%XLOGLQJ 8S )XQGDPHQWDOV r DQQXDO UHSRUW
S
05
Business
Model
Chairman’s
Message
Group Financial
Highlights
Group Financial
Review
Corporate
Milestones
Shipping
Business
Property
Business
Hotel
Business
Mission
Statement
Uni-Asia Shipping has an average age of less than 5 years
and they were built by Japanese shipbuilders. Such ships
DUH RI KLJKHU UHOLDELOLW\ IXHO HưFLHQF\ DQG RI EHWWHU YDOXH
retention. Therefore, with a strong, and relatively young
ƯHHW ZH DUH EHWWHU SRLVHG WKDQ RWKHU SOD\HUV WR EHQHƭW
when the shipping cycle turns around.
In 2015, we acquired two containerships from Akebono
Fund – one wholly owned by Uni-Asia while another under
a joint investment company. The acquisition of these two
containerships provides us the opportunities to enjoy the
upside of the containership market.
For our ships under joint-investment companies, we
currently own 14 ships, of which, 1 will be delivered in 2016
DQG IURP RQZDUGV :KLOH WKH FXUUHQW PDUNHW PD\
apply downward pressure to the values of existing ships in
our joint-investment portfolio, resulting in us taking in fair
valuation losses in 2015, we need to ensure we have new
ships ready when the market turns around. By buying ships
through joint-investment companies, and with delivery
from 2018 onwards, we can ensure we are still a player
when market recovers yet limit our capital outlay.
For shipping related services, we now provide ship
commercial management services to our joint-investment
companies in addition to other suite of services that
ZH SURYLGH :H DUH DOVR H[SORULQJ QHZ PDUNHWV DQG
UHDFKLQJ RXW QHZ FOLHQWV IRU RXU VHUYLFHV LQFOXGLQJ ƭQDQFH
arrangement services. In this regard, we have opened a
UHSUHVHQWDWLYH RưFH LQ 6HRXO 6RXWK .RUHD LQ WR UHDFK
out to potential clients in South Korea. Together with our
+RQJ .RQJ 7RN\R 6KDQJKDL DQG 7DLZDQ RưFH ZH KDYH D
reasonably good presence in North Asia for reaching out to
existing and potential clients. This will help ensure a good
GHDO ƯRZ WR VXSSRUW RXU IHH UHODWHG EXVLQHVV
