)RU \HDUV WKH 6RXWK $IULFDQ $HURVSDFH 0DULWLPH DQG 'HIHQFH ΖQGXVWU\ $VVRFLDWLRQ SURYLGHG WKH LQGXVWU\ ZLWK VXSSRUW WR JURZ LQ D VXVWDLQDEOH PDQQHU $OWKRXJK WKH 6RXWK $IULFDQ GHIHQFH LQGXVWU\ 6$'Ζ LV VPDOO FRPSDUHG WR WKDW RI PDQ\ RWKHU FRXQWULHV LW ERDVWV D VRSKLVWLFDWLRQ DQG VFRSH WKDW DUH TXLWH UHPDUNDEOH 7KH 6$'Ζ KDV EHHQ WKURXJK GLHUHQW VWDJHV RI GHYHORSPHQW RYHU WKH PRUH WKDQ KDOI D FHQWXU\ RI LWV H[LVWHQFH 6SDZQHG E\ WKH QHFHVVLWLHV RI 6RXWK $IULFDȇV SROLWLFDO LVRODWLRQ WKH 6$'Ζ KDV EHHQ QXUWXUHG XQGHU WKH FRXQWU\ȇV ȵHGJHOLQJ GHPRFUDF\ DQG LV QRZ WDNLQJ LWV ULJKWIXO SODFH DV D PHDQLQJIXO FRQWULEXWRU WR WKH 6RXWK $IULFDQ HFRQRP\ LWV WHFKQRORJLFDO DQG LQGXVWULDO EDVH DQG WKH FRXQWU\ȇV VRFLR HFRQRPLF DQG IRUHLJQ SROLF\ LPSHUDWLYHV 2XU PHPEHUV KDYH FDSDELOLWLHV WKDW UDQJH DFURVV DOO V\VWHP OHYHOV DQG LQFOXGH
$'9(57Ζ6Ζ1* 6833/(0(17
WKH HQJLQHHULQJ GHVLJQ SURWRW\SLQJ LQWHJUDWLRQ DQG WHVWLQJ RI SURGXFWV LQ PRVW GHIHQFH ȴHOGV 6RXWK $IULFD KDV H[FHOOHG LQ GHYHORSLQJ LQQRYDWLYH DUWLOOHU\ V\VWHPV DQG ODQG YHKLFOHV XQPDQQHG V\VWHPV DLUFUDIW PLVVLOHV DQG JXLGHG ZHDSRQV VKLSEXLOGLQJ FDSDELOLWLHV DQG QDYDO FUDIW WR & Ζ56 FRPEDW VXLWHV UDGDU V\VWHPV DYLRQLFV DHUR HQJLQHV VHQVRUV DQG QDQR WHFKQRORJ\ ΖQ DGGLWLRQ RXU VXSSRUW FDSDELOLWLHV XSJUDGHV DQG OLIH H[WHQVLRQV ORJLVWLFV TXDOLW\ DQG FRQȴJXUDWLRQ PDQDJHPHQW ZDU JDPLQJ DQG VLPXODWLRQ DUH VHFRQG WR QRQH 7KHVH SURGXFWV DQG V\VWHPV DUH QRZ ZLGHO\ H[SRUWHG JHQHUDWLQJ IRUHLJQ H[FKDQJH DQG HVWDEOLVKLQJ JOREDO SDUWQHUVKLSV DQG DW WKH VDPH WLPH SURYLGLQJ 6RXWK $IULFD ZLWK VWUDWHJLF VRYHUHLJQ LQGHSHQGHQFH LQ GHIHQFH FDSDFLW\
7RGD\ 6RXWK $IULFDȇV DUPHG IRUFHV DUH HTXLSSHG ZLWK VWDWH RI WKH DUW HTXLSPHQW ZLWK D VLJQLȴFDQW SURSRUWLRQ FRQFHLYHG GHYHORSHG DQG PDQXIDFWXUHG E\ 6RXWK $IULFDQV LQ 6RXWK $IULFD 2XU KRPH JURZQ GHIHQFH V\VWHPV IRUP WKH EDFNERQH RI WKH FRXQWU\ȇV SHDFH VXSSRUW PLVVLRQV RQ WKH $IULFDQ FRQWLQHQW DQG LQ RSHUDWLRQV WR SURWHFW RXU QDWLRQȇV VRYHUHLJQW\ 6LJQLȴFDQWO\ ZLWK PDQ\ RI RXU LQQRYDWLYH VROXWLRQV IURP WKHVH VKRUHV ȴQGLQJ UHDG\ DFFHSWDQFH HOVHZKHUH LQ WKH ZRUOG WKLV XQGHUVFRUHV WKH OHJDF\ RQ ZKLFK WKH 6$'Ζ LV EDVHG 7KLV LV ZKDW PDNHV 6RXWK $IULFD DQG $0' SURXG 6RPH RI WKH 6$'ΖȇV FDSDELOLWLHV DUH KLJKOLJKWHG LQ WKH SDJHV RI WKLV SURȴOH FRPSLOHG VSHFLȴFDOO\ WR FHOHEUDWH $0'ȇV WK DQQLYHUVDU\
$0' <($56 6833257Ζ1* 7+( 6287+ $)5Ζ&$1 '()(1&( Ζ1'8675<
