<SEC-DOCUMENT>0001292814-14-001070.txt : 20140501
<SEC-HEADER>0001292814-14-001070.hdr.sgml : 20140501
<ACCEPTANCE-DATETIME>20140430184640
ACCESSION NUMBER:		0001292814-14-001070
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20131231
FILED AS OF DATE:		20140501
DATE AS OF CHANGE:		20140430

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:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14542
		FILM NUMBER:		14801307

	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>20-F
<SEQUENCE>1
<FILENAME>apwcform20f_2013.htm
<DESCRIPTION>FORM 20-F 2013
<TEXT>

<HTML>
<HEAD>
   <TITLE>apwcform20f_2013.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

&nbsp;
<A name=page_1></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader1"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<DIV style="BORDER-BOTTOM: windowtext 3.75pt 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; TEXT-ALIGN: right; 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><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 14pt" lang=EN-US face="Times New Roman">UNITED STATES</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 14pt" lang=EN-US face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt" align=center><B><FONT style="TEXT-TRANSFORM: uppercase; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 14pt" lang=EN-US color=black face="times new roman bold">Washington, D.C. 20549</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 6pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 14pt" lang=EN-US face="Times New Roman">FORM 20-F</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 6pt 20.15pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp; </FONT><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 6pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">OR</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 6pt 20.15pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face=wingdings>x</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp; </FONT><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2013</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 6pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">OR</FONT></B></P>
<P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 6pt 20.15pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp; </FONT><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 6pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">OR</FONT></B></P>
<P style="TEXT-INDENT: -20.15pt; MARGIN: 0cm 0cm 12pt 20.15pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp; </FONT><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Commission file number 1-14542</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 16pt" lang=EN-US face="Times New Roman">ASIA PACIFIC WIRE &amp; CABLE</FONT></B><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"><BR>
</FONT></B><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 16pt" lang=EN-US face="Times New Roman">CORPORATION LIMITED</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US face="Times New Roman">(Exact name of Registrant as specified in its charter)</FONT></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Bermuda</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US face="Times New Roman">(Jurisdiction of incorporation or organization)</FONT></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">7/Fl. B, No. 132, Sec. 3<BR>
Min-Sheng East Road<BR>
Taipei, 105, Taiwan<BR>
Republic of China</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 8pt" lang=EN-US face="Times New Roman">(Address of principal executive offices)</FONT></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Securities registered or to be registered pursuant to Section 12(b) of the Act.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1.25pt; PADDING-TOP: 0cm" vAlign=bottom width="49%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1.25pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1.25pt; PADDING-TOP: 0cm" vAlign=bottom width="49%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 9.9pt">
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 9.9pt; PADDING-TOP: 0cm" vAlign=bottom width="49%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Title of each class</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 9.9pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 9.9pt; PADDING-TOP: 0cm" vAlign=bottom width="49%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Name of each exchange on which registered</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 3.7pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 3.7pt; PADDING-TOP: 0cm" width="49%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 3.7pt; PADDING-TOP: 0cm" width="2%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 3.7pt; PADDING-TOP: 0cm" width="49%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="49%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Common Shares, par value 0.01 per share</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="49%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">NASDAQ Global Market</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm 0pt" align=center><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Securities registered or to be registered pursuant to Section 12(g) of the Act.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">None</FONT></B></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">None</FONT></B></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Indicate the number of outstanding shares of each of the issuer&#8217;s classes of capital or common stock as of the close of the period covered by the annual report.</FONT></P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 6pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">13,819,669 Common Shares</FONT></B></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.<BR>
Yes </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">No </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x&nbsp;</FONT></P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_2></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader2"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.&nbsp; Yes </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">No </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x&nbsp;</FONT></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90 days.&nbsp; Yes </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">No </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;&nbsp;</FONT></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&nbsp;&nbsp; &nbsp;Yes </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">No </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;&nbsp;</FONT></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0pt 12pt 0cm"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.&nbsp; See definition of &#8220;accelerated filer and large accelerated filer&#8221; in Rule 12b-2 of the Exchange Act.&nbsp; Large accelerated Filer </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Accelerated filer </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;&nbsp;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp; Non-accelerated filer </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x&nbsp;</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 1pt 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:&nbsp; U.S. GAAP </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;&nbsp;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> International Financial Reporting Standards as issued by the International Accounting Standards Board </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x&nbsp;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp; Other </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;&nbsp;</FONT></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 1pt 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">If &#8220;Other&#8221; has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.&nbsp; Item 17 </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Item 18 </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;&nbsp;</FONT></P>
<P style="TEXT-INDENT: 20pt; MARGIN: 0cm 0cm 12pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp; Yes </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>&#168;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="franklin gothic book,sans-serif">&#8195;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">No </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face=wingdings>x&nbsp;</FONT></P>
</DIV>
<DIV style="BORDER-BOTTOM: windowtext 3.75pt 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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_3></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader3"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 30pt 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">FORWARD-LOOKING STATEMENTS</FONT></B></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Our disclosure and analysis in this Annual Report on Form 20-F contain some forward-looking statements.&nbsp; Forward-looking statements give our current beliefs or expectations or forecasts of future events.&nbsp; You can identify these statements by the fact that they do not relate strictly to historical or current facts.&nbsp; Such statements may include words such as &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;believe&#8221; and other words and terms of similar meaning in connection with any discussion of future operating or financial performance.</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Such statements are not promises or guarantees and are subject to a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements.&nbsp; Important factors that could cause or contribute to such differences include our ability to maintain and develop market share for our products; global, regional or national economic and financial conditions, including events such as the financial crisis that commenced in 2008 and the consequent economic recession, and their individual or collective impact on demand for our products and services; the introduction of competing products or technologies; our inability to successfully identify, consummate and integrate acquisitions; our potential exposure to liability claims; the uncertainty and volatility of the markets in which we operate; changes in laws or regulations applicable to the Company in the markets in which we conduct business; the availability and price of copper, our principal raw material; our ability to negotiate extensions of labor agreements on acceptable terms and to successfully deal with any labor disputes; our ability to service, and meet all requirements under, our debt, and to maintain adequate credit facilities and credit lines; our ability to make payments of interest and principal under our existing and future indebtedness; our ability to increase manufacturing capacity and productivity; the fact that we have operations outside the United States that may </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">be materially and adversely affected by acts of terrorism, war and political and social unrest, or major hostilities; increased exposure to political and economic developments, crises, instability, terrorism, civil strife, expropriation and other risks of doing business in foreign markets; economic consequences arising from natural disasters and other similar catastrophes, such as floods, earthquakes, hurricanes and tsunamis; the fact that Asia Pacific Wire &amp; Cable Corporation Limited (&#8220;APWC&#8221; or the &#8220;Company&#8221;) is a holding company that depends for income upon distributions from operating subsidiaries, most of which are not wholly&#8209;owned and for which there may be restrictions on the timing and amount of distributions; price competition and other competitive pressures; the impact of climate change on our business and operations and on or customers; our ability to avoid limitations on utilization of net losses for income tax purposes; fluctuations in currency, exchange and interest rates, operating results and the impact of technological changes and other factors that are discussed in this report and in our other filings made with the Securities and Exchange Commission (the &#8220;SEC&#8221; or the &#8220;Commission&#8221;).</FONT></P>
</DIV>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">In particular, these statements include, among other things, statements relating to:</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; our business strategy;</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; our prospects for future revenues and profits in the markets in which we operate;</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; the impact of political, legal or regulatory changes or developments in the markets in which we do business;</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; our dependence upon the level of business activity and investment by our customers for the generation of our sales revenue;</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; the fact that our Common Shares are traded on a national exchange in the United States;</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; our dependence on a limited number of suppliers for our raw materials and our vulnerability to fluctuations in the cost of our raw materials; and</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&#8226;&nbsp;&nbsp;&nbsp;&nbsp; our liquidity.</FONT></P>
<P style="TEXT-INDENT: -20pt; MARGIN: 0cm 0cm 0pt 40pt">&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">We undertake no obligation to update any forward-looking statements or other information contained in this Annual Report, whether as a result of new information, future events or otherwise, except as required by law.&nbsp; You are advised, however, to consult any additional disclosures we make in our filings with the SEC.&nbsp; Also note that we provide a cautionary discussion of risks and uncertainties under the &#8220;Risk Factors&#8221; section of this Annual Report.&nbsp; These are factors that we think could cause our actual results to differ materially from expected results.&nbsp; Other factors besides those listed there could also adversely affect us.</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">This discussion is permitted by the Private Securities Litigation Reform Act of 1995.</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV></DIV>

