<SEC-DOCUMENT>0001292814-13-001037.txt : 20130503
<SEC-HEADER>0001292814-13-001037.hdr.sgml : 20130503
<ACCEPTANCE-DATETIME>20130503122555
ACCESSION NUMBER:		0001292814-13-001037
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130331
FILED AS OF DATE:		20130503
DATE AS OF CHANGE:		20130503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASIA PACIFIC WIRE & CABLE CORP LTD
		CENTRAL INDEX KEY:			0001026980
		STANDARD INDUSTRIAL CLASSIFICATION:	DRAWING AND INSULATING NONFERROUS WIRE [3357]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14542
		FILM NUMBER:		13811363

	BUSINESS ADDRESS:	
		STREET 1:		ROOM B 7/FL., NO. 132, SEC. 3
		STREET 2:		MIN-SHENG EAST ROAD
		CITY:			TAIPEI, 105
		STATE:			F5
		ZIP:			105
		BUSINESS PHONE:		886-2-2712-2558

	MAIL ADDRESS:	
		STREET 1:		ROOM B 7/FL., NO. 132, SEC. 3
		STREET 2:		MIN-SHENG EAST ROAD
		CITY:			TAIPEI, 105
		STATE:			F5
		ZIP:			105
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>apwc20130502_6k.htm
<DESCRIPTION>FORM 6-K
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<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">UNITED STATES</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">Washington, DC 20549</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">FORM 6-K</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:14.0pt;">REPORT OF FOREIGN PRIVATE
ISSUER</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:14.0pt;">PURSUANT TO RULE 13a-16 OR
15d-16 OF THE</font></b></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:14.0pt;">SECURITIES EXCHANGE ACT OF 1934</font></b></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">For the month of May 2013</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Commission file number 1-14542</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:16.0pt;">ASIA PACIFIC WIRE &amp; CABLE</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.5pt;"><br>
</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:16.0pt;">CORPORATION LIMITED</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">(Exact name of Registrant as specified in
its charter)</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Bermuda</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">(Jurisdiction of incorporation or
organization)</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.5pt;">7/Fl. B, No. 132, Sec. 3<br>
Min-Sheng East Road<br>
Taipei, 105, Taiwan<br>
Republic of China</font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">(Address of principal executive offices)</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:14.0pt;">&nbsp;</font></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Form 20-F </font><font face=wingdings lang=EN-US style="font-size:10.5pt;">x&nbsp;</font><font face="Times New Roman" lang=EN-US style="font-size:10.5pt;"> </font><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Form 40-F </font><font face=wingdings lang=EN-US style="font-size:10.5pt;">&#168;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): </font><font face=wingdings lang=EN-US style="font-size:10.5pt;">&#168;&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): </font><font face=wingdings lang=EN-US style="font-size:10.5pt;">&#168;&nbsp;</font></p>





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<P style="TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Attached hereto as Exhibit 99.1 and filed as part of this report is the press release issued by the Registrant on April 30, 2013 reporting its Financial Results for 2012. </FONT></P>

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   <P style="MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Exhibit 99.1</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Press Release reporting full year 2012 financial results, dated April 30, 2013.</FONT></P></TD></TR></TABLE></DIV>

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<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman" lang=EN-US style="font-size:10.5pt;">Signature </font></b></p>

<p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized. </font></p>

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  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">ASIA PACIFIC WIRE &amp; CABLE
  CORPORATION LIMITED</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">By: </font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">/s/ Yuan Chun Tang</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Name: Yuan Chun Tang&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Title: Chief Executive Officer</font></p>
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  <p style="margin:0cm;margin-bottom:.0001pt;"><font color=black face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Date: May 3, 2013</font></p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99_1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Exhibit 99.1</FONT></P>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 16pt" lang=EN-US face=Calibri,sans-serif>Asia Pacific Wire &amp; Cable Corporation Limited Reports <BR>Full Year Financial Results <BR><BR></FONT></B></P>