$V WKH UHSUHVHQWDWLYH ERG\ IRU WKH LQGXVWU\ RYHU WKH SDVW \HDUV $0' LQWHQGV WR UHIRFXV RXU DJHQGD XQGHU WKH EDQQHU RI ȊΖQQRYDWLYH ΖQGXVWU\ WRZDUGV 6XVWDLQDEOH *URZWK ȋ $W D UHFHQW URXQG WDEOH GLVFXVVLRQ ZLWK NH\ VWDNHKROGHUV VRPH RI WKH WRSLFV GLVFXVVHG ZHUH Ź Ź Ź Ź Ź
QHZ WHFKQRORJLHV H[SRUWV WKH $IULFD DJHQGD \RXQJ HQJLQHHUV LQFOXGLQJ ZRPHQ DQG 600( FRPSDQLHV
7KHVH DUH LPSRUWDQW IRUZDUG ORRNLQJ LVVXHV WDNLQJ XV VXVWDLQDEO\ LQWR WKH IXWXUH E\ EXLOGLQJ RQ WKH 6$'ΖȇV DFKLHYHPHQWV WR FUHDWH LQQRYDWLRQV IRU WKH \HDUV DKHDG 7KH 6$'Ζ WRGD\ UHPDLQV D QRQ DOLJQHG ZRUOG FODVV LQGXVWU\ WKDW VXSSOLHV HTXLSPHQW DQG VHUYLFHV WR JOREDO RULJLQDO HTXLSPHQW PDQXIDFWXUHUV 2(0V LQ WKH DHURVSDFH PDULWLPH DQG ODQGZDUG HQYLURQPHQWV &KDUDFWHULVHG E\ HQJLQHHULQJ LQJHQXLW\ WHFKQRORJLFDO LQQRYDWLYHQHVV DRUGDELOLW\ UHOLDELOLW\ DQG FRVW HHFWLYHQHVV WKH 6$'Ζ LV D SDUWQHU RI FKRLFH IRU PDQ\ LQFOXGLQJ PXOWLODWHUDO RUJDQLVDWLRQV ZKR VHHN VWDWH RI WKH DUW GHIHQFH HTXLSPHQW IRU SHDFHNHHSLQJ RSHUDWLRQV DQG WR HTXLS WKHLU GHIHQFH IRUFHV $FFRUGLQJO\ LQWHUQDWLRQDO MRLQW YHQWXUHV HTXLW\ SDUWQHUVKLSV DQG VWUDWHJLF DOOLDQFHV
KDYH EHHQ HVWDEOLVKHG ZLWK GHIHQFH FRPSDQLHV LQ PRUH WKDQ WZHQW\ FRXQWULHV ZLWK WKH 6$'Ζ H[SRUWLQJ DSSUR[LPDWHO\ O\ RI LWV SURGXFWV WR FOLHQWV DOO RYHU WKH ZRUOG :H DUH SOHDVHG WR DVVLVW WKH 6$'Ζ LQ LWV FRQWLQXHG GHYHORSPHQW 6RXWK $IULFDȇV 6HFUHWDU\ RI 'HIHQFH 'U 6DP *XOXEH UHFHQWO\ GHVFULEHG $0' DV ȊD FUHGLEOH DQG OHJLWLPDWH UHSUHVHQWDWLYHȋ RI WKH 6$'Ζ DQG ȊD JHQXLQH SDUWQHU WR WKH 6RXWK $IULFDQ JRYHUQPHQW DQG WKH 'R' 'HSDUWPHQW RI 'HIHQFH LQ SDUWLFXODU ȋ +H ODXGHG $0' IRU SDUWLFLSDWLQJ LQ GUDIWLQJ WKH 'HIHQFH 5HYLHZ DQG LQ KHOSLQJ WR RSHUDWLRQDOLVH WKH 1DWLRQDO 'HIHQFH ΖQGXVWU\ &RXQFLO 1'Ζ& ZKLFK DLPV WR DGYDQFH WKH 6$'Ζ $0' $UPVFRU DQG WKH GHSDUWPHQWV RI 'HIHQFH DQG RI 7UDGH DQG ΖQGXVWU\ SURYLGH PDUNHWLQJ VXSSRUW WR WKH LQGXVWU\ VXFK DV ȴQDQFLDO DQG RWKHU DVVLVWDQFH WR SDUWLFLSDWH LQ LQWHUQDWLRQDO GHIHQFH H[KLELWLRQV ΖQ WKLV PDQQHU ZH HQVXUH WKH QHFHVVDU\ H[SRVXUH WR WKH JOREDO PDUNHWSODFH DQG EHVW SUDFWLFH VWDQGDUGV LQ WKH GHIHQFH DUHQD ΖW JLYHV PH JUHDW SOHDVXUH WR SUHVHQW WKH 6$'ΖȇV FDSDELOLWLHV EULHȵ\ LQ WKLV SURȴOH DQG DW PDMRU LQWHUQDWLRQDO GHIHQFH H[KLELWLRQV
6LPSKLZH +DPLOWRQ ([HFXWLYH 'LUHFWRU
$'9(57Ζ6Ζ1* 6833/(0(17
ΖQ P\ FDSDFLW\ DV 0LQLVWHU RI 'HIHQFH DQG 0LOLWDU\ 9HWHUDQV Ζ FRQJUDWXODWH $0' RQ UHDFKLQJ WKH LPSRUWDQW PLOHVWRQH RI \HDUV RI VHUYLFH WR WKH 6RXWK $IULFDQ GHIHQFH LQGXVWU\ 3URXG DV Ζ DP RI $0'ȇV FRQWULEXWLRQ RYHU WKH \HDUV Ζ QRWH LWV UHFHQWO\ DQQRXQFHG SODQV IRU WKH 6$'Ζ :KDW VWDQGV RXW IRU PH LV $0'ȇV LQWHQW WR FRQWLQXH EXLOGLQJ DQG WUDQVIRUPLQJ RXU GHIHQFH LQGXVWU\ IRU LQQRYDWLYH DQG VXVWDLQDEOH JURZWK LQWR WKH IXWXUH 7KLV LV ZRUWK\ RI WKH IXOO VXSSRUW RI P\ GHSDUWPHQW DQG WKH 6$1')