&nbsp;
<A name=page_4></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader4"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">OTHER CONVENTIONS</FONT></B></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Unless otherwise specified, all references in this Annual Report to &#8220;Thailand&#8221; are to the Kingdom of Thailand, all references to &#8220;Singapore&#8221; are to The Republic of Singapore, all references to &#8220;Taiwan&#8221; are to Taiwan, The Republic of China, all references to &#8220;China&#8221; and to the &#8220;PRC&#8221; are to The People&#8217;s Republic of China (for the purpose of this Annual Report, excluding Hong Kong and Macau), all references to &#8220;Australia&#8221; are to the Commonwealth of Australia and all references to the &#8220;U.S.&#8221; are to the United States of America.</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Most measurements in this Annual Report are given according to the metric system.&nbsp; Standard abbreviations of metric units (</FONT><I><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">e.g.</FONT></I><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">, &#8220;mm&#8221; for millimeter) have been employed without definitions.&nbsp; All references in this Annual Report to &#8220;tons&#8221; are to metric tons, which are equivalent in weight to 2,204.6 pounds.</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">With respect to measurements relating to the manufacture of wire and cable products, references to &#8220;pkm&#8221; are to kilometers of twisted pairs of copper wire.</FONT></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Dollar amounts in this Annual Report are expressed in thousands ($000), except where otherwise indicated or with respect to earnings per share.</FONT></P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_5"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader5"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 30pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Part I</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 1:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identity of Directors, Senior Management and Advisers</FONT></B></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 2:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Offer Statistics and Expected Timetable</FONT></B></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 3:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key Information</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 24.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.1&nbsp;&nbsp;&nbsp;&nbsp; Selected Consolidated Financial Data</FONT></B></P>

<P style="TEXT-INDENT: 24.5pt; MARGIN: 0cm 0cm 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following selected consolidated financial data is derived from the consolidated financial statements of the Company for the years ended December 31, 2012 and 2013, prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;). </FONT></P>

<P style="TEXT-INDENT: 24.5pt; MARGIN: 0cm 0cm 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 24.5pt; MARGIN: 0cm 0cm 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Until and including our consolidated financial statements included in our annual report on Form 20-F for the year ended December&nbsp;31, 2012, we prepared our consolidated financial statements in accordance with generally accepted accounting principles accepted in the United States (&#8220;U.S. GAAP&#8221;). As required by First Time Adoption of International Financial Reporting Standards, or IFRS&nbsp;1, financial results for the year ended December&nbsp;31, 2012 have been adjusted in accordance with IFRS and differ from the results reported previously.</FONT></P>

<P style="TEXT-INDENT: 24.5pt; MARGIN: 0cm 0cm 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We applied the accommodation provided by the Securities and Exchange Commission (&#8220;SEC&#8221;) in respect of first-time application of IFRS and the following information is limited to our selected consolidated financial information as of and for the years ended December 31, 2012 and 2013 only.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The selected data set forth below should be read in conjunction with, and is qualified in its entirety by, the discussion in &#8220;Item 5:&nbsp; Operating and Financial Review and Prospects&#8221; and the consolidated financial statements and the notes thereto included in &#8220;Item 18:&nbsp; Financial Statements.&#8221;</FONT></P>

<DIV align=center>

<DIV align=center>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; 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: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt" align=center><FONT style="FONT-SIZE: 10.5pt" 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="29%" colSpan=2>

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">For the Year Ended December 31,</FONT></B></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="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2013</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2012</FONT></B></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="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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="29%" colSpan=2>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(in US$&nbsp;thousands)</FONT></B></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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Income Statement Data:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" 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="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10.1pt; MARGIN: 2.4pt 0cm 2.4pt 20.2pt"><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460,676</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp; 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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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=top width="14%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(408,860)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(411,786)</FONT></P></DIV></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">51,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">50,479</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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other operating income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">5,825</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Selling general &amp; administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(34,559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(34,593)</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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other operating expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="14%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">(196)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">(888)</FONT></P></DIV></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Operating profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">17,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">20,823</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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Finance cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(1,734)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(2,195)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Finance income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1,306</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1,322</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=bottom width="71%">

   <P style="TEXT-INDENT: -15.75pt; MARGIN: 2.4pt 0cm 2.4pt 15.75pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Share of profit of an associate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(211)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Gain on disposal of investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">232</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&#8212;</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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US 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=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&#8212;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">279</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Exchange gain (loss) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">(1,245)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">2,411</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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">1,454</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">1,933</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">(260)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&#8212;</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="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">16,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">24,552</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Income taxes expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(5,518)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(7,578)</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Net (loss) income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=top width="14%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp; 11,266</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp; 16,974</FONT></P></DIV></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="71%">

   <P style="TEXT-INDENT: -10.1pt; MARGIN: 2.4pt 0cm 2.4pt 20.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Net (loss) income attributable to non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,419</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,280</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=bottom width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Net (loss) income attributable to APWC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="14%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">5,847</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <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; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">9,694</FONT></P></DIV></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="71%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 2.4pt 0cm 2.4pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Basic and diluted (loss) earnings per share<SUP>(1)</SUP> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70</FONT></P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P></P></DIV>

<DIV align=center>

<P></P>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=center></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -22.3pt; MARGIN: 0cm 0cm 12pt 22.3pt" align=justify><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;The calculation of the (loss) earnings per share is based on 13,830,751 basic and diluted weighted Common Shares issued and outstanding for the year ended December 31, 2012 and</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">13,820,200&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> for the year ended December 31, 2013</FONT><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;</FONT></B></P></DIV>

<P></P></DIV></DIV>

<P style="TEXT-ALIGN: center">1</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_6"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=center>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<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="69%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt" align=center><FONT style="FONT-SIZE: 10.5pt" 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="31%" colSpan=3>

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">As of December 31,</FONT></B></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="69%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt" align=center><FONT style="FONT-SIZE: 10.5pt" 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%" colSpan=2>

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2013</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2012</FONT></B></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="69%"></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="31%" colSpan=3>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(in US$ thousands)</FONT></B></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=bottom width="100%" colSpan=4>

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</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="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Balance Sheet Data:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" 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="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62,509</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp; 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=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Working capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">174,477</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">181,805</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">364,635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">391,751</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=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Total debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">43,521</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">59,577</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Net assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">228,127</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">237,160</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=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Capital stock</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" 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=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 20pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US 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; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">157,248</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="16%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">163,102</FONT></P></TD></TR>

<TR>

   <TD width="69%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="13%">&nbsp;</TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P></P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 24.5pt; MARGIN: 18pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.2&nbsp;&nbsp;&nbsp;&nbsp; Exchange Rates</FONT></B></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Unless otherwise specified, all references in this Annual Report to &#8220;$,&#8221; &#8220;U.S. dollars&#8221; or &#8220;US$&#8221; are to United States dollars; all references to &#8220;Bt,&#8221; &#8220;Thai Baht&#8221; or &#8220;Baht&#8221; are to Baht, the legal tender currency of Thailand; all references to &#8220;S$&#8221; are to Singapore dollars, the legal tender currency of Singapore; all references <FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">to &#8220;A$&#8221; are to Australian dollars, the legal tender currency of Australia; and all references to &#8220;RMB&#8221; are to Chinese Renminbi, the legal tender currency of China.</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: center">2</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_7"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Unless otherwise noted, for the convenience of the reader, translations of amounts from Baht, Singapore dollars, Renminbi and Australian dollars to U.S. dollars have been made at the respective noon buying rates in New York City for cable transfers in those currencies as certified for customs purposes by the Federal Reserve Bank of New York (the &#8220;Noon Buying Rate&#8221;) on December 31, 2013.&nbsp; The respective Noon Buying Rates on December 31, 2013 were US$ 1.00 = Bt 32.68; S$ 1.262; RMB 6.054; and A$1.120.&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The respective Noon Buying Rates on April 11, 2014, the latest practicable date before publication of this Annual Report, were US$ 1.00 = Bt 32.36; S$ 1.23; RMB 6.211 and A$ 1.063.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> &nbsp;No representation is made that the foreign currency amounts could have been or could be converted into U.S. dollars on these dates at these rates or at any other rates.</FONT></P>

