ON TIME LOGISTICS HOLDINGS LIMITED () (: 6123) 2014
2 3 4 8 11 24 34 35 36 37 39 41 43 110
Hartmut Ludwig Haenisch Dennis Ronald de Wit HKICPAFCCA 9 1 18 Codan Trust Company (Cayman) Limited Cricket Square Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands 183 22 1 www.ontime-express.com 6123 Cricket Square Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands 2014 2
18.8% 3
3,468.1 3,161.3 9.7%9.6%509.8 465.2 14.7%14.7% 28.3%59.646.4 68.5% 68.2% World Cargo Alliance 2,375.52,154.6 10.3% 264.7 315.519.2% 9.2% 17.6% 55 4413 38.5%3.4% 26.3% 15.2% 2014 4
28.1% 28.4% 8.6%974.5897.2 153.0158.9 106,272106,567 0.3% 3.2 3.6 1.3% 1.8% 45.158.2 24.8 26.4 69.847.6 13.311.5 356.1254.7 39.8%1.46 1.79 5
243.0163.9 48.3% 68.3 9.2 148.9 165.433.4% 47.6% 0.45% Hartmut Ludwig Haenisch 11.1 3.7 96,539.8105,592.2 2014 6
28,000 1,100 1,030 13.18 (i)80 (ii)60 36.6 125.2 40% 125.2 149 7
56 Freight Express International Ltd. Freight Express International Ltd. 31 Golden Strike International Limited Hartmut Ludwig HaenischHaenisch 50 Haenisch Haenisch Freight Express International Ltd. HaenischFreight Express International Ltd.21 Haenisch University of Osnabrück HaenischPolaris International Holdings Limited 49 Gemex Trading Limited Freight Express International Ltd. 22 Bolton Institute of Higher EducationUniversity of Bolton 2014 8
40 16 Dennis Ronald de WitD.R. de Wit 56 D.R. de Wit OTX Logistics B.V. Allfreight International B.V. D.R. de Wit D.R. de Wit Beheer B.V.Internationaal Expeditiebedrijf Ebrex Air B.V. OTX Logistics B.V.D.R. de Wit 51 1822499 8172 352 493 723 1300 3823 55 (University of Manchester) 26 1143 9
B.B.S. 65 20 Swire Air Catering Services Limited Cathay Pacific Catering Services (HK) Limited 43 (University of Huddersfield) 44 20 Barbara Beckmann Hoffmann 40 Barbara 20 41 1710 ISO 9001: 2008 ISO 14001: 2004 Louis Francois Frederic Malouvier 36 Derudder SAMalouvier Bofill & Arnan S.A. Bofill & Arnan S.A. Bofill & Arnan S.A. 2014 10
109.8(i) 42.2 (ii) 3.5(iii) 8.1 (iv) 10.2 (v) 36.6 (vi) 9.2 36.62.8 46 35 97,000,000 48.50 1.66,640,000 110 11
492,000 17 18 36 45 45 Hartmut Ludwig Haenisch Dennis Ronald de Wit Haenisch 2014 12
571 XV 352 / 1 * 2 192,000,000 (L) 46.27% Hartmut Ludwig Haenisch 3 105,000,000 (L) 25.30% 4 3,000,000 (L) 0.72% Dennis Ronald de Wit OTX Logistics B.V. 5 21,575 (L) 25% * 1. L 2. Golden Strike International Limited 3. Haenisch Polaris International Holdings LimitedHaenisch Haenisch Haenisch 4. 5. OTX Logistics B.V. D.R. de Wit75% T.Y.D. Holding B.V. D.R. de Wit T.Y.D. Holding B.V. D.R. de WitT.Y.D. Holding B.V. OTX Logistics B.V. XV 352 13
44 Haenisch D.R. de Wit 3.13 10% 40,000,0009.64% 10% 2014 14