1RVLYLZH 0DSLVD 1TDNXOD 03 0LQLVWHU RI 'HIHQFH DQG 0LOLWDU\ 9HWHUDQV
7KH 6RXWK $IULFDQ $HURVSDFH 0DULWLPH DQG 'HIHQFH ΖQGXVWULHV $VVRFLDWLRQ $0'
UHSUHVHQWV WKH 6RXWK $IULFDQ GHIHQFH LQGXVWU\ 6$'Ζ DQG DVVLVWV LW WR EH SURȴWDEOH VXVWDLQDEOH DQG UHVSRQVLEOH $V VXFK $0' FKDPSLRQV WKH FROOHFWLYH LQWHUHVWV RI WKH LQGXVWU\ 2XU PHPEHUV RSHUDWH LQ WKH SULYDWH DQG SXEOLF VHFWRU VSDFH LQ 6RXWK $IULFD DQG DOVR LQFOXGH OHDGLQJ LQWHUQDWLRQDO FRPSDQLHV ZLWK ORFDO RɝFHV WR VXSSO\ GHIHQFH PDWHULHO SURGXFWV DQG VHUYLFHV $0' DVVLVWV WKH 6$'Ζ FRPSDQLHV LQ WKHLU NH\ UROH ZLWKLQ WKH DFTXLVLWLRQ VXSSO\ FKDLQ WR HQVXUH FRVW HHFWLYH DQG VXVWDLQDEOH VROXWLRQV IRU WKH FOLHQW EDVH 0RUHRYHU WKH 6$'Ζ DGKHUHV WR VWULQJHQW LQWHUQDWLRQDO VWDQGDUGV $0' DOVR DVVLVWV
$'9(57Ζ6Ζ1* 6833/(0(17
LQ HQVXULQJ WKDW WKH 6$'Ζ IXOO\ FRPSOLHV ZLWK VWDWXWRU\ DUPV FRQWURO UHTXLUHPHQWV 2XU PHPEHU FRPSDQLHV QRW RQO\ VXSSO\ SURGXFWV DQG VHUYLFHV WR WKH 6RXWK $IULFDQ 'HSDUWPHQW RI 'HIHQFH 'R' JRYHUQPHQW RUJDQLVDWLRQV DQG RWKHU HQWLWLHV EXW LQ VRPH NH\ LQVWDQFHV DOVR LQFUHDVLQJO\ VORW LQWR WKH VXSSO\ FKDLQ RI PDMRU LQWHUQDWLRQDO 2(0V
"" "$" $ " $ ! ( ! ' $ $ % " $ "% ( $ "%! "$ $ & "%"$ " %$ " ! $ $ "
%\ FUHDWLQJ DQ HQDEOLQJ HQYLURQPHQW IRU WKH 6$'ΖȇV ORQJ WHUP VXVWDLQDELOLW\ $0' EHFRPHV WKH FUHGLEOH UHSUHVHQWDWLYH RI WKH 6$'Ζ LQ FRQWULEXWLQJ WR QDWLRQDO VHFXULW\ LQGXVWULDO DQG WHFKQRORJ\ REMHFWLYHV
$0' <($56 6833257Ζ1* 7+( 6287+ $)5Ζ&$1 '()(1&( Ζ1'8675<
$Q LQGXVWU\ UHSUHVHQWDWLYH ERG\ OLNH $0' LV DEOH WR SOD\ D VLJQLȴFDQW UROH LQ SURPRWLQJ WKH LQWHUHVWV RI WKH LQGXVWU\ 0HPEHUVKLS RI $0' DRUGV RXU PHPEHUV EHQHȴWV WKDW WKH\ ZRXOG KDUGO\ JDLQ RQ DQ LQGLYLGXDO EDVLV $0' FXUUHQWO\ UHSUHVHQWV PRUH WKDQ RI WKH 6$'Ζ
:KLOVW GHIHQFH FRPSDQLHV PDLQWDLQ JRRG UHODWLRQV ZLWK WKH 'R' DV D PDWWHU RI FRXUVH $0' SURPRWHV WKHLU MRLQW LQWHUHVWV WKURXJK D FORVH ZRUNLQJ UHODWLRQVKLS ZLWK WKH 'R' 7KLV WUDQVODWHV LQWR QXPHURXV VXSSRUW LQLWLDWLYHV LQFOXGLQJ H[SRUW VXSSRUW KRVWLQJ RI LQWHUQDWLRQDO GHOHJDWLRQV DUUDQJLQJ GHOHJDWH YLVLWV WR PHPEHUVȇ IDFLOLWLHV DQG SDUWLFLSDWLRQ LQ ELODWHUDO FRPPLWWHH PHHWLQJV ZLWK IRUHLJQ GHIHQFH IRUFHV
