REPORT OF THE DIRECTORS (CONTINUED)
BUSINESS REVIEW (Continued)
Account of Key Relationships with Employees, Customers and Suppliers (Continued)
Customers
The Group is committed to delivering services of superior quality to our customers. Each of our business units carry out periodic customer satisfaction surveys which consistently show high satisfaction rates. Comprehensive analysis of all results enable the swift identification of opportunities for improvement. Our shipyard operations are certified with the ISO 9001 Quality Management System, which provides strict guidance on ensuring the provision of quality and reliable services. Company- wide, all subsidiaries enact strict policies to observe all customer data privacy and intellectual property rights.
Suppliers
To forge long-term relationships with our suppliers, the Group manages a database of approved contractors and vendors which is regularly subject to review. The Supplier Evaluation Report and Supplier Performance Review is used to assess suppliers' performance in quality assurance, as well as compliance to safety and environmental regulations. The Group's Code of Conduct supports the value of open competition during all tendering procedures, which ensures the impartial selection of competent suppliers and contractors.
Compliance Status with Relevant Laws and
Regulations that have a Significant Impact on the Business
During the reporting year, the Group encountered no cases of non-compliance with applicable standards, laws and regulations on the environment, occupational health and safety, and data privacy in Hong Kong. This regulation continued to pose no material risk to our operations.
MAJOR CUSTOMERS AND SUPPLIERS
The information in respect of the Group's purchases attributable to the major suppliers during the year is as follows:
No analysis in respect of the Group's major customers is shown as the percentage of revenue attributable to the Group's five largest customers is less than 30%.
Apart from the foregoing, at no time during the year have the directors, their associates or any shareholder of the Company (which to the knowledge of the directors owns more than 5% of the number of issued shares of the Company) had any interest in these major customers and suppliers.
SUBSIDIARIES
Details of the principal subsidiaries of the Company at
31 December 2016 are set out in note 14 to the financial
statements.
FINANCIAL STATEMENTS AND
DIVIDENDS
The profit of the Group for the year ended 31 December 2016 and the financial position of the Group at that date are set out in the financial statements on pages 66 to 144.
An interim dividend of HK10 cents per share (2015: HK10 cents per share) was paid on 29 September 2016. The Board of Directors has recommended the payment of a final dividend for the year ended 31 December 2016 of HK26 cents per share (2015: HK26 cents per share). Subject to shareholders' approval at the annual general meeting to be held on Thursday, 25 May 2017 (the "2017 annual general meeting"), the final dividend will be paid on or about Wednesday, 14 June 2017 to shareholders whose names appear on the register of members of the Company on Tuesday, 6 June 2017.
CHARITABLE DONATIONS
Charitable donations made by the Group during the year amounted to HK$7,568 (2015: HK$3,960).
SHARE CAPITAL
Details of the movements in share capital of the Company during the year are set out in note 25 to the financial statements.
The largest supplier
Five largest suppliers in aggregate
14
Percentage of the Group's total purchases
42.4%
54.2%
Hong Kong Ferry (Holdings) Company Limited Annual Report 2016
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