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Pension benefits
12 Months Ended
Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]

19. Pension benefits

 

Staff pension plans are offered to all employees in the Cayman Islands. The plans are administered by third party pension plan providers and are defined contribution plans whereby the Company matches the contribution of the first 5% of each participating employee’s salary up to $72,000. The total amount recognized as an expense under the plan during the years ended December 31, 2012, 2011 and 2010 was $166,060, $161,853 and $171,949, respectively.