<P style="MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sources:&nbsp; Federal Reserve Bulletin, Board of Governors of the Federal Reserve System.&nbsp; Federal Reserve Statistical Release H.10(512), from the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov.&nbsp;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Thailand</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Thai Baht is convertible into foreign currencies and is subject to a managed float against a basket of foreign currencies, the most significant of which is the U.S. dollar.&nbsp; The composition of the basket for determining the value of the Baht is not made public by the Bank of Thailand.&nbsp; The following tables set forth, for the periods indicated, certain information concerning the Noon Buying Rate of the Thai Baht.&nbsp; No representation is made that the Baht or U.S. dollar amounts referred to herein could have been or could be converted into U.S. dollars or Baht, as the case may be, at any particular rate or at all.</FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">At Period End</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Average</FONT></B><SUP><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></B></SUP></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">(Bt per $1.00)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">33.33</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">34.30</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">36.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">33.10</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2010</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.16</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">31.66</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">33.18</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">29.49</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2011</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">31.51</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.46</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">31.76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">29.68</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2012</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.59</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.99</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">31.87</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.29</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.85</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.85</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">28.60</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -22pt; MARGIN: 0cm 0cm 12pt 22pt"><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp; Average means the average of the Noon Buying Rates on the last day of each month during a year.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The high and low exchange rates for the six months preceding the date of this Annual Report were:</FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Month</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">31.44</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30.98</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">31.22</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">December 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.85</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.01</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">January 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">33.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.72</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">February 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.91</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">32.32</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">March 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">32.58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">32.10</FONT></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 12pt 0cm"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Singapore</FONT></I></P>

<P style="TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Singapore dollar is convertible into foreign currencies and floats against a trade-weighted basket of foreign currencies, the composition of which is not made public by Singapore&#8217;s central bank, the Monetary Authority of Singapore, but of which the U.S. dollar is a component.&nbsp; The following tables set forth, for the </FONT>


<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">periods indicated, certain information concerning the Noon Buying Rate of the Singapore dollar.&nbsp; No representation is made that the Singapore dollar or U.S. dollar amounts referred to herein could have been or could be converted into U.S. dollars or Singapore dollars, as the case may be, at any particular rate or at all.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">3</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_8"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">




<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 22.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 22.15pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <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; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 22.15pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">At Period End&nbsp;</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 22.15pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Average</FONT></B><SUP><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></B></SUP></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 22.15pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 22.15pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" colSpan=4>

   <P style="TEXT-ALIGN: center; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">(S$ per $1.00)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.404</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.452</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.557</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.380</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2010</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.289</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.359</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.423</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.282</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2011</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.260</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.314</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.202</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2012</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.221</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.245</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.294</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.216</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.262</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.253</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.220</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -22pt; MARGIN: 0cm 0cm 12pt 22pt"><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Average means the average of the Noon Buying Rates on the last day of each month during a year.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The high and low exchange rates for the six months preceding the date of this Annual Report were:</FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Month</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.236</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.242</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">December 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.269</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.249</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">January 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.265</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">February 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.276</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.260</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">March 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.258</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sources:&#8195;Federal Reserve Bulletin, Board of Governors of the Federal Reserve System.&nbsp; Federal Reserve Statistical Release H.10(512), from the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">China</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The PRC government imposes control over its foreign currency reserves in part through direct regulation of the conversion of Renminbi into foreign currencies, including the conversion rate limitations on capital transfers and through restrictions on foreign trade and other regulatory impediments to the free transferability of capital.&nbsp; The following tables set forth, for the periods indicated, certain information concerning the Noon Buying Rate of the Renminbi.&nbsp; No representation is made that the Renminbi or U.S. dollar amounts referred to herein could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.</FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">At Period End</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Average</FONT></B><SUP><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></B></SUP></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">(RMB per $1.00)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.826</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.818</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2010</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.600</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.760</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.833</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.600</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2011</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.294</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.460</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.636</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.294</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2012</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.230</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.299</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.338</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.222</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.054</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.141</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.244</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.054</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -22pt; MARGIN: 0cm 0cm 12pt 22pt"><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Average means the average of the Noon Buying Rates on the last day of each month during a year.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The high and low exchange rates for the six months preceding the date of this Annual Report were:</FONT></P>

<DIV align=center>&nbsp;</DIV></DIV>

<P style="TEXT-ALIGN: center">4</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_9"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Month</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.082</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.099</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.090</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">December 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.093</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.054</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">January 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.060</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.040</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">February 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.145</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.059</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">March 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">6.227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">6.118</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sources:&nbsp; Federal Reserve Bulletin, Board of Governors of the Federal Reserve System.&nbsp; Federal Reserve Statistical Release H.10 (512), from the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Australia</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following tables set forth, for the periods indicated, certain information concerning the Noon Buying Rate of the Australian dollar.&nbsp; No representation is made that the Australian dollar or U.S. dollar amounts referred to herein could have been or could be converted into U.S. dollars or Australian dollars, as the case may be, at any particular rate or at all.</FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">At Period End</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Average</FONT></B><SUP><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></B></SUP></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">(A$ per $1.00)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.114</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.587</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.067</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2010</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.988</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.087</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.224</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.985</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2011</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.968</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.907</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2012</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.962</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.964</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.032</FONT></P></TD>

   <TD style="BACKGROUND-IMAGE: none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; BACKGROUND-ATTACHMENT: scroll; PADDING-RIGHT: 0cm; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.925</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="42%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.120&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.048&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.129</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.945</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -22pt; MARGIN: 0cm 0cm 12pt 22pt"><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Average means the average of the Noon Buying Rates on the last day of each month during a year.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The high and low exchange rates for the six months preceding the date of this Annual Report were:</FONT></P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Month</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="16%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 11.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.068</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.030</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.051</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">December 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.129</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.093</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">January 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.147</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.105</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">February 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.106</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">March 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.120</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.080</FONT></P></TD></TR></TABLE></DIV>

<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sources:&nbsp; Federal Reserve Bulletin, Board of Governors of the Federal Reserve System.&nbsp; Federal Reserve Statistical Release H.10 (512), from the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 24.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.3&nbsp;&nbsp;&nbsp;&nbsp; Risk Factors</FONT></B></P>

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">You should carefully consider the following risks before you decide to buy our Common Shares.&nbsp; If any one of these risks or uncertainties were to occur, our business, financial condition, results and performance could be seriously harmed and/or the price of our Common Shares might significantly decrease.&nbsp; The risks and uncertainties described in this Annual Report on Form 20-F are not the only ones facing us.&nbsp; Additional risks and uncertainties that currently are not known to us or that we currently believe are immaterial also may </FONT>


<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">adversely affect our businesses, results of operations, condition (financial or otherwise) and the value of any investment in our Common Shares.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">5</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_10"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">




<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.3.1&nbsp;&nbsp;&nbsp;&nbsp; Risks Related to PCAOB Inspection</FONT></B></P>

