Perennial Real Estate Holdings Limited - Annual Report 2017

We are pleased to submit this annual report to the shareholders of the Company together with the audited financial statements for the financial year ended 31 December 2017. In our opinion: (a) the financial statements set out on pages 162 to 224 are drawn up so as to give a true and fair view of the financial position of the Group and of the Company as at 31 December 2017 and the financial performance, changes in equity and cash flows of the Group for the year ended on that date in accordance with the provisions of the Companies Act, Chapter 50 of Singapore (the “ Companies Act ”) and Singapore Financial Reporting Standards; and (b) at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due. The Board of Directors has, on the date of this statement, authorised these financial statements for issue. DIRECTORS The directors in office at the date of this statement are as follows: Kuok Khoon Hong Ron Sim Eugene Paul Lai Chin Look Ooi Eng Peng Lee Suan Hiang Chua Phuay Hee Pua Seck Guan ARRANGEMENTS TO ENABLE DIRECTORS TO ACQUIRE SHARES AND DEBENTURES Except for the disclosure under the “Directors’ interests in shares or debentures” and “Share options” sections of this statement, neither at the end of nor at any time during the financial year was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. DIRECTORS’ INTERESTS IN SHARES OR DEBENTURES According to the register kept by the Company for the purposes of Section 164 of the Companies Act, particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and infant children) in shares, debentures, and share options in the Company and in related corporations (other than wholly-owned subsidiaries, excluding Perennial Treasury Pte. Ltd.) are as follows: Holdings registered in the name of directors Holdings in which directors are deemed to have an interest Name of director At beginning of the year At end of the year At beginning of the year At end of the year The Company Ordinary shares Kuok Khoon Hong – – 607,274,031 (1) 592,448,031 (2) Ron Sim (3) 253,370,564 254,421,564 2,059,035 2,059,035 Ooi Eng Peng 78,634 78,634 – – Lee Suan Hiang (4) 200,000 200,000 200,000 200,000 Pua Seck Guan 7,139,168 7,139,168 164,024,526 (5) 164,024,526 (5) $300 million 3-year 4.65% Retail Bonds due 2018 Kuok Khoon Hong (6) – – 20,000,000 20,000,000 $280 million 4-year 4.55% Retail Bonds due 2020 Kuok Khoon Hong (7) – – 33,713,000 33,713,000 Annual Report 2017 152 PERENNIAL REAL ESTATE HOLDINGS LIMITED DIRECTORS’ STATEMENT