30% 1% 21 1 (i) (ii) (iii) 44 5% 3 14A 15
OTX Logistics B.V.OTX Logistics Holland (i) D.R. de WitD.R. de Wit Beheer B.V.(ii) D.R. de Wit D.R. de Wit Beheer B.V. OTX Logistics Holland D.R. de WitD.R. de Wit 14,658 8%D.R. de WitOTX Logistics Holland Westpoort Recon B.V. OTX Logistics Rotterdam B.V. OTX Solutions B.V. Fashion Care Logistics B.V.OTX Logistics Holland 5% D.R. de Wit168,004 1.7 OTX Logistics Holland D.R. de Wit OTX Logistics Holland T.Y.D. Holding B.V.25% On Time Worldwide Logistics Limited OTX Logistics Holland OTX Logistics Holland OTX Logistics HollandOTX Logistics Holland OTX Logistics Holland 50/50 3.9OTX Logistics Holland0.7 OTX Logistics Holland HKEx-GL73-14 2014 16
On-Time Worldwide Logistics Limited33.5% Ruchirek PipatsriswatRuchirek (1) Ruchirek Ruchirek3,350,000 Ruchirek (2) Ruchirek Ruchirek 33.5% Ruchirek (3) Ruchirek (4) Ruchirek Ruchirek Ruchirek 1.3% 1.7% 82.5% 17
On Time Worldwide Logistics (Vietnam) Co. Ltd.49% Dynamic Freight Co., Ltd. (1) 4,900 (2) 49% (3) (4) 2.3% 1.9% 2014 18
740 14A.56 (1) (2) (3) 19
336 : / / (1) * 2 192,000,000 (L) 46.27% 2 192,000,000 (L) 46.27% Haenisch 3 105,000,000 (L) 25.30% 3 105,000,000 (L) 25.30% Ruan David Ching-chi 37,424,000 (L) 4 5 9.02% 37,424,000 (L) 4 5 9.02% Rays Capital Partners Limited 37,424,000 (L) 4 5 9.02% Asian Equity Special Opportunities Portfolio Master Fund Limited 24,962,000 (L) 4 5 6.01% Bank of America Corporation 22,290,600 (L) 6 5.37% Bank of America Corporation 22,290,600 (S) 6 5.37% * 2014 20
1. L S 2. 3. Haenisch HaenischHaenisch Haenisch HaenischHaenisch Haenisch Haenisch 4. 5. Ruan David Ching-chiAsian Equity Special Opportunities Portfolio Master Fund Limited Rays Capital Partners Limited 6. Bank of America Corporation Bank of America Corporation 336 44 Haenisch Golden Strike International Limited Polaris International Holdings Limited 21
42 30% OTX Logistics, Inc. 2014 22
183 22 A.2.1 A.2.1 47 23
A.2.1 A. A1. A2. Hartmut Ludwig Haenisch Dennis Ronald de Wit 2014 24
A. A2. 3.10 3.10A / A3. A.2.1 A4. 25
A. A4. Haenisch A5. A.6.5 Hartmut Ludwig Haenisch Dennis Ronald de Wit 2014 26
A. A6. / 2/2 1/1 1/1 Hartmut Ludwig Haenisch 2/2 2/2 2/2 1/1 Dennis Ronald de Wit 2/2 2/2 2/2 1/1 1/1 1/1 2/2 2/2 1/1 1/1 1/1 2/2 2/2 A7. B. 27
B. B1. B2. B.1.2(c)(ii) A6 B.1.5 500,000-1,000,000 2 1,000,001-1,500,000 3 14 B3. A.5.1 2014 28
B. B3. A.5.6 A6 20%60 20% 30% 20% B4. 3.10(2) 29
B. B4. A6 B5. D.3.1 A6 2014 30
C. D. E. F. 1,230,000 400,000 75,000 25,000 1,730,000 31
G. www.ontime-express.com 9 1 18 tiffany.wong@chq.ontime-express.com (852) 2998 4626 (852) 3586 7681 H. www.ontime-express.com 2014 32