6RXWK $IULFDȇV 'HSDUWPHQW RI 7UDGH DQG ΖQGXVWU\ UHFRJQLVHV $0' DV WKH LQGXVWU\ DVVRFLDWLRQ IRU WKH $HURVSDFH DQG 'HIHQFH VHFWRUV DV ZHOO DV D -RLQW ([SRUW $FWLRQ *URXS :RUNLQJ FORVHO\ ZLWK WKH GWL ZH DV $0' KDYH EHHQ DW WKH IRUHIURQW WR JHW WKH GHSDUWPHQW WR GHYHORS D VWUDWHJ\ IRU
WKH GHIHQFH LQGXVWU\ DV D ZKROH $0' LV LQVWUXPHQWDO LQ LGHQWLI\LQJ LQWHUQDWLRQDO H[KLELWLRQV IRU ZKLFK WKH GWL Ȃ WKURXJK LWV (0Ζ$ VFKHPH Ȃ VSRQVRUV 6$'Ζ FRPSDQLHV WR SDUWLFLSDWH DV D QDWLRQDO SDYLOLRQ
:H PDLQWDLQ FORVH UHODWLRQV ZLWK PLOLWDU\ DQG FRPPHUFLDO DWWDFK«V DW 6RXWK $IULFDQ GLSORPDWLF PLVVLRQV WKURXJKRXW WKH ZRUOG WR DVVLVW RXU PHPEHUV LQ WKHLU PDUNHWLQJ HRUWV
%! " ! ! " $ ! " $ ! $' ! $ ! $
%" "" & $ !$% $ " %! "$ ! " " !" ' ! $ ( $ ! $ ' $ & ! $ " %"$!( ( !" $0' IXUWKHU DWWHQGV WR WKH LQWHUHVWV RI RXU PHPEHUV ZLWK DGYLFH RQ DUPV FRQWURO SHUPLW DSSOLFDWLRQV DQG FRXQWU\ VSHFLȴF LQIRUPDWLRQ 7RZDUGV WKLV HQG ZH UHJXODUO\ HQJDJH ZLWK WKH 1DWLRQDO &RQYHQWLRQDO $UPV &RQWURO &RPPLWWHH
$'9(57Ζ6Ζ1* 6833/(0(17
1&$&& D ERG\ KHDGHG E\ D &DELQHW 0LQLVWHU DQG ZLWK WKH 'HSDUWPHQW RI ΖQWHUQDWLRQDO 5HODWLRQV DQG &RRSHUDWLRQ 'Ζ5&2 2XU VPDOOHU PHPEHU FRPSDQLHV EHQHȴW IURP $0'ȇV LQWHUQDO QHWZRUNLQJ WR FUHDWH EXVLQHVV GHYHORSPHQW RSSRUWXQLWLHV DQG RXU KRVWLQJ RI FRQIHUHQFHV DQG VHPLQDUV ZKHUH WKH\ LQWHUDFW ZLWK JRYHUQPHQW RɝFLDOV DQG LQGXVWU\ SOD\HUV ΖPSRUWDQWO\ ZH EULHI WKH 3DUOLDPHQWDU\ 3RUWIROLR &RPPLWWHH RQ 'HIHQFH DW OHDVW RQFH D \HDU ZKLFK JLYHV SDUOLDPHQWDULDQV DQ LQVLJKW LQWR LVVXHV LQYROYLQJ WKH 6$'Ζ $ NH\ DGYDQWDJH IRU RXU PHPEHUV LV $0'ȇV VWDWXV DV D FR KRVW RI WKH ELHQQDO $IULFD $HURVSDFH DQG 'HIHQFH $$'
H[KLELWLRQ DQG KRVWLQJ RI LQWHUQDWLRQDO GHOHJDWLRQV LQ FRQMXQFWLRQ ZLWK WKH 'R' $0' DOVR HQVXUHV H[SRVXUH RI RXU PHPEHUV DQG WKHLU SURGXFWV WKURXJK RXU SURPRWLRQDO PDWHULDOV QRWDEO\ WKH ZHEVLWH DQG WKH 6$'Ζ' GHIHQFH LQGXVWU\ GLUHFWRU\
:LWK RXU PHPEHUVKLS DSSURDFKLQJ FRPSDQLHV $0' UHSUHVHQWV D VLJQLȴFDQW SHUFHQWDJH RI WKH 6$'Ζ :KLOVW PDQ\ RI WKHVH FRPSDQLHV ZRUN H[FOXVLYHO\ LQ WKH GHIHQFH VHFWRU PDQ\ RWKHUV DUH ODUJHO\ QRQ GHIHQFH VXSSOLHUV 7KH\ DUH VWLOO FRQVLGHUHG SDUW RI WKH 6$'Ζ E\ YLUWXH RI SURYLGLQJ VXEV\VWHPV RU VHUYLFHV LQ WKH GHIHQFH HQYLURQPHQW $ NH\ GLHUHQWLDWRU RI WKH 6$'Ζ PDQ\ RI ZKRVH PHPEHUV DUH VPDOO PHGLXP DQG PLFUR HQWHUSULVHV 600(V LV WKDW LW LV VXEMHFW WR VWULQJHQW JRYHUQPHQWDO UHJXODWLRQV IRU QRQ SUROLIHUDWLRQ DQG FRQYHQWLRQDO DUPV FRQWURO )RU 6RXWK $IULFD WKH 6$'Ζ UHSUHVHQWV D YLWDO HOHPHQW RI VWUDWHJLF LQGHSHQGHQFH 1RW RQO\ GRHV LW VORW LQWR WKH YDOXH FKDLQ RI WKH 6RXWK $IULFDQ 1DWLRQDO 'HIHQFH )RUFH 6$1') EXW DOVR FRQWULEXWHV WR WKH QDWLRQDO HFRQRP\ 9HU\ IHZ HPHUJLQJ PLGGOH LQFRPH