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our auditor, Ernst &amp; Young, is headquartered in Taiwan (&#8220;E&amp;Y Taiwan&#8221;). &nbsp;Taiwan permits independent registered public accounting firms to be subject to inspection by the Public Company Accounting Oversight Board of the Unites States (&#8220;PCAOB&#8221;) to assess the auditor&#8217;s compliance with applicable PCAOB professional standards. However, the audit component team for the China operations of the Company is composed of the affiliated firm of E&amp;Y Taiwan in China ("E&amp;Y China"). &nbsp;E&amp;Y China, like other independent registered public accounting firms operating in China, is not permitted to be subject to inspection by PCAOB. &nbsp;Therefore, investors may be deprived of the benefits arising from PCAOB inspections of the audit conducted by E&amp;Y China of the Company&#8217;s China operations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">3.3.2&nbsp;&nbsp;&nbsp;&nbsp; Risks Related to the Continuing Impacts of the Global Economic and Financial Crisis</FONT></B></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Following the global financial and economic crises of 2008, the U.S. Federal Reserve Bank (the &#8220;U.S. Fed&#8221;) and the central banks of most of the leading industrialized nations lowered their short-term interest rates to near zero in an effort to stimulate borrowing and increase economic activity.&nbsp; The U.S. Fed and certain other of those central banks also undertook a series of government bond repurchase programs to enhance market liquidity and to maintain a very low interest rate environment. Recently, the U.S. Fed and certain other central banks have curtailed their bond repurchase programs and indicated that one or more increases in short-term borrowing rates will likely be implemented by 2015. &nbsp;An increase in U.S dollar borrowing costs could adversely affect our business. In the four Asian markets where we have operating plants (Thailand, China, Singapore and Australia). Our financial statements for our operating subsidiaries in those markets are reported and denominated in local currency and when translated into US dollar, our reporting currency, these operating subsidiaries will suffer a decrease in reported revenue and operating profits due to foreign currency translation.&nbsp; Moreover, our copper purchases are based on US dollar quotations, which means the operating subsidiaries would have to pay more in local currency in order to meet their trade payable obligations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Price Volatility for our Principal Raw Material</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A comparison of copper prices on the London Metals Exchange (the &#8220;LME&#8221;), between year-end 2012 and year-end 2013 shows that the average price for copper fell from $7,950 per metric ton to $7,326 per metric ton by year-end 2013, representing an 7.8%&nbsp;price decline.&nbsp; The effect of that decrease has impacted the Company&#8217;s ability to improve its overall financial performance, particularly since February 2012.&nbsp; The decrease in the average LME copper price over 2013 was the principal contributing factor to the drop in 2013 of our ASP (average selling price) compared with 2012.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Copper prices on the LME dropped during the course of the year 2013 to lower than $7,500 per ton. Consistent with industry practice, customers would expect that the selling prices of our products, particularly of copper based wires, would therefore be lower than our product prices at the end of 2012.&nbsp; The decrease in copper prices and other commodity prices also resulted in a decreased turnover for the entire year, as customers delayed placing orders with the Company or reduced the quantity of such orders in anticipation of a possible further reduction in copper prices.&nbsp; A further decrease in copper prices would likely have an adverse effect on the revenues of the Company.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is unable to determine the precise impact of the volatility of copper prices, and the fragile state of the global recovery, on its operations and cash flow, since its operating results are also affected by factors that are, or may be, unrelated to the economic turmoil, such as the completion of routine purchase cycles by customers and the completion, expansion or contraction of large infrastructure projects.&nbsp; However, the Company is of the opinion that the falling copper prices have negatively affected the Company&#8217;s operations and cash flow.&nbsp; The Company believes that any efforts to forecast likely future performance with </FONT>


<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">any degree of specificity would be fraught with uncertainty.&nbsp; Accordingly, the Company cautions against placing reliance on any efforts to identify trends for the foreseeable future.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">6</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_11"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">




<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.3.3&nbsp;&nbsp;&nbsp;&nbsp; Risks Related to the Common Shares and the Company</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Consolidation of Charoong Thai Group Accounts</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As of December 31, 2013, the Company effectively owned 50.93% of the issued and outstanding shares of Charoong Thai Wire and Cable Public Company Limited (&#8220;Charoong Thai&#8221; or &#8220;CTW&#8221;), a decrease from the Company&#8217;s initial ownership percentage which was attributable to the exercise of warrants or conversion of convertible securities by third parties.&nbsp; The Company&#8217;s present intention is to maintain majority ownership of the voting securities of Charoong Thai.&nbsp; However, there may be circumstances under which the Company cannot maintain majority ownership of Charoong Thai.&nbsp; In the event Charoong Thai were to make a further offering of voting securities, or securities convertible into or exchangeable for voting securities, and the Company was not in a position to fund or finance its participation in the offering, the ownership interest of the Company in Charoong Thai could fall below a level necessary for consolidated treatment.&nbsp; If that were the case, the accounts of the Charoong Thai group, which includes all of the Company&#8217;s Thailand operations, would not be consolidated under IFRS, but instead would be accounted for under the equity method.&nbsp; In such an event, the Company&#8217;s accounts would show a significant decrease in revenue and most categories of assets and liabilities, which events could have a material adverse effect on the value of the Common Shares.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Potential Illiquidity of Common Shares</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Approximately 75.5% of our Common Shares are either unregistered securities or registered securities held by affiliates (or were repurchased by the Company), which are subject to restrictions on trading.&nbsp; Accordingly, approximately 75.5% of our Common Shares are not fully liquid investments.&nbsp; APWC has been listed on NASDAQ since April 2011, the volume of trading in our Common Shares has picked up fractionally.&nbsp; However, the value of our Common Shares may be impacted negatively by their relative illiquidity when compared to the publicly-traded shares of many other issuers.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -0.2pt; MARGIN: 0cm 0cm 12pt 22.5pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Control of the Company Rests with Majority Shareholder; Controlled Company Exemption; Risks Related to PEWC</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As the majority shareholder, Pacific Electric Wire &amp; Cable Co., Ltd. (&#8220;PEWC&#8221;), a Taiwanese company, has sufficient votes to control the outcome of any matters presented for a shareholder vote, including the election of the members of the Board of Directors, PEWC may vote its shares in the Company in the manner that it sees fit.&nbsp; In addition, subject to compliance with applicable securities laws, PEWC may sell, convey or encumber all or a portion of its ownership interest in the Company without regard to the best interests of the other shareholders of the Company except to the extent that it is: &nbsp;(i)&nbsp;prohibited from engaging in conduct oppressive to non-controlling interests under applicable law and (ii)&nbsp;required to comply with the terms of the Amended and Restated Shareholders&#8217; Agreement dated March 27, 2009 among the Company, PEWC and MSD Credit Opportunity Master Fund, L.P. (&#8220;COF&#8221;) (as the assignee of SOF Investments, L.P. (&#8220;SOF&#8221;) effective July 2011), a Delaware limited partnership which owns beneficially approximately 9.8% of the issued and outstanding Common Shares (the &#8220;Amended and Restated Shareholders Agreement&#8221;).</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Common Shares of the Company are traded on the NASDAQ Global Markets tier.&nbsp; However, as the Company has a more than fifty percent (50%) shareholder, the Company is entitled to rely upon a &#8220;controlled company exemption&#8221; to the requirement that a company have a board of directors comprised of a majority of independent directors in order to be listed on NASDAQ. &nbsp;At present, a majority of the board of directors of the Company is affiliated with PEWC.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">7</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_12"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 22pt; MARGIN: 5.5pt 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PEWC was delisted from the Taipei Stock Exchange in 2003 following the disclosure of a major corporate scandal involving fraud and embezzlement by certain former executives of PEWC, one or more of whom are now serving prison sentences for their actions. Commencing in 2004, PEWC brought a number of actions in different jurisdictions against those former executives and others seeking to recover substantial assets that had been misappropriated. &nbsp;Some of those actions are ongoing. PEWC is still seeking to recover financially, and in terms of its market reputation, from the malfeasance of those former executives. &nbsp;The financial and governance problems experienced by PEWC increase the uncertainty regarding its ability to perform under the Composite Services Agreement between PEWC and the Company, although to date PEWC has met its obligations under that agreement. &nbsp;(See---section 10.3 Material Contracts</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">).&nbsp;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Limited Trading Volume</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 5.5pt 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Although our Common Shares are traded on the NASDAQ Global Markets tier, trading in, and demand for, our Common Shares has been limited. As a consequence, shareholders may find that their ability to sell their Common Shares quickly or in substantial amounts is adversely affected by the limited public trading market.&nbsp; Thinly-traded equity can be more volatile than equity securities traded in an active trading market.&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The high and low daily closing prices for our Common Shares during the past 24 months (March 2012 &#8211; March 2014) have been $4.34 and $2.55, respectively.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> &nbsp;In the future, our Common Shares may experience significant price fluctuations which could adversely affect the value of your ownership interest in the Company.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Disclosure Controls and Procedures and Internal Control over Financial Reporting</FONT></I></P>

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Our</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined under Rule&nbsp;13a-15(f) under the Securities Exchange Act of 1934.</FONT></P>

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Based on the Company&#8217;s evaluation under the applicable framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (&#8220;COSO&#8221;) in 1992, our management, including our chief executive officer (&#8220;CEO&#8221;) and chief financial officer (&#8220;CFO&#8221;), concluded that there was not any material weakness in the Company&#8217;s internal controls over financial reporting for the fiscal year ended December 31, 2013. However, in certain prior years, such as the year ended December 31, 2012, management of the Company, including its CEO and CFO, did conclude that there then existed one or more material weaknesses. The Company cannot be certain that those remedied material weaknesses will not re-occur or that new material weaknesses will not take place in the future.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 2.2pt 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">In connection with the audit of our consolidated financial statements as of and for the year ended December&nbsp;31, 2012, our independent registered public accounting firm determined also the existence of a material weakness. &nbsp;A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the registrant&#8217;s annual or interim financial statements will not be prevented or detected on a timely basis by the company&#8217;s internal controls.</FONT></P>

