New Lakeside

CORPORATE INFO

Group Structure

Map

New Lakeside Holdings Limited Year Established	:	2002
Company Ownership	:	Public Listed in Singapore Stock Exchange ( SGX )
Bankers	:	United Overseas Bank Ltd
Core Business Description	:	Manufacturing

Overview

The Group’s core business is in the production and sales of apple juice concentrate (“AJC”). As a complementary business, the Group also produces animal feed using apple pomace generated from the production process of apple juice concentrate. During the year, the Group has disposed two wholly-owned subsidiaries namely Sanmenxia Lakeside Fruit Juice Co., Ltd and New Lakeside (Sanmenxia) Co., Ltd (“the Restructuring Exercise”). After the Group’s restructuring exercise, the business of the subsidiaries and a joint venture company are now centralised in Xuzhou, Jiangsu Province and Yuncheng, Shanxi Province of People’s Republic of China which are in the vicinity of the apple-growing area. This allows the sourcing for apples to be easier and at a relatively lower price.

During the 2006/2007 pressing season, the output of apples in China jumped 25% from the previous year. Despite the good harvest, the cost of apples has also risen by 37% which was attributable to the increased demand by many apple juice concentrate producers seeking to expand their capacities. However, the rising cost of apples will not have adverse impact on the earnings of apple juice concentrate producers as the average selling price of apple juice concentrate has also risen by 11% as compared to the previous year, to average of US$ 980 per metric tonne due to the strong global demand.

It is estimated that China exports up to 670,000 tonnes of apple juice concentrate in 2006, 4% more than in the previous year. This allows China to continue achieving a bigger share of the global market and the Group is expected to have benefit from this share of the pie. And with the increase production in 2007/2008 pressing season, the Group expects better results in 2007.

Restructuring Exercise

During the year 2006, the Group undertook a major restructuring of its operations in the PRC. This restructuring exercise involved, amongst other things, the Group disposing two former subsidiaries, namely Sanmenxia Lakeside Fruit Juice Co., Ltd (“Sanmenxia LFJ”) and New Lakeside (Sanmenxia) Co., Ltd (“NLC”). These two former subsidiaries were disposed of on the basis that certain of their assets are retained within the Group. These assets retained are land and building owned by the Sunji branch of Sanmenxia LFJ and stakes in the JV Company registered in the names of these former subsidiaries.

The Group incorporated a new subsidiary, New Lakeside Fruit Juice (Yuncheng) Co., Ltd, taking over the above mentioned land and building to convert it to a 10,000 M/T per annum production facility. The Directors believe that this restructuring exercise will put the Group in a better shape financially to continue its turnaround efforts.

Awards & Qualifications


卫生许可证 Health Permit	徐州市排放污染物许可证 Waste Discharge Permit of Xuzhou city	Kosher Certificate


中华人民共和国卫生注册证书 Health registration of PRC	中华人民共和国卫生注册证书 Health registration of PRC	食品安全管理体系认证证书 Food safety management system certificate

质量管理体系认证证书 Quality Management System Certification	Certificate of Food Safety Management System	Certificate of Quality Management System ISO9001 : 2000