FRXQWULHV VWLOO SRVVHVV GRPHVWLF GHIHQFH LQGXVWULHV 6RXWK $IULFD ȴQGV LWVHOI LQ OHDJXH ZLWK WKH OLNHV RI 7XUNH\ DQG WKH %5Ζ&6 QDWLRQV D JURXSLQJ FRQVLVWLQJ RI %UD]LO 5XVVLD ΖQGLD &KLQD DQG 6RXWK $IULFD
$'9(57Ζ6Ζ1* 6833/(0(17
'XH WR WKH LQFUHDVLQJ FRVW RI GHYHORSLQJ DQG PDQXIDFWXULQJ GHIHQFH HTXLSPHQW HYHQ ȴUVW WLHU SURGXFHUV KDYH H[SDQGHG LQWR WUDQVQDWLRQDO RSHUDWLRQV ZLWK WHDPLQJ DUUDQJHPHQWV DOOLDQFHV MRLQW YHQWXUHV DQG HYHQ PHUJHUV DQG DFTXLVLWLRQV 7KH 6$'Ζ LV SULYLOHJHG WR EH SDUW RI QXPHURXV PDMRU LQWHUQDWLRQDO FROODERUDWLRQV DV VHFRQG WLHU FRPSDQLHV LQ WKH DUHDV RI DHURVSDFH ODQG V\VWHPV DQG PDULWLPH SURMHFWV $0' DVVLVWV RXU PHPEHUV WR WDNH DGYDQWDJH RI WKLV JOREDOLVHG SDUDGLJP E\ H[SRVLQJ RXU 6$'Ζ FDSDELOLWLHV WR WKH EURDGHU LQWHUQDWLRQDO PDUNHW 7KLV XQGHUOLHV WKH FRQWHQW RI WKLV 3URȴOH :KLOVW ZH KDUGO\ GR MXVWLFH WR DOO RXU LQGLYLGXDO PHPEHUV DV VSDFH FRQVWUDLQWV OLPLW RXU DELOLW\ WR IHDWXUH WKH HQWLUH VSHFWUXP UHDGHUV DUH LQYLWHG WR WKH ODVW VHFWLRQ ZKLFK FRQWDLQV D OLVW RI RXU PHPEHUV ZLWK FRQWDFW GHWDLOV )HHO IUHH WR DOVR YLVLW RXU ZHEVLWH KWWS ZZZ DPG RUJ ]D
! %$ ! $ ! ! " $" & $ $ "$! $ $ ( " $ " $ $ $ & % $ %$ ! $ ! %$ " $! %$ " $ $ $ (
$0' <($56 6833257Ζ1* 7+( 6287+ $)5Ζ&$1 '()(1&( Ζ1'8675<
)RU DQ LQGXVWU\ DV VPDOO LQ VL]H DV WKH 6$'Ζ RXUV KDV VKRZQ LWVHOI WR EH QLPEOH DJLOH DQG SXUSRVHIXO ΖWV SURGXFWV FRYHU WKH WRWDO VSHFWUXP RI WKH V\VWHPV KLHUDUFK\ IURP EDVH PDWHULDOV OLNH FHUDPLFV IRU DUPRXU DQG SURWHFWLRQ WR SURGXFW V\VWHPV RQ /HYHO 7KH 6$'ΖȇV FRPSHWLWLYH DGYDQWDJH JRHV EH\RQG SULFH DQG TXDOLW\ WR QLFKH VROXWLRQV IRU VSHFLȴF PDUNHW VHJPHQWV 7KLV LV GXH WR DQ RULJLQDO IRFXV RQ GHYHORSLQJ SURGXFWV VXLWHG WR UXJJHG DQG KDUVK HQYLURQPHQWV QRWDEO\ IRU 6RXWK $IULFDQ IRUFHV RSHUDWLQJ RQ WKH $IULFDQ FRQWLQHQW DQG IRU HDVH RI PDLQWHQDQFH LQ WKRVH FRQGLWLRQV $V VXFK WKHVH SXUSRVH EXLOW SURGXFWV GHYHORSHG LQ DFFRUGDQFH ZLWK 1$72 VWDQGDUGV ZRXOG EH VXLWHG WR VLPLODU FRQGLWLRQV DQ\ZKHUH 0RUH LPSRUWDQWO\ WKHVH SURGXFWV KDYH DWWUDFWHG DWWHQWLRQ IURP FXVWRPHUV DQG SDUWQHUV ZRUOGZLGH