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Deficiencies were noted in our controls over complex and non-routine transactions in our financial statement closing process. &nbsp;These deficiencies were attributable to our decentralized reporting structure, our complex and manual consolidation process and inadequate reviews over account balances at the reporting date. &nbsp;The aggregate effect of these deficiencies represented a material weakness. &nbsp;Based on this assessment, the Company&#8217;s management, including its CEO and CFO, concluded that the Company&#8217;s internal control over financial reporting was ineffective as of December 31, 2012.</FONT></P>

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Some of the above-described deficiencies, the material weakness and the conclusion by our CEO and our CFO that the Company&#8217;s internal controls over financial reporting were ineffective as of December 31, 2012 were disclosed also in the Company&#8217;s annual report on Form 20-F for the year ended December 31, 2012 (the &#8220;2012 Annual Report&#8221;). &nbsp;Other deficiencies noted in our 2012 Annual Report were corrected by management </FONT>


<FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">and the Company subsequent to December 31, 2012. (See---Item 15 for a discussion of remedial measures undertaken by the Company).</FONT></P></DIV>

<P style="TEXT-ALIGN: center">8</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_13"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">




<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt 23.05pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Reporting of Financial Results</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is currently compliant with its reporting obligations under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;).&nbsp; As a foreign private issuer, the Company is not required by the rules of the Commission to provide financial results on a quarterly or semi-annual basis.&nbsp; In addition, Bermuda law does not require the Company to provide interim financial information to its shareholders, whether on a quarterly or semi-annual basis.&nbsp; As such, investors may not have the same access to financial information of the Company as they customarily receive in the case of a domestic issuer disclosing quarterly results on a Form 10-Q.&nbsp; Under the NASDAQ rules; however, listed issuers are required to report semi</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math">-</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">annual unaudited financial results, which the Company has been doing since its listing on NASDAQ.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Potential Conflict of Certain Officers and Directors</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In March 2011, the Company appointed a third independent director as required by NASDAQ. &nbsp;Other than our three independent directors, all of the members of the Board of Directors are also directors or officers or otherwise affiliated with PEWC, the majority shareholder.&nbsp; Certain of our officers are also affiliated with PEWC.&nbsp; In each case, they may be subject to potential conflicts of interest.&nbsp; In addition, certain of our officers and directors who are also officers and/or directors of PEWC may be subject to conflicts of interest in connection with, for example, pursuing corporate opportunities in which we and PEWC or one of its affiliates have competing interests, and in the performance by us and PEWC of our respective obligations under existing agreements, including the Composite Services Agreement (discussed in section 10.3).&nbsp; In addition, some of these persons will devote time to the business and affairs of PEWC and its affiliates as is appropriate under the circumstances, which could reduce the amount of time available for overseeing or managing our business and affairs.&nbsp; Notwithstanding any such potential conflicts, however, such individuals, in their capacities as our directors and officers, are subject to fiduciary duties to our shareholders.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Bermuda Companies Act 1981, as amended (the &#8220;Companies Act&#8221;), subjects our officers and directors to certain fiduciary standards in the exercise of their executive and management duties on behalf of the Company.&nbsp; Under the Companies Act, an officer of ours (which term includes our directors) is subject to a duty of care requiring him to act honestly, in good faith and in the best interests of the Company in the discharge of his duties and to, among other things, give notice to the Board of Directors at the first opportunity of any interest he has in any material contract or proposed material contract with us or any of our subsidiaries.&nbsp; The Companies Act also prohibits us, subject to certain exceptions, from making loans to any directors without first obtaining the consent of shareholders holding in the aggregate not less than nine-tenths of the total voting rights of all the shareholders having the right to vote at any shareholders meeting.&nbsp; We do not make any loans to our directors or executive officers in accordance with the provisions of the Sarbanes-Oxley Act of 2002.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Obligations under the Amended and Restated Shareholders Agreement</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Pursuant to the original shareholders agreement dated June 28, 2007 (the &#8220;Shareholders Agreement&#8221;), the Company granted to SOF certain rights and protections (now held by COF, as successor-in-interest to SOF, as explained below).&nbsp; Under the Shareholders Agreement, the Company agreed to indemnify SOF and its partners and certain of its affiliates (the &#8220;SOF Indemnified Persons&#8221;), for any additional taxes, interest, penalties and other costs that might be imposed upon or incurred by the SOF Indemnified Persons in the event that the Company is determined by the Internal Revenue Service (the &#8220;IRS&#8221;) to be a &#8220;controlled foreign corporation&#8221; (a &#8220;CFC&#8221;) or a &#8220;passive foreign investment company&#8221; (a &#8220;PFIC&#8221;), as such terms are interpreted and defined under IRS rules and regulations.&nbsp; The Company has determined that it was not a CFC or PFIC at any time during the 2013 fiscal year and does not believe that it is likely to become a CFC or a PFIC; however, the Company cannot provide any assurances that it will not become a CFC or a PFIC in the future.&nbsp;</FONT></P></DIV>

<P style="TEXT-ALIGN: center">9</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_14"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In addition, the Company granted certain registration rights to SOF with respect to its Common Shares (the &#8220;Registrable Securities&#8221;) in the Shareholders Agreement.&nbsp; In particular, the Company agreed to use its reasonable best efforts to prepare and file, and cause to go effective, as soon as practicable, a shelf registration statement covering the resale of the Registrable Securities on a delayed or continuous basis.&nbsp; The Company also agreed to use its reasonable best efforts to keep its shelf registration statement effective until all Registrable Securities have been sold or until all Registrable Securities may be sold without restriction pursuant to Rule 144 promulgated pursuant to the Securities Act of 1933, as amended.&nbsp; In addition, the Company granted to SOF two demand registration rights for underwritten offerings and customary piggyback registration rights with regard to the Registrable Securities.&nbsp; Moreover, the Company agreed to use its reasonable best efforts to cause the Common Shares to be listed on a national &#8220;Securities Market,&#8221; which means any of the NASDAQ Stock Market, Inc. (Global Market or Global Select Market), the American Stock Exchange LLC (now known as NYSE Amex Equities) or the New York Stock Exchange LLC, not later than January 31, 2009, subject to notice and a sixty (60) day cure period.&nbsp; All of the costs and expenses of the Company in connection with the fulfillment of its obligations under the Shareholders Agreement were to be paid by the Company, other than underwriting fees, discounts and commissions attributable to the sale of Common Shares held by SOF.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under the Shareholders Agreement, if the Company failed to fulfill its obligations thereunder, SOF would have a claim for damages against the Company.&nbsp; No such claim has been made.&nbsp; In addition, if the Company fulfilled its reasonable best efforts undertakings but failed to meet one or more of the stated goals, SOF would have a put right of their Common Shares to PEWC.&nbsp; In accordance with those terms, on February 2, 2009, SOF delivered to PEWC notice of its exercise of the put right under the Shareholders Agreement due to the fact that the Common Shares were not listed on a national Securities Market as of January&nbsp;31, 2009.&nbsp; On March 27, 2009, SOF sold 51% of its Common Shares to PEWC pursuant to the terms of a share purchase agreement between those parties.&nbsp; Upon the consummation of that share purchase agreement, SOF held 1,355,415 registered Common Shares of the Company and PEWC held 1,410,739 registered Common Shares, respectively, representing 9.8% and 10.2% of the outstanding Common Shares, with PEWC holding an additional 7,664,615 unregistered Common Shares, giving it an aggregate of 65.6% of the total issued and outstanding Common Shares.&nbsp; In connection with this transaction, the Company, PEWC and SOF entered into the Amended and Restated Shareholders Agreement, which among other things, granted to the Company an extension for listing the Common Shares on a national Securities Market until February 2011 and maintained for SOF the right to sell its remaining Common Shares to PEWC in the event the Company did not list its Common Shares on a national Securities Market by such time.&nbsp; In April 2011, the Common Shares of the Company were approved for trading on the NASDAQ Capital Markets tier, which tier does not fit within the definition of a national &#8220;Securities Market&#8221;, as provided in the Amended and Restated Shareholders Agreement.&nbsp; As of July 1, 2011, SOF transferred its Common Shares to COF, at which time COF executed a joinder agreement and became a party to the Amended and Restated Shareholders Agreement and succeeded to the rights and interests of SOF thereunder.&nbsp; The Company is not aware that COF has taken any action with respect to the Common Shares held by it. &nbsp;The Amended and Restated Shareholders Agreement also provides for those put, registration and indemnification rights set forth above in the description of the Shareholders Agreement and such rights now apply to COF in place of SOF.&nbsp; While the sale of Common Shares by SOF to PEWC resulted in PEWC holding a higher concentration of Common Shares which may impact liquidity for the other shareholders, the Company does not believe that any definitive impact can be determined.&nbsp;</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In addition, sales of Common Shares held by COF and registered under the shelf registration statement, or any registration statement that goes effective following an exercise of demand registration rights, will increase the number of Common Shares available for purchase in the public market and may adversely affect the value of the Common Shares held by other shareholders.&nbsp; Even without substantial sales by COF or PEWC of their respective Registrable Securities, the possibility of such sales may create a &#8220;market overhang&#8221; that has the effect of depressing the trading price of the Common Shares.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has also granted to COF preemptive rights in the event of any issuance of additional equity securities (or securities convertible into or exchangeable for equity securities) by the Company, such that COF </FONT>


