company with the successful completion of the acquisition and subsequent de-listing from the Singapore Exchange Securities Trading Limited of CWT SG. Since September 2017, CWT SG has been recognized as a wholly-owned subsidiary of the Company. We have been actively assessing the global market for attractive investment opportunities to continue to develop ourselves into a leading diversified international company.
We believe that the acquisition of CWT SG will provide us with a good opportunity to leverage an established international business platform and management team to capitalize on well-established logistics, commodity marketing and financial services platforms while enhancing our ability to identify and develop new business opportunities. Highlighting the importance of the acquisition to the future of the Company, and as part of our initial integration and branding efforts, HNA Holding Group Co. Limited has been renamed to CWT International Limited.
Belt and Road Initiative to Create Opportunities
The close integration of China’s “Belt and Road Initiative” and the “going global” industrial layout are expected to create new business momentum within modern logistics industry in mainland China. We will explore opportunities in the growing China market to build a stronger engine for the further development of the Company.
Under logistics services in Singapore, value-adding regional distribution hub model is a key focus. With approximately 2.4 million square feet of gross floor area, it is the largest integrated logistics facility in Singapore. We will continue our steadfast commitment to future business expansion.
Under commodity marketing, the business retains a respectable order book. We believe that commodity prices will remain firm which should assist the overall health of the business for this coming year. We are pursuing new avenues of growth that fit logically alongside the existing business and that utilize the knowledge base and experience of our core competences.
Under financial services, the Company will continue to expand and innovate with our product offerings to remain resilient in this service industry and to stay ahead of our competition.
Global Economics and Investment Strategies in 2018
After a generally strong global market in 2017, we remain positive about the global economy for 2018 and beyond. We are keeping an active watch on the developments of China’s “Belt and Road Initiative”, which we believe will be a key driver of future global economy.
In 2018 and beyond we will focus on the ongoing integration of the CWT SG business and in identifying and exploiting potential synergies and opportunities with the Group. We will also continue to explore the market for potential opportunities to complement our existing businesses, especially as they relate to positioning ourselves to take advantage of China’s “Belt and Road Initiative”.
Last but not least, I would like to take this opportunity to express my deep gratitude to all the members of the Board and the employees for your hard work and efforts, and to all the shareholders of the Company who had been unswervingly support the Company. Thank you.
Hong Kong, 24 April 2018