7KLV HQGRUVHPHQW LV WHVWLPRQ\ QRW RQO\ WR WKH SURIHVVLRQDOLVP RI RXU SHDFHNHHSLQJ IRUFHV EXW DOVR WR WKH FDSDELOLWLHV RI WKH 6$'Ζ LQ JHQHUDO $ KRVW RI 6RXWK $IULFDQ GHIHQFH FRPSDQLHV LQFOXGLQJ VPDOO DQG PHGLXP HQWHUSULVHV SOD\HG WKHLU SDUW LQ PDNLQJ WKLV Ȇ/HJHQG RI 6RXWK $IULFDȇ ȵ\ Ȃ ZLWK VRSKLVWLFDWHG DUPDPHQWV VHQVRUV SURWHFWLRQ V\VWHPV DQG VXSSRUW ZKHUHYHU LW LV GHSOR\HG 'XULQJ WKH GHYHORSPHQW SKDVHV RI PDQ\ 6$'Ζ DHURVSDFH SURGXFWV QXPHURXV UHVHDUFK HQWLWLHV ZLWK DGYDQFHG IDFLOLWLHV DUH LQYROYHG $V PDQ\ KRPH JURZQ DHURQDXWLFDO V\VWHPV OLNH LQGLJHQRXVO\ GHYHORSHG KHOLFRSWHUV DLUFUDIW DQG WKH LQFUHDVLQJO\ SUHYDOHQW XQPDQQHG DHULDO YHKLFOH V\VWHPV 8$9V PDWXUHG QHZ LQQRYDWLYH SURGXFWV VRRQ VDZ WKH OLJKW RI GD\
:KHQ LQ 2FWREHU 6RXWK $IULFDȇV LQGLJHQRXVO\ GHYHORSHG DWWDFN KHOLFRSWHU WKH 5RRLYDON $+ ȴUHG LWV ZHDSRQV ȊLQ DQJHUȋ IRU WKH ȴUVW WLPH GXULQJ SHDFH HQIRUFHPHQW RSHUDWLRQV LQ WKH HDVWHUQ 'HPRFUDWLF 5HSXEOLF RI &RQJR '5& LW DWWUDFWHG VLJQLȴFDQW DWWHQWLRQ
$0' PHPEHUV VWHSSHG WR WKH SODWH WR GHYHORS LQGLJHQRXV DLU GHIHQFH FDSDELOLWLHV RQ SDU ZLWK WKH EHVW LQ WKH ZRUOG /DUJH 6$'Ζ FRPSDQLHV WRJHWKHU ZLWK QXPHURXV VPDOOHU FRQWUDFWRUV HQVXUHG QRW RQO\ DQ HHFWLYH SURWHFWLYH V\VWHP IRU WKH FRXQWU\ EXW DOVR H[SRUW SRWHQWLDO
2XU KHOLFRSWHUȇV TXDOLWLHV DQG WKRVH RI LWV FUHZV ZHUH ODXGHG E\ VHQLRU 8QLWHG 1DWLRQV RɝFHUV LQ FKDUJH RI WKH 81 SHDFH PLVVLRQ
6RXWK $IULFDȇV PLVVLOH FDSDELOLW\ KDV UHDFKHG VXFK D OHYHO RI PDWXULW\ WKDW RXU $0' PHPEHUV DFWLYHO\ SDUWLFLSDWH LQ MRLQW GHYHORSPHQW SURJUDPPHV ZLWK
$'9(57Ζ6Ζ1* 6833/(0(17
RWKHU QDWLRQV LQFOXGLQJ %UD]LO DQG WKH 8QLWHG $UDE (PLUDWHV
$GYDQFHG DV WKH 6$'ΖȇV DHURQDXWLFDO SURGXFWV DQG VHUYLFHV DUH RXU $0' PHPEHUV RSHUDWLQJ LQ WKH ODQGZDUG GHIHQFH HQYLURQPHQW KDYH SURYHQ WKHPVHOYHV HTXDOO\ DGHSW DW GHYHORSLQJ ZRUOG FODVV VROXWLRQV )URP VPDOO EHJLQQLQJV EHWZHHQ WKH WZR :RUOG :DUV ZKHQ 6RXWK $IULFD SURGXFHG OLJKW DUPRXUHG YHKLFOHV WKH 6$'Ζ XOWLPDWHO\ GHYHORSHG ZKHHOHG LQIDQWU\ ȴJKWLQJ YHKLFOHV Ζ)9V ZKRVH KLJK PRELOLW\ LQ PHFKDQLVHG ZDUIDUH ZDV LQWHUQDWLRQDOO\ QRWHG 2XU PHPEHUV EHFDPH SLRQHHUV LQ WKH GHYHORSPHQW RI ODQGPLQH UHVLVWDQW YHKLFOHV ZKRVH WHFKQRORJLHV ZHUH DGRSWHG HOVHZKHUH LQ WKH ZRUOG DQG OHG WR MRLQW PDQXIDFWXULQJ ZLWK RYHUVHDV SDUWQHUV 6RPH RI WKHVH LQQRYDWLYH PLQH SURWHFWHG YHKLFOH 039 VROXWLRQV KDYH OHG WR ODUJH DQG RQ JRLQJ FRQWUDFWV ZLWK WKH 8QLWHG 1DWLRQV 81 LQ SHDFHNHHSLQJ RSHUDWLRQV DQG ODQGPLQH FOHDUDQFH %XLOGLQJ RQ LWV FRPSHWLWLYH HGJH LQ 039 GHVLJQ WKH 6$'Ζ LV UHQRZQHG IRU FRPEDW WXUUHWV VXFK DV WKH VLQJOH WXUUHW IRU DOO ȴYH YDULDQWV RI WKH 6RXWK $IULFDQ $UP\ȇV QHZ %DGJHU LQIDQWU\ FRPEDW YHKLFOH Ζ&9 2XU ZRUOG OHDGLQJ DUWLOOHU\ V\VWHPV VLPLODUO\ EURXJKW RXU PHPEHUV H[SRUW