I. J. 33
35 109 2014 34
7 3,468,061 3,161,290 (2,958,299) (2,696,130) 509,762 465,160 9 5,109 4,818 (404,658) (378,694) 10 (4,529) (227) (10,015) (12,596) (261) (65) 1,300 408 11 (4,961) (4,757) 91,747 74,047 12 (26,463) (19,072) 13 65,284 54,975 59,573 46,447 5,711 8,528 65,284 54,975 16 17.1 16.3 35
65,284 54,975 1,964 2,735 35 (406) (406) (7) 4 (581) 153 (14,294) 3,254 (13,324) 5,740 51,960 60,715 49,652 51,382 2,308 9,333 51,960 60,715 2014 36
17 8,259 7,809 18 52,147 51,293 19 16,065 18,111 20 25,743 21,773 21 104 61 22 4,912 4,193 23 4,834 24 101 35 272 338 107,502 108,513 24 480,624 549,780 24 62,784 69,528 25 1,044 1,086 26 51 23 2,131 28 4,579 3,248 29 15,011 27 5,723 30 1,052 27 388 30 677 890 2,412 31 11,088 3,706 31 242,978 163,885 809,710 812,955 37
32 294,686 378,889 27 543 30 535 29 969 9,489 11,253 33 549 584 34 148,865 165,446 453,589 558,219 356,121 254,736 463,623 363,249 32 2,483 1,565 33 636 1,033 35 14,941 13,391 18,060 15,989 445,563 347,260 36 41,500 20,670 375,783 299,248 417,283 319,918 37 28,280 27,342 445,563 347,260 35 109 2014 38
c d 20,909 203 3,218 2,136 6,441 260,505 293,412 18,385 311,797 46,447 46,447 8,528 54,975 2,735 2,735 2,735 (406) (406) (406) 4 4 4 153 153 153 2,449 2,449 805 3,254 2,606 2,329 46,447 51,382 9,333 60,715 36 100 100 100 a (339) 241 98 38 (14) (14) (362) (362) (24,976) (24,976) (24,976) 909 (909) 20,670 241 203 98 5,824 3,045 8,770 281,067 319,918 27,342 347,260 20,670 241 203 98 5,824 3,045 8,770 281,067 319,918 27,342 347,260 59,573 59,573 5,711 65,284 1,964 1,964 1,964 (406) (406) (406) (7) (7) (7) (581) (581) (581) (10,891) (10,891) (3,403) (14,294) (11,479) 1,558 59,573 49,652 2,308 51,960 39
c d b (20,480) 315,989 (295,509) 36d 10 24,966 24,976 24,976 36f 29,800 (29,800) 36g 10,000 108,000 118,000 118,000 36h 1,500 16,200 17,700 17,700 (15,258) (15,258) (15,258) c (705) (705) 705 4 4 15 (97,000) (97,000) (97,000) (2,079) (2,079) 3,154 (3,154) 41,500 420,338 203 (295,411) (705) (5,655) 6,199 10,328 240,486 417,283 28,280 445,563 (a) 1 241,000 500,000 50,000 On Time Worldwide Logistics Limited389,000 (b) 316,029,000 1400,000 0.1 20,520,000 (c) 705,000 OTX Logistics B.V. ( OTX Logistics Holland )25%OTX Logistics Holland (d) 2014 40
91,747 74,047 (853) (1,270) 4,961 4,757 261 65 (1,300) (408) 10,024 9,516 3,137 2,629 498 355 6,681 6,049 42 (1) 536 (492) (456) 38 14 (621) (705) 114,085 95,128 55,255 (116,736) 5,012 (15,683) 51 (2,364) 3,721 (753) (77,927) 39,875 (543) (1,561) 92,816 4,744 (24,503) (13,923) 68,313 (9,179) 853 1,270 (10,217) (12,882) (1,881) (53,687) 15,263 (4,970) 514 (707) 1,729 388 38 (1,116) 2,395 8,469 (9,881) (10,494) (311) (9,350) 410 883 (66,864) (16,458) 41