<UL style="MARGIN-TOP: 0cm; MARGIN-BOTTOM: 0cm" type=disc>

<LI style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Gross profit was $51.8 million, an increase of 18% from $43.9 million in FY2011</FONT>

<LI style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Net income attributable to APWC shareholders was $10.9 million vs. a loss of $(5.4) million in FY2011</FONT>

<LI style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Diluted earnings per share was $0.79 vs. a loss of $(0.39) in FY2011</FONT>

<LI style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$72.8 million in cash and cash equivalents at December 31, 2012</FONT> </LI></UL>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>TAIPEI, Taiwan, April 30, 2013 (GLOBE NEWSWIRE)</FONT></B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif> -- Asia Pacific Wire &amp; Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company&#8217;s financial results for the fiscal year ended December 31, 2012. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT face=Calibri></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 10pt"><B><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Financial Summary </FONT></B></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>FY2012 Financial Results</FONT></B></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; PADDING-TOP: 3.75pt" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US color=black face=Calibri,sans-serif>FY 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; PADDING-TOP: 3.75pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US color=black face=Calibri,sans-serif>FY 2011</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; PADDING-TOP: 3.75pt" vAlign=top width="25%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US color=black face=Calibri,sans-serif>CHANGE</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Revenues </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$462.3 million</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; PADDING-TOP: 3.75pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$471.9 million</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; PADDING-TOP: 3.75pt" vAlign=top width="25%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>-2%</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; HEIGHT: 14.85pt; PADDING-TOP: 3.75pt" vAlign=top width="36%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Gross Profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; HEIGHT: 14.85pt; PADDING-TOP: 3.75pt" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$51.8 million</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$43.9 million</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 3.75pt; PADDING-LEFT: 3.75pt; PADDING-RIGHT: 3.75pt; HEIGHT: 14.85pt; PADDING-TOP: 3.75pt" vAlign=top width="25%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>+18%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Net Income</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$10.9 million</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$(5.4) million</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>+301.9%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>EPS </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$0.79 </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>$(0.39)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>+302.6%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><I><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>* Earnings per share are based on approximately 13.8 million shares in 2011 and 2012.</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>&#8220;We are pleased to see our business rebound in 2012,&#8221; began Yuan Chun Tang, CEO of Asia Pacific Wire &amp; Cable Corporation Limited.&nbsp; &#8220;We expect these positive trends in profits and margins to continue throughout 2013, particularly in our power, telecommunications and distributed products.&nbsp; As we commence production of electronic wire at our Ningbo factory, we anticipate this new product line will contribute to our sales and profitability growth the second half of the year.&#8221; Mr. Yuan concluded.</FONT></P>

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<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><B><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Full Year 2012 Results</FONT></B></P>

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<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Revenues for the year ended December 31, 2012 were $462.3 million, a 2% decrease from the prior period, primarily attributable to lower sales of APWC&#8217;s low margin enameled wire and in the supply, delivery and installation (SDI) project segment.&nbsp; Adding to the Company&#8217;s growth were increases in power cable sales of 2.8%, and its distributed product line sales growth of 115% year over year.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Gross profit for fiscal year 2012 increased by 18% to $51.8 million from $43.9 million in the year-ago period, representing gross margins of 11.2% and 9.3%, respectively. Gross margins increased 20.4% year over year as a result of APWC sales of higher margin products including power and telecommunications cables and distributed products where gross margins were approximately 17%, 26% and 6%, respectively. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Selling, general and administrative expenses for the year increased 6.5% to $32.8 million from $30.8 million.&nbsp; Operating income increased significantly year over year as a result of increased gross margins and the absence of goodwill impairment charges and clean-up costs and other losses stemming from a flood at its Thai subsidiary in 2011.&nbsp; In 2011, the Company incurred $12.7 million of such charges, versus a gain of $3.9 million in 2012.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Net income attributable to APWC shareholders was $10.9 million for the year compared to a loss of $5.4 million in the corresponding period in 2011. Net income per basic and diluted share was $0.79 for the period, compared to $(0.39) 2011. The basic and diluted weighted average shares outstanding were approximately 13.8 million for both periods.&nbsp; </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><B><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Financial Condition</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>As of December 31, 2012, APWC had $72.8 million in cash and cash equivalents, $6.2 million in unrestricted short-term bank deposits, and $11.2 million in restricted short-term bank deposits, totaling $90.2 million, compared to cash and cash equivalents and unrestricted and restricted bank deposits totaling $91.2 million as of December 31, 2011. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Total current assets were $330.2 million at December 31, 2012 compared to $288.7 million at December 31, 2011. Working capital was $183.7 million as December 31, 2012.&nbsp; APWC ended 2012 with total short term bank loans and overdrafts of $57.8 million, up from $52.8 million at December 31, 2011. Shareholders' equity attributable to APWC was $161.7 million at December 31, 2012, compared to $146.5 million at December 31, 2011. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>APWC generated approximately $11.6 million of cash from operating activities during 2012 compared to $22.6 million in 2011, primarily due to an increase in accounts receivable, partially offset by an improvement in inventory turns. The Company invested $10.1 million in capital expenditures in 2012 compared to $8.9 million in 2011 to improve equipment at its Thai subsidiary and purchase new equipment for the Company&#8217;s newly conditioned, Ningbo, China facility. &nbsp;</FONT></P>