VXFFHVV DQG JOREDO DFNQRZOHGJHPHQW 7KH FRQFHSW RI KHDY\ ZKHHOHG DUWLOOHU\ LV QRZ DOVR HPSOR\HG E\ RWKHU PDQXIDFWXUHUV HOVHZKHUH LQ WKH ZRUOG &RPSOHPHQWLQJ WKHVH ODUJH V\VWHPV LV D IXOO UDQJH RI ODUJH PHGLXP DQG VPDOO FDOLEUH ZHDSRQV JUHQDGH ODXQFKHUV DQG DPPXQLWLRQ IRU DUWLOOHU\ LQIDQWU\ ZHDSRQV DQG QDYDO V\VWHPV SURSHOODQWV PLQHÈ´HOG EUHDFKLQJ V\VWHPV URFNHW DQG PLVVLOH VXEV\VWHPV DQG S\URWHFKQLF SURGXFWV
$0' LQYLWHV RXU UHDGHUV RI WKLV 3URÈ´OH WR SHUXVH WKH PHPEHU OLVW RQ WKH EDFN SDJH Î&#x2013;W SURYLGHV DQ LQVLJKW LQWR WKH 6$'Î&#x2013;È&#x2021;V WUXO\ H[WHQVLYH FDSDELOLWLHV :H WDNH JUHDW SULGH LQ WKH FRQWULEXWLRQ RI PHPEHUV ZKRVH RIWHQ VWDUWOLQJO\ FUHDWLYH VROXWLRQV KDYH WDNHQ WKH ZRUOG E\ VXUSULVH +HUH RQH WKLQNV RI VRIWZDUH VHQVRU DQG FRPPXQLFDWLRQV GHYHORSHUV VXSSRUW DQG ORJLVWLFV È´UPV HQJLQHHULQJ DQG FRXQWHUWUDGH FRQVXOWDQWV
$'9(57Î&#x2013;6Î&#x2013;1* 6833/(0(17
6RXWK $IULFD KDV D FRDVWOLQH RI PRUH WKDQ NLORPHWUHV DQG D PDULWLPH HFRQRPLF ]RQH H[WHQGLQJ WR LVODQGV LQ WKH 6RXWK $WODQWLF $ VXEVWDQWLDO SRUWLRQ RI WKH FRXQWU\È&#x2021;V LPSRUWV DQG H[SRUWV WDNH SODFH E\ VHD 6PDOO ZRQGHU WKDW $0'È&#x2021;V PHPEHUVKLS LQFOXGH QXPHURXV FRPSDQLHV ZLWK LQQRYDWLYH VROXWLRQV LQ WKH DUHD RI PDULWLPH HTXLSPHQW 7KHVH PHPEHUV
PDLQWHQDQFH VHUYLFHV PDQXIDFWXUHUV RI DUPRXU DQG SURWHFWLRQ SURGXFWV HYHQ VSHFLDOLVW GHVLJQHUV RI UHGHSOR\DEOH FDPS V\VWHPV :H LQYLWH \RX RXU UHDGHUV WR PHHW XV SHUVRQDOO\ YLVLW RXU GLVSOD\V DQG H[KLELWLRQ ERRWKV WR JHW D UHDO DSSUHFLDWLRQ RI WKH VFRSH RI RXU WHFKQRORJ\ 7KLV 3URÈ´OH KDV EHHQ FRPSLOHG ZLWK WKH VXSSRUW RI RXU PHPEHUV DQG WKH -DQHÈ&#x2021;V E\ Î&#x2013;+6 0DUNLW *URXS LQ /RQGRQ
EDVHG LQ &DSH 7RZQ 'XUEDQ DQG HOVHZKHUH DUH DFNQRZOHGJHG DV EXLOGHUV RI KLJK TXDOLW\ YHVVHOV ZLWK KLJKO\ FDSDELOH VKLSEXLOGLQJ UHSDLU IDFLOLWLHV Î&#x2013;Q WKH RSWURQLF DQG ODVHU SURGXFWV HQYLURQPHQW WKH 6$'Î&#x2013; KDV D VROLG LQWHUQDWLRQDO UHSXWDWLRQ LQFOXGLQJ IRU WKH PDQXIDFWXUH DQG VXSSRUW RI VXEPDULQH SHULVFRSHV DW KLJK WHFKQRORJ\ IDFLOLWLHV LQ 3UHWRULD
7HOHSKRQH )DFVLPLOH ( PDLO LQIR#DPG RUJ ]D :HEVLWH ZZZ DPG RUJ ]D 3RVWDO $GGUHVV 3RVW1HW 6XLWH QR 3ULYDWH %DJ ; (ODUGXVSDUN 5HSXEOLF RI 6RXWK $IULFD
$0' <($56 6833257Î&#x2013;1* 7+( 6287+ $)5Î&#x2013;&$1 '()(1&( Î&#x2013;1'8675<
OUR MEMBERS ... WHO WE SUPPORT MEMBERS
WEBSITE
MEMBERS
WEBSITE
Aerosud Aviation
www.aerosud.co.za
North Park Group
www.npinnovations.com
Aselsan SA
www.aselsan-sa.co.za
Offsets and Consulting Services
www.offsettable.com
Aurecon South Africa
www.aurecongroup.com
Optronics Africa