<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">may subscribe for additional securities in order to maintain its then percentage ownership interest in the issued and outstanding equity securities of the Company.</FONT></P>

<P style="TEXT-ALIGN: center">10</P></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_15"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">




<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Holding Company Structure; Potential Restrictions on the Payment of Dividends</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We have no direct business operations other than our ownership of the capital stock of our subsidiaries and joint venture holdings.&nbsp; While we have no present intention to pay dividends, should we decide in the future to do so, as a holding company our ability to pay dividends and meet our other obligations will depend upon the amount of distributions, if any, received from our operating subsidiaries and other holdings and investments.&nbsp; Our operating subsidiaries and other holdings and investments, from time to time, may be subject to restrictions on their ability to make distributions to us, including as a result of restrictive covenants contained in loan agreements, restrictions on the conversion of local currency earnings into U.S. dollars or other hard currency and other regulatory restrictions.&nbsp; For example, PRC legal restrictions permit payments of dividends by our business entities in the PRC only out of their retained earnings, if any, determined in accordance with relevant PRC accounting standards and regulations.&nbsp; Under PRC law, such entities are also required to set aside a portion of their net income each year to fund certain reserve funds.&nbsp; These reserves are not distributable as cash dividends.&nbsp; The foregoing restrictions may also affect our ability to fund operations of one subsidiary with dividends and other payments received from another subsidiary.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -0.7pt; MARGIN: 0cm 0cm 12pt 23pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Requirement to Maintain Effectiveness of the Registration Statement and to List on a National Securities Exchange; Effect of the Put of the COF Shares to PEWC</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under the Amended and Restated Shareholders Agreement, COF has retained the right to sell its remaining Common Shares (the &#8220;COF Shares&#8221;) to PEWC if the Company does not achieve a listing on a national Securities Market within the time frame provided in the agreement or the Company fails to maintain a listing on a national Securities Market after it has been attained.&nbsp; The Company&#8217;s Common Shares are currently listed on the NASDAQ Global Markets tier. In addition, the Company has agreed to maintain the effectiveness of the registration statement on Form F-3, for the benefit of COF, and if the Company fails to do so for any period of thirty (30) consecutive trading days or an aggregate of sixty&nbsp;(60) trading days during any twelve month period, then COF may, subject to compliance with notice and other procedural requirements, exercise a right to sell its remaining Common Shares to PEWC.&nbsp; At all times, the Company must exercise its reasonable best efforts to comply with its covenants under the Amended and Restated Shareholders Agreement.&nbsp; Otherwise, the Company could be subject to a damages claim by COF.&nbsp;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Corporate Matters; Limited Recourse; Limited Enforceability</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We are incorporated in and organized pursuant to the laws of Bermuda.&nbsp; In addition, all of our directors and officers reside outside the United States and our material assets are located outside the United States.&nbsp; As a result, it may be difficult for investors to effect service of process within the United States upon such persons or to realize against them in courts of the United States upon judgments predicated upon civil liabilities under the United States federal securities laws.&nbsp; Even if investors are successful in realizing against such persons in courts of the United States, the laws of Taiwan may render such investors unable to enforce the judgment against the Company&#8217;s assets or the assets of its officers and directors.&nbsp; Also, investors may have difficulty in bringing an original action based upon the United States federal securities law against such persons in the Taiwan courts.&nbsp; Additionally, we have been advised by our legal counsel in Bermuda, Appleby (Bermuda) Limited, that there is doubt as to the enforcement in Bermuda, in original actions or in actions for enforcement of judgments of United States courts, of liabilities predicated upon U.S. federal securities laws, although Bermuda Courts will enforce foreign judgments for liquidated amounts in civil matters subject to certain conditions and exceptions.&nbsp; As a result, shareholders may encounter more difficulties in enforcing their rights and protecting their interests in the face of actions taken by management, the Board of Directors or controlling shareholders than they would if the Company were organized under the laws of the United States or one of the states therein, or if the Company had material assets located within the United States or some of the directors </FONT>

<a name="page_16"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">and officers were resident within the United States.&nbsp; See &#8220;Enforceability of Certain Civil Liabilities&#8221; for additional information.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">11</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_16></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.3.4&nbsp;&nbsp;&nbsp;&nbsp; Risks Relating to Our Business</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Risks Relating to Copper</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Copper is the principal raw material we use, accounting for a majority of the cost of sales.&nbsp; We purchase copper at prices based on the average prevailing international spot market prices on the LME for copper for the one month prior to purchase, or the first five days of the current average copper price.&nbsp; The price of copper is affected by numerous factors beyond our control, including international economic and political conditions, supply and demand, inventory levels maintained by suppliers, actions of participants in the commodities markets and currency exchange rates.&nbsp; As with other costs of production, changes in the price of copper may affect the Company&#8217;s cost of sales.&nbsp; Whether this has a material impact on our operating margins and financial results depends primarily on the Company&#8217;s ability to adjust selling prices to its customers, such that increases and decreases in the price of copper are fully reflected in those selling prices.&nbsp; Most of our sales of manufactured products reflect the cost of copper used to manufacture those products at the time the products are ordered.&nbsp; In the ordinary course of business we maintain inventories of raw materials and finished products reasonably necessary for the conduct of our business.&nbsp; These inventories typically reflect the cost of copper prevailing in the market at the time of purchase.&nbsp; A long-term decrease in the price of copper would require the Company to revalue its inventory at periodic intervals to the then net realizable value, which could be below cost.&nbsp; Copper prices have been subject to considerable volatility and it is not always possible to manage our copper purchases and inventory so as to neutralize the impact of copper price volatility.&nbsp; Accordingly, significant volatility in copper prices could have an adverse effect on our operations. No assurance can be given that such volatility will not recur.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Risks related to our Customer Base and our Geographic Markets</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our sales of manufactured and distributed products are made primarily to customers that use our products as components in their own products or in construction or infrastructure projects in which they participate.&nbsp; The volume of our sales is significantly correlated with overall economic conditions in the markets in which we compete, including how much our customers invest in their own product manufacturing or project development.&nbsp; Increases or decreases in economic activity and investment in the markets where we operate generally will result in higher or lower sales volume and higher or lower net income for the Company.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 21pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Risks relating to Force Majeure Events</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Operations and other business conducted at our plants and other facilities are at risk to acts of god consisting of uncontrollable natural and climatic events (often referred to as force majeure events), such as the 2011 flooding in much of Thailand that severely disrupted our manufacturing operations at the Siam Pacific Electric Wire and Cable Ltd. (&#8220;Siam Pacific&#8221;) plant, a subsidiary 100% controlled by Charoong Thai.&nbsp; The flooding affected much of our Thai operations and forced the suspension of operations of Siam Pacific for a period of five months resulting in 20% reduction in product sales in 2011.&nbsp; The adverse impact of the flooding carried over into 2012.&nbsp; Since then in Thailand the insurance coverage includes fire and theft, but does not include flood nor losses due to business interruption.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Risks Relating to North Asia Region</FONT></I></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Economic Reform Measures in the PRC May Adversely Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The PRC government has gradually moved away from a planned economic model and implemented economic reform measures emphasizing decentralization, utilization of market forces in the development of the economy and a high level of management autonomy.&nbsp; When General Secretary Xi Jinping took office in December 2012, the government decreased its focus on export-oriented activities and placed greater emphasis </FONT>