(7,257) 3,481 1,163 20,190 (4,961) (4,757) 233,279 164,031 (243,597) (131,073) (2,079) (362) (36,600) (24,976) 24,976 51,713 (969) (48,708) (535) 456 (880) (1,462) 4 135,700 (15,258) 82,986 28,533 84,435 2,896 163,885 160,054 (5,342) 935 242,978 163,885 242,978 163,885 2014 42
1. Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands 9 1 18 Hartmut Ludwig Haenisch Haenisch 500,000 0.1 8 399,992 21 22 46 2. 10 12 27 32 36 39 21 43
2. 36 36 36 9 6 14 4 15 5 1 3 16 3 38 16 3 41 19 1 27 3 10 3 12 28 10 3 28 11 3 2 1 3 1 2 3 4 5 6 2014 44
2. 9 9 9 9 a b 9 39 9 39 9 62211 9 32 45
3. 2 17 2 36 2014 46
3. (i) (ii) 39 1219 47
3. 2014 48
3. 39 36 36 49
3. 2014 50
3. 51
3. 2014 52
3. 53
3. (i) 37 (ii) 2014 54
3. 55
3. 12 2014 56
3. 4. 3 57
4. 24 480,624,000 549,476,00013,269,000 9,886,000 16,065,000 18,111,000 19 25,743,000 21,773,000 6 17 18 25 26 2014 58
4. 25% 5. 34 6. (a) 1,044 1,086 51 773,679 775,937 436,309 538,526 1,185 1,617 (b) 59
6. (b) (i) 50 50 616,000690,000 2014 60
6. (b) (i) 235,349 289,061 8,876 25,820 2,267 7,751 146 81 1,154 1,834 870 889 27,235 21,539 498 2,537 2,020 3,425 355 288 33 1,200 1,266 (57,680) (104,541) 20,790 (79,010) (435) (3,864) 10% 10% 10% 10% 61
6. (b) (i) (2,427) (1,278) (2,059) 4,137 13 (34) 7% 61,000 63,000 (ii) 42 2014 62
6. (b) (ii) (iii) 194,981,000 46,987,000 63
6. (b) (iii) 6 6 1 1 % 22,507 262,454 2,483 287,444 287,444 3.12 148,865 148,865 148,865 1.62 287 316 673 1,276 1,185 171,372 262,741 316 3,156 437,585 437,494 6 6 1 1 % 35,666 333,802 1,565 371,033 371,033 543 543 543 535 535 535 969 969 969 3.23 165,446 165,446 165,446 2.66 472 172 1,131 1,775 1,617 916 916 203,159 335,190 172 2,696 541,217 540,143 42 2014 64
6. (b) (iii) 6 6 1 1 42,872 42,872 42,640 37,867 2,594 13,710 54,171 52,958 (c) 1,044 1,044 1,086 1,086 51 51 65
6. (c) 25 1,044 1,086 26 51 7. 8. 2014 66
8. (a) 2,375,490 2,154,586 247,576 200,425 974,528 897,240 116,385 127,242 3,164 3,593 2,044 1,511 45,094 58,237 12,008 13,966 69,785 47,634 13,330 11,509 3,468,061 3,161,290 391,343 354,653 5,109 4,818 (4,529) (227) (296,254) (280,783) (261) (65) 1,300 408 (4,961) (4,757) 91,747 74,047 3 (b) (c) 1,428,822 1,398,665 615,923 435,308 89,762 91,334 80,787 59,488 360,652 375,086 482,745 425,275 373,927 332,245 35,443 43,889 3,468,061 3,161,290 67
8. (c) 46,944 40,957 11,035 11,443 1,140 815 916 1,435 2,338 2,325 37,502 44,677 2,329 2,236 10 33 102,214 103,921 (d) 9. 10% 703 991 7 21 143 258 454 462 441 164 140 137 372 249 621 705 2,228 1,831 5,109 4,818 2014 68
10. 38 (14) (498) (355) (42) 1 786 (536) 492 456 (4,481) (565) (4,529) (227) 11. 4,883 4,670 78 87 4,961 4,757 69
