SEO Version
NATURAL COOL HOLDINGS LIMITED
Annual Report 2011
Operations
Review
shift work schedule was introduced to boost the
production capacity so as to meet the increased
orders coming from across the causeway. Moving
ahead, more productivity improvement programmes
can be expected both in terms of equipment
upgrading and manpower development.
On components trading, our subsidiary, VNS
Manufacturing Pte Ltd, continued to record steady
growth amid a diffcult period. Notwithstanding
this, our relationship with Larsen and Toubro
Limited (“L&T”) remained strong as VNS continued
to represent and expand on L&T electrical products
in Singapore. Besides developing its line of quality
products under the licensed brand name “KAM”,
VNS has been an authorised distributor for Hyundai
Heavy Industries Co Ltd’s products in Singapore
for many years now.
With our capabilities as well as our market position,
we successfully acquired Titans Power Holding
Pte. Ltd. (“TPH”) and its subsidiaries in June 2009.
This acquisition is in line with the Company’s vision
of becoming the preferred choice as a one-stop
centre for the production and trading of switchgear
and switchgear apparatus. By leveraging on the
experience of TPH’s senior management who have
been in the business of manufacturing and servicing
switchboards for more than 25 years, the directors
believe that the synergy derived from this strategic
acquisition will further strengthen our position as
one of the leaders in the switchgear business.
The Switchgear Division will continue to explore
expansion opportunities into overseas markets
such as China and the emerging economies of Asia.
Last year, we laid the ground work for a proposed
listing of our wholly-owned subsidiary, Gathergates
Holdings Limited, on the Growth Enterprise Market
(“GEM”) of the Stock Exchange of Hong Kong
Limited (“SEHK”). However, prevailing volatile
market conditions and revised SGX requirements
on proposals for restructuring or Spin-offs, the
Company has discontinued preparations to seek a
listing on the GEM.
Going forward, we will continue to innovate, to
meet the engineering demands of today’s building
and infrastructure projects.
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