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<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Non-Deal Road Show </FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>The Company is participating in a non-deal road show May 7-10 in New York City.&nbsp; Frank Tseng and Ivan Hsia from the Company will be accompanied by John Mattio, IR agency for APWC.&nbsp;&nbsp; Investors interested in <FONT style="LINE-HEIGHT: 16pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>meeting with the Company should contact John Mattio, at MZ Group N.A. at the contact information listed below. </FONT></FONT></P>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>About Asia Pacific Wire &amp; Cable Corporation</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Asia Pacific Wire &amp; Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products ("Distributed Products") manufactured by its principal shareholder, Pacific Electric Wire &amp; Cable Company, a Taiwanese company ("PEWC"). The Company also provides project engineering services in the supply, delivery and installation ("SDI"), of power cables to certain of its customers. For more information on the Company, visit www.apwcc.com. Information on the Company's Web site or any other Web site does not constitute a portion of this release.</FONT></P>

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<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Safe Harbor Statement</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>This release contains certain "forward-looking statements" relating to the Company, its business, and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes", "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Contact:</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Company Contact:</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Asia Pacific Wire &amp; Cable Corporation Limited</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Mr. Frank Tseng, CFO</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Phone: +886-2-2712-2558 ext. 66</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=PT-BR face=Calibri,sans-serif>E-mail: </FONT><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=PT-BR color=blue face=Calibri,sans-serif>frank.tseng@apwcc.com&nbsp;&nbsp;&nbsp;</FONT></U></P>