12. 5,001 4,928 5,267 3,489 3,885 5,043 460 659 299 318 1,581 1,403 1,957 1,653 18,450 17,493 (398) 5,884 341 (194) 250 85 6,077 (109) 35 920 1,688 1,016 1,936 1,688 26,463 19,072 16.5% 25% 20.0% 25.5% 0% 30% 25% 20% 30% 2014 70
12. 35 91,747 74,047 16.5% 15,138 12,218 1,743 2,870 (2,977) (1,068) 43 11 (214) (67) (191) (375) 1,552 1,014 (911) (1,068) 7,093 (109) 73 3,423 3,637 1,731 1,927 33 9 26,463 19,072 71
13. 6,015 4,407 10,024 9,516 3,137 2,629 7,977 7,479 (1,296) (1,430) 38,414 38,003 14 11,067 4,418 225,296 216,240 23,310 18,035 259,673 238,693 454 462 (58) (45) 396 417 14. 380 5,844 1,652 3,358 1,703 1,020 1,020 465 43 11,067 4,418 2014 72
14. 358 940 1,020 13 2,331 Haenisch 1,163 650 1,813 1,001 584 17 1,602 923 323 17 1,263 Dennis Ronald de Wit 95 2,399 861 418 3,773 95 95 95 95 95 95 380 5,844 3,358 1,020 465 11,067 358 940 1,020 13 2,331 Haenisch 1,170 700 15 1,885 32 19 1 52 29 10 1 40 Dennis Ronald de Wit 63 34 13 110 1,652 1,703 1,020 43 4,418 Dennis Ronald de WitD.R. de Wit Beheer B.V. Dennis Ronald de Wit1.7 14A 73
14. 22 33 5,467 6,157 430 996 139 402 6,036 7,555 1,500,001 1,500,001 2,000,000 1 2,000,001 2,500,000 2 2 2,500,001 3,000,000 3,000,001 3,500,000 1 4,190,000 4,309,000 15. 97,000,000 48.50 1.606,640,000 2014 74
16. 59,573 46,447 347,958,904 285,000,000 154,481 348,113,385 347,958,904 285,000,000 298,000,000 0.10 17. 7,809 7,117 492 456 (42) 236 8,259 7,809 75
18. 20,982 20,919 14,423 11,082 7,037 74,443 8,020 1,972 2,723 1,246 13,961 2,130 2,130 (2,827) (573) (780) (1,877) (6,057) 696 133 196 76 (3) 1,098 23,808 26,245 16,018 13,101 6,403 85,575 4,140 3,272 2,828 427 10,667 1,286 1,286 (559) (356) (1,677) (988) (3,580) (128) (394) (844) (66) (49) (1,481) 24,966 29,432 18,090 14,186 5,793 92,467 29,432 18,090 14,186 5,793 67,501 24,966 24,966 24,966 29,432 18,090 14,186 5,793 92,467 26,245 16,018 13,101 6,403 61,767 23,808 23,808 23,808 26,245 16,018 13,101 6,403 85,575 12,216 7,067 6,919 3,719 29,921 597 3,744 2,224 1,727 1,224 9,516 (605) (605) (2,515) (412) (528) (1,364) (4,819) 8 86 122 30 23 269 13,531 9,001 8,148 3,602 34,282 678 4,340 2,155 1,780 1,071 10,024 (678) (678) (502) (331) (1,196) (643) (2,672) (179) (389) (31) (37) (636) 17,190 10,436 8,701 3,993 40,320 24,966 12,242 7,654 5,485 1,800 52,147 23,808 12,714 7,017 4,953 2,801 51,293 2014 76
18. 20% 20% 5 20% 13,249 13,275 (1,763) (1,407) 11,486 11,868 77
18. 929 1,671 464 194 1,393 1,865 19. 18,111 17,443 (2,046) 668 16,065 18,111 OTX Logistics HollandOTX Logistics Holland OTX Logistics Holland OTX Logistics Holland OTX Logistics Holland OTX Logistics Holland 16.73% 17.74% 2014 78
