Mr. Neo Cheow Hui
Chief Executive Officer and Executive Director
efficiencies, we will continue to grow prudently in our
integrated logistics solutions and services. We believe
our earlier investments, in particular, the shipping
logistics and infrastructural logistics segments are taking
shape, and these logistics capabilities in these segments
will further strengthened the Group as a significant
player in the logistics related businesses in Asia Pacific.
The Group is well-positioned to turn in an improved
performance for FY2016, barring any unexpected
developments or downturn in global economies.
In July 2015, we entered into a memorandum of
understanding with Viva Industrial Trust Management
Pte. Ltd. (“Viva Industrial Trust”) for the proposed
sale and leaseback of our existing headquarters cum
warehouse property located at 30 Pioneer Road in
Singapore. Upon completion of the legal and building
due diligence in August 2015, the Group signed the
agreement for the sale of the property. This proposed
disposal will unlock cash of approximately S$45 million
from our asset to allow the Group to pursue its
expansion plan to develop its warehouse located at
39 Benoi Road, which is subject to approval from Jurong
Town Corporation on the extension of the lease expiry to
2037.
As part of the agreement, the Group will lease back
its 30 Pioneer Road property for five years. During the
five-year tenure, Viva Industrial Trust will top up another
S$3 million in the sale consideration when the Group
completes the construction of a ramp to connect
30 Pioneer Road and 39 Benoi Road. We will update
our shareholders on the developments as and when
appropriate.
Pursuing Viable Strategic Investment Opportunities
We remain on the lookout for viable strategic investment
opportunities to strengthen our Group.
We will continue to tap on the diverse knowledge,
experience and expertise of our Board of Directors, for
their guidance and connections to broaden our business
segments, and create stable and sustainable income
streams for the Group.
Acknowledgements and Appreciation
On behalf of the Board, we extend our sincere gratitude
to our customers, vendors, business partners, bankers
and dedicated employees for their strong support
throughout the years.
We would also like to convey our sincere appreciation
to the Board and on its behalf, thank the former Board
members – Mr. Neo Kok Ching and Mr. Wang Jian Wen,
for their commitments and invaluable contributions to the
Group, in particular, our heartfelt thanks to our Founder,
Mr. Neo Kok Ching, who has been instrumental to the
growth of GKE Group since its inception in 1995. We
also extend our welcome to Ms. Qian Wen Hua who
joined the Board on 1
st
March 2015. Mr. Wang Jian Ping
is reappointed as the alternate director to Ms. Qian Wen
Hua on 1
st
March 2015.
Last but not least, we extend our warmest gratitude to
our shareholders for their support and confidence in
us, and we look forward to your continued support and
faith as we strive to strengthen the Group and enhance
shareholder value.
Chen Yong Hua
Neo Cheow Hui
Executive Chairman
Chief Executive Officer
and Executive Director
and Executive Director
03
GKE CORPORATION LIMITED
ANNUAL REPORT 2015