<a name="page_17"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">on building up rural areas in China, including integrating a number of primitive, largely inaccessible agricultural areas into the national economy.&nbsp; However, many of the reforms are unprecedented and may be subject to revision, modification or termination based on the outcomes of the reform efforts and other considerations, including their impact on societal stability.&nbsp; There is no sufficient administrative or judicial precedent to permit the Company to determine with any degree of certainty how the reforms will impact our business in China.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">12</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_17></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 0.55pt; MARGIN: 0cm 0cm 12pt 22.5pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Any Decrease in Real Estate Development and Construction Activities in China May Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our wire and cable products are manufactured and sold in China and are used in the commercial and residential real estate industry and in infrastructure development.&nbsp; Therefore, the demand for our wire and cable products is affected by the pace of modernization and the growth of the real estate industry in China, which could in turn be affected by a number of factors, such as the level of governmental investment in infrastructure development, the strength of the commercial and residential real estate markets, the level of disposable income, consumer confidence, unemployment rate, interest rates, credit availability and volatility in the stock markets.</FONT></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">To dampen an over-heated real estate market, the PRC government implemented a series of measures in the real estate market.&nbsp; Beginning in 2011, the PRC government began to curtail&nbsp;real estate credit and the credit curtailment policy remains ongoing for the present.&nbsp;The real estate market in China may also be negatively affected by the reform of real estate tax system in respect of levying real estate tax on individually owned real estate which is not used for a business purpose, which has already been implemented by certain local government authorities and may be expanded nationwide sometime in the future.</FONT></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Any decrease in commercial and residential real estate development and construction activities would certainly affect the demand for our manufactured products and may affect the Company&#8217;s results of operations or financial condition.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The PRC Legal System May Limit the Company&#8217;s Remedies</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The PRC legal system is a civil law system based on written statutes.&nbsp; Prior court decisions may be cited for reference but have limited precedential value.&nbsp; Since the late 1970s, the PRC central government has promulgated a large volume of laws and regulations governing economic matters such as foreign investment, corporate organization and governance, commerce, taxation and trade.&nbsp; In particular, since reforms first introduced in 1979, the PRC legislation and regulations have significantly enhanced the protections afforded to various forms of foreign investment in China.&nbsp; Foreign investment laws and regulations in China are evolving and the interpretations of many laws, regulations and rules are not always uniform.&nbsp; Accordingly, enforcement of these laws, regulations and rules involves uncertainties, which may limit the remedies available to us in the event of any claims or disputes with third parties.&nbsp; In addition, any litigation in China may be protracted and could result in substantial costs and diversion of resources and management attention.&nbsp; As the PRC legal system continues to evolve, we cannot predict future developments in the PRC legal system, including promulgation of new laws, changes to existing laws or the interpretation and enforcement thereof.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Governmental Control over the Convertibility of Currency May Restrict the Payment of Dividends</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The PRC government imposes controls on the convertibility of Renminbi into foreign currencies and in certain cases, the remittance of currency out of China.&nbsp; Under existing PRC foreign exchange regulations, payments of current account items, including profit distributions, interest payments and expenditures from trade related transactions, can be made in foreign currencies without prior approval from the State Administration of Foreign Exchange (&#8220;SAFE&#8221;) by complying with certain procedural requirements.&nbsp; However, approval from SAFE or its local branch is required where foreign currency is remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies unless SAFE has </FONT>

<a name="page_18"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">pre-approved the amortization schedule of the foreign currency loan in question.&nbsp; The PRC government may also in its discretion put restrictions on access in the future to foreign currencies for current account transactions.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">13</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_18></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Pursuant to the Foreign Exchange Administration Regulation promulgated on January 29, 1996, as amended on January 14, 1997 and August 5, 2008, and various regulations issued by the SAFE and other relevant PRC government authorities, the Renminbi is freely convertible only with respect to current account items, such as trade-related receipts and payments, interest and dividends.&nbsp; Capital account items, such as direct equity investments, loans and repatriations of investments, require the prior approval of the SAFE or its local branches for conversion of Renminbi into foreign currency, such as U.S. dollars, and remittance of the foreign currency outside the PRC.&nbsp; Payments for transactions that take place within the PRC must be made in Renminbi.&nbsp; Foreign exchange transactions under the capital account are still subject to limitations and require approvals from, or registration with, the SAFE and other relevant PRC governmental authorities, or their competent local branches.</FONT></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our PRC subsidiaries are subject to the PRC laws and regulations on currency conversion.&nbsp; The ability of our PRC subsidiaries to pay dividends or make other distributions to their shareholders may be restricted by these PRC foreign exchange control restrictions.&nbsp; We cannot determine whether the relevant regulations might be amended such that the ability of our PRC subsidiaries to distribute dividends to their shareholders might be adversely affected.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PRC Regulations of Loans to and Direct Investment in PRC Entities by Offshore Holding Companies may delay or prevent us from making Loans or additional Capital Contributions to our PRC Subsidiaries, which could adversely affect our ability to fund and expand our business</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We conduct substantial business operations in China.&nbsp; We may make loans to our PRC subsidiaries, or we may make additional capital contributions to our PRC subsidiaries.&nbsp; Loans by APWC or any of our offshore subsidiaries to our PRC subsidiaries, which are treated as foreign-invested enterprises under PRC law, are subject to PRC regulations and foreign exchange loan registrations.&nbsp; Such loans to any of our PRC subsidiaries to finance their activities cannot exceed statutory limits and must be registered with the local counterpart of the SAFE.&nbsp; The statutory limit for the total amount of foreign debts of a foreign-invested enterprise is the difference between the amount of total investment as approved by the PRC Ministry of Commerce or its local counterpart and the amount of registered capital of such foreign-invested enterprise.&nbsp; We may also decide to finance our PRC subsidiaries by means of capital contributions.&nbsp; These capital contributions must be approved by the PRC Ministry of Commerce or its local counterpart.</FONT></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On August 29, 2008, the SAFE promulgated SAFE Circular No. 142, a notice regulating the conversion by a foreign-invested company of foreign currency into Renminbi by restricting how converted Renminbi may be used.&nbsp; This notice requires that the Renminbi capital converted from the foreign currency-denominated capital of a foreign-invested enterprise only be used for purposes within the business scope approved by the applicable governmental authority and may not be used for equity investments within the PRC unless specifically provided for otherwise in its business scope.&nbsp; In addition, the SAFE strengthened its oversight of the flow and use of the Renminbi capital converted from the foreign currency-denominated capital of a foreign-invested enterprise. &nbsp;The use of such Renminbi capital may not be changed without SAFE&#8217;s approval and may not be used to repay Renminbi loans if the proceeds of such loans have not yet been used for purposes within the Company&#8217;s approved business scope.&nbsp; As a result, SAFE Circular No. 142 may impose an additional layer of bureaucratic compliance and could, under certain circumstances, limit our ability to transfer the proceeds from our non-RMB denominated borrowing arrangements outside of the PRC to our PRC subsidiaries, which may, absent the requisite approvals from SAFE, adversely affect the continued growth of our business.</FONT></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Furthermore, the SAFE promulgated a SAFE Circular No. 45 on November 9, 2011, which, among other things, restricted a foreign-invested enterprise from using the Renminbi capital converted from its registered </FONT>