<P style="MARGIN: 0cm 0cm 0pt"><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US color=blue face=Calibri,sans-serif>www.apwcc.com</FONT></U></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>Investor Relations Contact:</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>MZ North America<BR>John Mattio, SVP<BR>Tel: +1-212-301-7130<BR>Email: <U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=PT-BR color=blue face=Calibri,sans-serif>john.mattio@mzgroup.us</FONT></U></FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><U><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=PT-BR color=blue face=Calibri,sans-serif>www.mzgroup.us</FONT></U></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 12pt" lang=EN-US face=Calibri,sans-serif>- FINANCIAL TABLES -</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES<BR>CONSOLIDATED BALANCE SHEETS <BR>(In thousands of US Dollars, except share data)</FONT></B></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17.1pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Current assets:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17.1pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17.1pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 76,672</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 72,816</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Unrestricted short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">2,529</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">6,210</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Restricted short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">12,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">11,217</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -16.5pt; MARGIN: 0cm 0cm 10pt 34.65pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Accounts receivable, net of allowance for doubtful accounts of $4,614 and $2,580 at December 31, 2011 and 2012, respectively </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">98,329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">125,128</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Amounts due from related parties </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">5,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,066</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -16.5pt; MARGIN: 0cm 0cm 10pt 34.65pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Inventories </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 33pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Distributed products</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">2,243 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">12,780</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 33pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Finished products</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">35,786</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">40,589</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 33pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Consignment inventory</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 33pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Work-in-progress</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">16,434 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">19,743 </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 33pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Raw materials and supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">24,552</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=#000000 face="Times New Roman">25,409</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">79,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">98,521</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Investments</FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman"> &nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">2,378</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Deferred tax </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">5,185</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">3,134</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Prepaid expenses and other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">9,716 </FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">6,738</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">288,697</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">330,208</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 0cm 10pt 13.2pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Property, plant and equipment:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Land</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">5,964</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">6,194</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Land use rights</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">2,900</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">2,914</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Buildings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">49,749</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">52,372</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Machinery and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">118,984</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">122,584</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Motor vehicles</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,203</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,336</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Office equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">6,675</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">6,830</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Construction in progress</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">2,547</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,998</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">191,022</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">200,228</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 16.5pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Accumulated depreciation and amortization </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(148,108)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(149,832)</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">42,914</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">50,396</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 0cm 10pt 13.2pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Investments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">618</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">1,002</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Investments in equity investees </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,414</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Goodwill </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">889</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Deferred tax assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">517</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">2,475</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">5,678</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">8,780</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 13.3pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Total assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 337,289</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 389,384</FONT></P></DIV></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; MARGIN-LEFT: 0pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="65%">

   <P style="TEXT-INDENT: -5pt; MARGIN: 0cm 9.45pt 10pt 13.7pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="65%">

   <P style="TEXT-INDENT: -5pt; MARGIN: 0cm 9.45pt 10pt 13.7pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Current liabilities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Bank loans and overdrafts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 52,813</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 57,845</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Accounts payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">22,148</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">40,616</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Accrued expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">10,737</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">13,499</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Amounts due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">11,428</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 0pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Short-term loans from the immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">1,732</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Income tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">9,835</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">11,225</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Other current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">5,783</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">10,149</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 22.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 22.95pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -5.1pt; MARGIN: 0cm 9.45pt 10pt 13.8pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 22.95pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">117,741</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 22.95pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">146,494</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -4.4pt; MARGIN: 0cm 9.45pt 10pt 13.75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Other non-current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">3,678</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">6,060</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">1,181</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">2,219</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total non-current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">4,859</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">8,279</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total liabilities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">122,600</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">154,773</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -4.4pt; MARGIN: 0cm 9.45pt 10pt 13.75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">APWC shareholders&#8217; equity:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 5.5pt; MARGIN: 0cm 9.45pt 10pt 14.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Common shares, $0.01 par value:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -8.75pt; MARGIN: 0cm 9.45pt 10pt 36.15pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Authorized shares of 50,000,000 shares at December 31, 2011 and 2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Issued and outstanding shares &#8211; 13,830,769 shares </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">138</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 5.5pt; MARGIN: 0cm 9.45pt 10pt 14.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Additional paid-in capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">111,541</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">110,608</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 5.5pt; MARGIN: 0cm 9.45pt 10pt 14.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman">Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">34,545</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">45,553</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Accumulated other comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">286</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">5,424</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">146,510</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">161,723</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: 16pt; MARGIN: 0cm 9.45pt 10pt 3.3pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Less: Treasury stock at cost (1,900 shares at $3.2899)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-GB face="Times New Roman">(6)</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total APWC shareholders&#8217; equity </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">146,510</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">161,717</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">68,179</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">72,894</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 9.45pt 10pt 13.2pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total shareholders&#8217; equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">214,689</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">234,611</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=top width="65%">

   <P style="TEXT-INDENT: -4.4pt; MARGIN: 0cm 9.45pt 10pt 13.75pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Total liabilities and shareholders&#8217; equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: 5.5pt; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 337,289</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: 5.5pt; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$ 389,384</FONT></P></DIV></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES<BR>CONSOLIDATED STATEMENTS OF OPERATIONS <BR></FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman">(In thousands of US Dollars, except share data)</FONT></B></P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" width="40%" colSpan=2>