www.optronics.co.za
Aztec Electronics
www.aztecelectronics.co.za
Osprea Logistics SA
www.osprea.com
Bidvest Panalpina Logistics
www.bpl.za.com
OTT Solutions
www.ott.co.za
Cernofon cc
OTT Technologies
www.ott.co.za
Clear Bec Group
Paramount Group
www.paramountgroup.com
Compliance and Security Advisory Services
www.complianceag.com
Parachute Training Enterprises
www.parachutesystems.com
Cybicom Atlas Defence
www.cadefence.com
Parsec
www.parsec.co.za
Damen Shipyards
www.damen.com
PGSI Group
www.pgsigroup.com
DCD Protected Mobility
www.dcd.co.za
PJ Aviation
www.pjaviation.co.za
CSIR
www.csir.co.za
Protoclea Adv Image Engineering
www.protoclea.com
DENEL
www.denel.co.za
Redeployment Camp Systems (RCS)
www.rcssa.com
Desert Wolf Consulting
www.desert-wolf.com
REUTECH Limited
www.reutech.co.za
Emzansi Engineering Consultants
www.emzansi.co.za
RGC Engineering Sales
www.rgcengineering.co.za
Floida Engineering Services
www.floida.co.za
Rheinmetall Denel Munition
www.rheinmetall-defence.com
F&R Catai Transport Solutions
www.frcataitransport.co.za
Rippel Effect Systems
www.rippeleffect.co.za
Saab Grintek Defence
www.saabgrintek.com
FMM & TGT Construction and Maintenance GAC Laser Specialised Logistics
www.gaclaser.co.za
SAP Africa Region
www.sap.com
GEW Technologies
www.gew.co.za
Siemens
www.siemens.co.za
HENSOLDT Optronics
www.hendsoldt.net
Southern African Shipyards
www.sa-shipyards.co.za
Icarus Marine
www.icarusmarine.com
S-Plane Automation
www.s-plane.com
ILC Lerumo
www.lerumo.co.za
TAU Aerospace
www.safomar.co.za
Imperial Armour
www.imperial-armour.com
Tellumat Defence Systems
www.tellumat.com
Integrated Convoy Protection
www.revaarmouredvehicles.com
TFASA
www.tfasa.co.za
Intertechnic Contracting
Thales SA Systems
www.thalesgroup.com
Johan J. van Dyk, Countertrade and Offsets
TuB
www.tub.za.net
Katlego Global Logistics
www.katlegoint.co.za
Thorax LPE
www.thorax.co.za
Kingmanâ&#x20AC;&#x2122;s Resources
www.kingmans-resources.com
TMi Dynamatics
www.tmi-za.com
Kutleng Engineering Technologies
www.kutleng.co.za
Truvelo Manufacturers
www.truvelo.co.za
Turbomeca Africa
www.safran-helicopter-engines.com
Lorris Duncker Consultancy & Services Megaray
www.megaray.com
Twiga Services
www.twiga-africa.com
Milkor
www.milkor.com
Vliegmasjien
www.vliegmastjien.co.za
M- Tek
www.mtek.co.za
VR Laser Services
www.vrlaser.co.za
MTU SA
www.mtu-online.com
ZD Utilities
www.zdutilities.co.za
8
ADVERTISING SUPPLEMENT