20. 27,524 27,524 1,053 1,053 28,577 28,577 9,350 9,350 (3,228) (3,228) 25,349 9,350 34,699 3,932 3,932 2,629 2,629 243 243 6,804 6,804 2,631 506 3,137 (985) (985) 8,450 506 8,956 16,899 8,844 25,743 21,773 21,773 OTX Logistics Holland 9,350,000 79
21. 1,109 798 (557) (289) (448) (448) 104 61 Fashion Care Logistics B.V. 25% 25% On Time Worldwide Logistics Limited Connecting Continents Logistics Ltd. 49% 49% On Time Worldwide Logistics L.L.C. 49% 300,000 300 1,000147,000 311,00049% 2014 80
21. (261) (65) (7) 4 (268) (61) 104 61 200 111 200 22. 2,880 2,880 2,032 1,313 4,912 4,193 On Time Worldwide Express B.V. 50% 50% OTX Logistics Rotterdam B.V. 37.5% 37.5% 81
22. 1,300 408 (581) 153 719 561 4,912 4,193 23. 6,615 350 6,965 2,131 4,834 6,965 2.75% 5.5% 3,997 2,131 2014 82
24. 493,893 559,362 (13,269) (9,886) 480,624 549,476 405 480,624 549,881 480,624 549,780 101 480,624 549,881 30 52 0 30 222,751 265,282 31 60 173,343 184,993 61 90 53,114 60,761 91 180 21,125 26,709 180 10,291 12,136 480,624 549,881 0 30 173,343 184,993 31 60 53,114 60,761 61 150 21,125 26,709 150 10,291 12,136 257,873 284,599 83
24. 9,886 4,396 7,977 7,479 (2,902) (637) (1,296) (1,430) (396) 78 13,269 9,886 13,269,000 9,886,000 284 320 13,403 15,217 28,686 31,124 1,935 1,539 10,433 15,590 8,043 5,738 62,784 69,528 25,594,000 29,037,000 2014 84
24. 0 30 25,594 29,037 170,751 235,622 5,780 21,450 909 3,089 22 7 582 1,651 120 36 34 119,927 118,737 (96,280) (95,225) 23,647 23,512 85
25. 26. 51 1 2 500,000 1,000,000 6.506.50 6.42 6.42 2014 86
27. 388,000 5.5% 388 4,970,000 3030 0 60 753 (543) 3,347 (543) 87
28. 290,000 860,000 30 0 30 3,515 2,250 31 60 774 98 61 90 40 4,289 2,388 0 30 774 98 31 60 40 774 138 4,470 2,369 2014 88
29. 6,319 29,485 23,762 Haenisch 8,692 20,299 17,488 15,011 945 24 969 89
30. i 1,042 1,042 1,042 i 2 2 2 Golden Strike International Limited i 4 4 4 Polaris International Holding Limited ii 4 4 4 1,052 Wellport Limited i 677 677 677 i 535 (i) (ii) Haenisch 2014 90
31. 11,088,000 3,706,000 1.09% 2.66% 0% 8.25% 0% 8.10% 55,737 49,545 3,096 373 1,358 2,531 146 59 572 183 750 889 57 58 32. 229,988 295,569 60,744 76,730 6,249 6,343 188 1,812 297,169 380,454 294,686 378,889 2,483 1,565 297,169 380,454 30 91
32. 60 207,481 259,903 61 180 17,858 30,919 181 365 1,225 1,933 1 2 3,424 2,814 229,988 295,569 25,933 20,996 498 2,537 2,020 3,425 33 355 288 1,200 1,266 33. 603 644 549 584 428 697 401 638 245 344 235 307 90 88 1,276 1,775 1,185 1,617 (91) (158) 1,185 1,617 1,185 1,617 (549) (584) 636 1,033 3 0.42% 6.12% 2.15% 6.12% 2014 92