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=center>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">2011</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=center>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">2012</FONT></B></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 0cm 10pt 9.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm" align=left><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm" align=left><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="TEXT-INDENT: -9.9pt; MARGIN: 0cm 0cm 10pt 9.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm" align=left><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm" align=left><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0cm 0cm 10pt 23.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Manufactured products, </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 429,474</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 401,023</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.7pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.7pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 7.2pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Distributed products</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.7pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">25,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.7pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">54,797</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 7.2pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Supply, delivery and installation of wires and cables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">16,972</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">6,445</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 7.2pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">471,946</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">462,265</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -21.15pt; MARGIN: 0cm 0cm 10pt 21.15pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Costs of sales </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -14.25pt; MARGIN: 0cm 0cm 10pt 1cm"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Manufactured products </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(including purchases from related parties amounting to $45,925, $46,953 and $23,857 </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">for the years ended December 31, </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">2010, 2011 and 2012, respectively</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(386,598)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(356,358)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -11.5pt; MARGIN: 0cm 0cm 10pt 25.7pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Distributed products (including purchases from related parties amounting to $4,056, $7,484 and $9</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">,083 for the years ended December 31, 2010, 2011and 2012, respectively </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(22,545)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(51,436)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 7.2pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Supply, delivery and installation of wires and cables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(16,915)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(7,460)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: 7.2pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Inventory impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(1,993)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">4,804</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(428,051)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(410,450)</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Gross profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">43,895</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">51,815</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Selling, general and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(30,760)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(32,794)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Recovery for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">1,487</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">720</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Impairment of long-lived assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">(22)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Impairment of investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Impairment of goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(8,791)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 19.85pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">(Charges) Recovery related to flooding </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">(3,947)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">3,874</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -4pt; MARGIN: 0cm 0cm 10pt 4pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Income from operations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="TEXT-INDENT: 4.5pt; MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">1,884</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">23,593</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Exchange gain (loss), net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(1,346)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">2,398</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Interest income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">1,409</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">1,555</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Interest expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(2,217)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(2,195)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Share of net loss of equity investees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(58)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(21)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Gain on liquidation of subsidiaries </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">279</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Loss on disposal of available-for-sale securities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">(68)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="times new roman">Other income, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">1,032</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">1,684</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Income from continuing operations before income taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">636</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">27,293</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Income taxes </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(4,566)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(8,383)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 18.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net income (loss) from continuing operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(3,930)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">18,910</FONT></P></TD></TR>

<TR style="HEIGHT: 18.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Discontinued operations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.45pt; MARGIN: 0cm 0cm 10pt 20.45pt"><FONT style="LINE-HEIGHT: 7pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 7pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 7pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -20.45pt; MARGIN: 0cm 0cm 10pt 20.45pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Income from operations of discontinued SPFO (including gain on disposal of $1,962 for the year ended December 31, 2011, purchases from related parties amounting to $4, $317 and $nil, and sales to related parties amounting to $54, $693 and $nil for the years ended December 31, 2010, 2011 and 2012, respectively)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">1,075</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR style="HEIGHT: 18.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Income taxes </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(229) </FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 18.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(Loss) Income from discontinued operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">846</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD></TR>

<TR style="HEIGHT: 18.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net income (loss)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(3,084)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 18.15pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 21.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" vAlign=top width="60%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0cm 0cm 10pt 22.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net income attributable to non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">2,355</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 21.25pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">7,961</FONT></P></TD></TR>

<TR style="HEIGHT: 21.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 21.85pt; PADDING-TOP: 0cm" vAlign=bottom width="60%">

   <P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Income (loss) attributable to APWC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 21.85pt; PADDING-TOP: 0cm" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ (5,439)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 21.85pt; PADDING-TOP: 0cm" vAlign=bottom width="23%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 10,949</FONT></P></DIV></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_7"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -20.95pt; MARGIN: 0cm 0cm 10pt 20.85pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Basic and diluted earnings (loss) per share from continuing operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="TEXT-INDENT: 4.5pt; MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ (0.49)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="TEXT-INDENT: 4.5pt; MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 0.79</FONT></P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Basic and diluted earnings (loss) per share from discontinued operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">0.10</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: 40.5pt; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 18pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Basic and diluted earnings (loss) per share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: 4.5pt; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ (0.39)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: 4.5pt; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 0.79</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Basic and diluted weighted average common shares outstanding</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: 4.5pt; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">13,830,769</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">13,830,751</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV></DIV>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 10pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">CONSOLIDATED STATEMENTS OF CASH FLOWS</FONT></P>

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<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=center>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">2011</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=center>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">2012</FONT></P></DIV></TD></TR>

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   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Operating activities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net income (loss)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">$ (3,084)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">$ 18,910</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Adjustments to reconcile net income (loss) to net </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: -11.8pt; MARGIN: 0cm 0cm 10pt 17.85pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">cash provided (used in) by operating activities:&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Gain on disposal of property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(158)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(114)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Loss on disposal of available-for-sale securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Depreciation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">6,462</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">4,975</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Deferred income taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(2,273)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">1,264</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Recovery for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(1,555)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(720)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Inventory impairment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">1,993</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(4,804)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Share of net loss of equity investees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">21</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Impairment of long-lived assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">22</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Impairment of investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Impairment of goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">8,791</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Gain on disposal of a subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(1,962)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Pension liability adjustments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">144</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Unrealized foreign exchange difference, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">974</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">26</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Noncash other income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(519)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Changes in operating assets and liabilities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 18pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Accounts receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">34,052</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(23,103)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 18pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(5,539)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(12,022)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 18pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(7,508)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">3,082</FONT></P></TD></TR>

<TR style="HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 18pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Amounts due to/from related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">580</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(2,102)</FONT></P></TD></TR>

<TR style="HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 18pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Other long term assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(343)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">477</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 18pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Accounts payable, accrued expenses and other liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(7,933)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">26,111</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net cash provided by (used in) operating activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">22,624</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">11,648</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Investing activities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 21.7pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Placement of unrestricted short-term bank deposits to financial </FONT><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">institutions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(2,625)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(3,542)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 21.7pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Placement of restricted short-term bank deposits to financial </FONT><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">institutions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(13,906)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-GB face="times new roman">(2,608)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="TEXT-INDENT: 21.15pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Maturity of restricted short-term bank deposits from financial </FONT><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">institutions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">11,326</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">3,897</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Purchase of financial instruments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(2,378)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Purchases of property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(8,888)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(10,937)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Proceed from disposal of an available-for-sale securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">24</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">&#8211;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Proceeds from disposal of property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">173</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Decrease in investment in equity investees </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net cash provided by (used in) investing activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(13,904)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(15,755)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Financing activities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Dividend paid during the year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-GB face="times new roman">(3,195)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-GB face="times new roman">(3,067)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.05pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.05pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Repayments of bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.05pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(22,503)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.05pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(6,000)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Proceeds from bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 5.5pt 0cm 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">31,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 5.5pt 0cm 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">9,888</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Share capital repurchase </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 5.5pt 0cm 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 5.5pt 0cm 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(6)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Acquisition of non-controlling interest </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face="Times New Roman">&#8722;</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(877)</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net cash (used in) provided by financing activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">5,621</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(62)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Effect of exchange rate changes on cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">(886)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">313</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="TEXT-INDENT: -10.15pt; MARGIN: 0cm 0cm 10pt 20pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Net increase in cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">13,455</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 10pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">(3,856)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Cash and cash equivalents at beginning of year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">63,217</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">76,672</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" width="64%">

   <P style="MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="times new roman">Cash and cash equivalents at end of year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 76,672</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="18%" align=right>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face="Times New Roman">$ 72,816</FONT></P></DIV></TD></TR></TABLE></DIV>

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