34. 9,945 17,263 42,640 52,958 96,280 95,225 148,865 165,446 42,640 39,758 13,200 42,640 52,958 106,225 112,488 (148,865) (165,446) 2.41% 8.35% 2.71% 8.10% 1,302 11,088,000 119,927,000 (i) 3,706,000 (ii) (iii)haenisch267 (iv) 118,737,000 93
35. (325) (6,016) (1,718) (3,000) 291 (10,768) (479) 670 (1,927) 48 (1,688) (406) (406) 7 (206) (57) 66 (1) (191) (797) (5,552) (2,181) (4,861) 338 (13,053) 399 671 (1,134) (1,731) (141) (1,936) (406) (406) 1 572 12 147 (6) 726 (397) (4,309) (3,709) (6,445) 191 (14,669) 272 338 (14,941) (13,391) (14,669) (13,053) 26,011,000 22,553,000 2,316 143 366 2,495 2,494 4,346 4,342 7,171 11,856 13,035 26,011 22,553 7,762,000 7,464,000 2014 94
36. 0.10 a 3,500,000 350 e 1,996,500,000 199,650 2,000,000,000 200,000 a 1,000,000 100 b 500,000 50 1,500,000 150 c 400,000 40 d 100,000 10 f 298,000,000 29,800 g 100,000,000 10,000 h 15,000,000 1,500 415,000,000 41,500 a. 3,500,000 0.10 1 999,999 b. 500,000 0.10 c. 400,000 0.10 d. 100,000 0.10 24,976,000 e. 1,996,500,000 0.10 350,000200,000,000 f. 29,800,000 298,000,000 0.10 g. 1.18 100,000,000 0.10 h. 1.1815,000,000 0.10 95
36. 37. 49% 49% 70 412 (145) 65 3,283 3,358 OTX Logistics Holland 25% 25% 4,304 5,072 (3,259) 934 20,944 19,899 1,337 3,044 1 (194) 4,053 4,085 5,711 8,528 (3,403) 805 28,280 27,342 2014 96
37. 13,494 16,667 230 257 (7,023) (10,071) 3,418 3,495 3,283 3,358 93,182 96,489 (93,039) (95,648) 143 841 73 429 70 412 143 841 (150) 68 (145) 65 (295) 133 (77) 497 (75) 477 (152) 974 774 (975) (1,790) (48) 141 479 (875) (544) 97
37. OTX Logistics Holland 135,880 159,596 48,935 58,135 (122,941) (157,978) (4,667) (5,939) 36,263 33,915 20,944 19,899 487,692 431,391 (471,319) (412,102) 16,373 19,289 12,069 14,217 4,304 5,072 16,373 19,289 (9,721) 2,808 (3,259) 934 (12,980) 3,742 2,348 17,025 1,045 6,006 3,393 23,031 4,352 9,511 (1,462) (504) (237) (216) 2,653 8,791 2014 98
38. 6,000Sun Logistics International Limited 60% 6 1,122 (372) (537) (179) 34 6 (34) 14 (14) 6 (1,122) (1,116) 99
39. 5% 1,250 1,500 23,775,000 18,078,000 3,940,000 2,458,000 40. 119,927 118,737 1,044 11,088 3,706 132,059 122,443 41. 198 209 163 198 372 1 2 2014 100
41. 29,724 42,957 77,650 71,237 17,163 5,372 124,537 119,566 5,288,400 4,937,000 1 10 42. Haenisch 916,000 43. 450,000 1,079,000 100,000 0.10 24,976,000 29,800,000 298,000,000 0.10 6,956,000 97,000,00060,400,000 101
44. i. 616 704 16,235 29,405 7 21 1,181 983 6 ii. OTX Logistics Rotterdam B.V. 32,856 19,079 2,565 2,037 iii. 1,020 1,020 1,520 1,520 iv. Dennis Ronald de Wit T.Y.D. Holding B.V. 1,556 v. 9,350 40 212,433,000 Haenisch 14A 2014 102
44. 15,959 9,305 531 255 16,490 9,560 45. i 385,387 291 ii 100 336 74,880 460,603 391 1,337 1,337 459,266 391 iii 41,500 150 417,766 241 459,266 391 103
45. (i) 100% (ii) 64 64 64 Haenisch 35 35 35 1 1 1 100 (iii) 100 100 50 241 291 150 241 391 94,428 94,428 94,428 94,428 40 315,989 316,029 10 24,966 24,976 29,800 (29,800) 10,000 108,000 118,000 1,500 16,200 17,700 (15,258) (15,258) 15 (97,000) (97,000) 41,500 420,338 (2,572) 459,266 2014 104
46. Gold Forum International Limited 50,000 100% 100% Harbour Zone Limited 50,000 100% 100% Jumbo Channel Limited 50,000 100% 100% On Time Worldwide Logistics Limited 50,000 100% 100% On Time Worldwide Logistics Limited 4,000,000 70% 70% OTX Logistics Canada Limited 10 51% 51% 2 100% 100% Holicbuy Company Limited Holicbuy 10,000 60% 1 10,000 100% 100% 105
46. 20,000,000 100% 100% 10,000 100% 100% 10,000 100% 100% On Time Worldwide Limited 10,000 75% 75% 500,000 100% 100% 10,000 100% 100% On Time International Logistics Private Limited 33,146,690 100% 100% PT. On Time Express 200,000 95% 95% On Time Worldwide Logistics Company Limited 20,000,000 100% 100% 2014 106
46. On Time Worldwide Logistics Ltd. 300,000,000 51% 51% City Net Global Cargo Sdn. Bhd. 100 100% 100% Courier & Freight Express (Malaysia) Sdn. Bhd. C&F Malaysia 81,000 3 100% On Time International Logistics Sdn. Bhd. OT Int'l Malaysia 230,000 60% 2 60% On Time Worldwide Logistics (Borneo) Sdn. Bhd. OT Borneo 200,000 3 51% On Time Worldwide Logistics Sdn. Bhd. 1,500,000 100% 100% @ 12,000,000 100% 100% On Line Service Pte. Ltd. On Line Singapore 10,000 3 100% On Time Worldwide Logistics Pte. Ltd. 110,000 70% 70% 107
46. 7,500,000 100% 100% On-Time Worldwide Logistics Limited 10,000,000 82.5% 5 82.5% 5 OTX Logistics Holland 86,300 75% 75% OTX Solutions Holland 18,000 45% 4 45% 4 Westport Recon B.V. 18,151 75% 75% OTX Logistics Inc. 250,000 100% 100% On Time Worldwide Logistics DWC-LLC 300,000 100% 100% On Time Worldwide Logistics (Vietnam) Co., Ltd. 80,000 100% 6 100% 6 @ 2014 108
46. 1. Holicbuy 2. OT Int l Malaysia 3. C&F Malaysia OT Borneo On Line Singapore 4. OTX Solutions Holland OTX Logistics HollandOTX Logistics Holland OTX Solutions Holland 40% OTX Solutions Holland 45% 5. 33.5% 6. 49% 7. 8. 47. 81,873 50% 3,012,0001.65 109
3,468,061 3,161,290 2,633,886 2,319,867 91,747 74,047 58,004 64,432 26,463 19,072 13,731 10,286 59,573 46,447 37,830 51,218 5,711 8,528 6,443 2,928 107,502 108,513 99,997 101,197 809,710 812,955 684,850 506,000 917,212 921,468 784,847 607,197 453,589 558,219 458,880 331,775 463,623 363,249 325,967 275,422 18,060 15,989 14,170 13,565 445,563 347,260 311,797 261,857 41,500 20,670 20,909 20,909 369,143 299,248 272,503 229,580 6,640 417,283 319,918 293,412 250,489 28,280 27,342 18,385 11,368 445,563 347,260 311,797 261,857 2014 110