<a name="page_19"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">capital to provide entrusted loans or repay loans between non-financial companies.&nbsp; Violations of these circulars may result in severe penalties, including substantial fines as set forth in the Foreign Exchange Administration Regulation.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">14</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_19></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In light of the various requirements imposed by PRC regulations on loans to and direct investment in PRC entities by offshore holding companies, including SAFE Circulars referred to above, we cannot assure you that we will be able to complete the necessary government registrations or obtain the necessary government approvals on a timely basis, if at all, with respect to future loans or capital contributions by us to our PRC subsidiaries and conversion of such loans or capital contributions into Renminbi.&nbsp; If we fail to complete such registrations or obtain such approvals, our ability to capitalize or otherwise fund our PRC operations may be negatively affected, which could adversely affect our ability to fund and expand our business.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Political or Social Instability in the PRC May Adversely Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Political or social instability in China could also adversely affect our business operations or financial condition.&nbsp; In addition, adverse public health epidemics or pandemics in China could not only interfere with our ability to operate our PRC subsidiaries, but could also affect the country&#8217;s overall economic growth, which could in turn affect the sales of our products in China.&nbsp; Growing environmental awareness and concern over the deterioration of the quality of the environment in China, including air and water quality, could dampen domestic industrial growth and reduce foreign investor interest in PRC investment.&nbsp; In addition, as our corporate headquarters are located in Taipei, any escalation in political tensions between the PRC and the government of Taiwan could impact adversely our ability to manage our Chinese operations efficiently or without third party interference.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Inflation in the PRC May Adversely Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The rapid growth of the PRC economy has historically resulted in high levels of inflation, coupled with a rise in the value of RMB against U.S. dollars.&nbsp; The PRC government has publicly announced its commitment to control inflation, and the anti-inflation policies of the PRC government may have an adverse effect on the business climate and growth of private enterprise in the PRC.&nbsp; An economic slowdown may increase our costs.&nbsp; If inflation is significant, our costs would likely increase, and there can be no assurance that we would be able to increase our prices to an extent that would offset the increase in our expenses.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PRC Power Shortages and Lack of Insurance May Adversely Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We consume substantial amounts of electricity in our manufacturing processes at our production facilities in China.&nbsp; Certain parts of China have been subject to power shortages in recent years.&nbsp; We have experienced a number of power shortages at our production facilities in China to date, particularly in Shenzhen where numerous clusters of factories are situated.&nbsp; We are sometimes given advance notice of power shortages, but often power shortages or outages occur unexpectedly for various period of time.&nbsp; We currently have a backup power system at certain of our production facilities in China.&nbsp; However, there can be no assurance that in the future our backup power system will be completely effective in the event of a power shortage, particularly if that power shortage is over a sustained period of time and/or we are not given advance notice thereof.&nbsp; Any power shortage, brownout or blackout for a significant period of time may disrupt our manufacturing, and as a result, may have an adverse impact on our business.</FONT></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The insurance industry in China is still at an early stage of development and foreign insurance companies are permitted to operate only in a certain large cities.&nbsp; PRC insurance companies do not offer extensive business insurance products.&nbsp; As a result, we have limited business liability and disruption insurance coverage for our operations in China.&nbsp; Any business disruption, litigation or natural disaster might result in our </FONT>

<a name="page_20"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">incurring substantial costs and the diversion of resources, which could have a material adverse effect on our business and operations.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">15</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_20></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PRC Tax Treatments May Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On March 16, 2007, the National People&#8217;s Congress of the PRC, passed the new PRC Enterprise Income Tax Law (the &#8220;New EIT Law&#8221;).&nbsp; Under the New EIT Law, effective January 1, 2008, China adopted a uniform tax rate of 25% for all enterprises (including foreign-invested enterprises) and revoked the then current tax exemption, reduction and preferential treatments applicable to foreign-invested enterprises.&nbsp; However, there is a transition period for enterprises, whether foreign-invested or domestic, that were receiving preferential tax treatments granted by relevant tax authorities at the time the New EIT Law became effective.&nbsp; The transition period granting a continued preferential tax treatment is expired and our operations in China are subject to the 25% uniform tax rate.&nbsp; In the beginning of 2012, the Chinese government announced that it was contemplating a conversion of its sales tax system into a value added tax system (&#8220;VAT&#8221;).&nbsp; While a change to a VAT system would help alleviate sales taxes to some extent, the details of the proposed changes are still unknown to industries and trading enterprises.&nbsp; Accordingly, the Company cannot say what impact, if any, a conversion to a VAT system of taxation might have on the Company&#8217;s financial results.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Dividends Payable by Our PRC Subsidiaries to Their Respective Offshore Investors May Be Subject to PRC Withholding Taxes</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under the New EIT Law and related regulations, dividends, interests, rent or royalties payable by a foreign-invested enterprise, such as our PRC subsidiaries, to any of its foreign non-resident enterprise investors, and proceeds from any such foreign enterprise investor&#8217;s disposition of assets (after deducting the net value of such assets) are subject to a 10% withholding tax, unless the foreign enterprise investor&#8217;s jurisdiction of incorporation has a tax treaty with China that provides for a reduced rate of withholding tax.&nbsp; Undistributed profits earned by foreign-invested enterprises prior to January 1, 2008 are exempted from any withholding tax.&nbsp; Bermuda, where APWC, the direct investor of our certain PRC subsidiaries, is incorporated, does not have such a tax treaty with China.&nbsp; Hong Kong, where </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Crown Century Holdings Limited (&#8220;CCH HK&#8221;)</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, the sole investor of </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Pacific Electric Wire and Cable (Shenzhen) (&#8220;PEWS&#8221;)</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, is incorporated, has a tax arrangement with China that provides for a 5% withholding tax on dividends subject to certain conditions and requirements, such as the requirement that the Hong Kong resident enterprise own at least 25% of the PRC enterprise distributing the dividend at all times within the 12-month period immediately preceding the distribution of dividends and be a &#8220;beneficial owner&#8221; of the dividends.&nbsp; If our PRC subsidiaries declare and distribute profits earned after January 1, 2008 to their respective offshore investors in the future, such payments will be subject to withholding tax.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.7pt; MARGIN: 0cm 0cm 12pt 22.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Labor Law Legislation in the PRC May Adversely Affect the Company&#8217;s Operations or Financial Condition</FONT></I></P>
<P style="TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The PRC Labor Contract Law became effective on January 1, 2008 and was amended on December 28, 2012.&nbsp; It formalizes workers&#8217; rights concerning overtime hours, pensions, layoffs, employment contracts and the role of trade unions.&nbsp; Considered one of the strictest labor laws in the world, among other things, this new law requires an employer to conclude an &#8220;open-ended employment contract&#8221; with any employee who either has worked for the employer for ten years or more or has had two consecutive fixed-term contracts.&nbsp; An &#8220;open-ended employment contract&#8221; is in effect a lifetime, permanent contract, which is terminable only in specified circumstances, such as a material breach of the employer&#8217;s rules and regulations, or for a serious dereliction of duty.&nbsp; Such employment contracts with qualifying workers would not be terminable if, for example, the Company determined to downsize its workforce in the event of an economic downturn.&nbsp; Under the new law, downsizing by 10% or more (or more than 20 persons) may occur only under specified circumstances, such as a restructuring undertaken pursuant to the PRC Enterprise Bankruptcy Law, or where a company suffers serious difficulties in production and/or business operations.&nbsp; Any of the Company&#8217;s staff employed to work exclusively within the PRC are covered by the new law and thus, the Company&#8217;s ability to </FONT>

<a name="page_21"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">adjust the size of its operations when necessary in periods of recession or less severe economic downturns has been curtailed.&nbsp; Accordingly, if the Company faces future periods of decline in business activity generally or adverse economic periods specific to the Company&#8217;s business, this new law can be expected to exacerbate the adverse effect of the economic environment on the Company&#8217;s results of operations and financial condition.&nbsp; Additionally, this law has affected labor costs of our customers which could result in a decrease in such customers&#8217; production and a corresponding decrease in their purchase of our products.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">16</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_21></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Exposure to Foreign Exchange Risks</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fluctuations in foreign exchange rates influence our results of operations.&nbsp; Our principal operations are located in the three geographic regions that have now been designated as our revised business segments; namely, the North Asia region, the Thailand region and the Rest of the World (&#8220;ROW&#8221;) region. &nbsp;</FONT><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">See---section 4.1.1---Certain Recent Events</FONT></I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp; A substantial portion of our aggregate revenues is denominated in the following currencies: &nbsp;Baht, Australian dollars, Singapore dollars or Renminbi.&nbsp; Nearly all of the raw materials for these operations are imported and paid for in U.S. dollars and a substantial portion of our future capital expenditures are expected to be in U.S. dollars.&nbsp; We require a significant amount of U.S. dollars for our ongoing equipment upgrade and maintenance programs.&nbsp; Any devaluation of any of the Baht, the Australian dollar, the Singapore dollar or the Renminbi against the U.S. dollar would increase the effective cost of foreign manufacturing equipment and the amount of our foreign currency denominated expenses and liabilities and would have an adverse impact on our operations.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Although our reporting currency is U.S. dollars, the functional currency of our Thai region, which accounted for 38% of our sales in 2013, is the Thai Baht.&nbsp; The functional currencies of our ROW regions, which accounted for 36% of sales in 2013, are the Australia dollar and the Singapore dollar.&nbsp; The functional currencies for our North Asia operations, which, in total accounted for 26% of our sales in 2013, are divided into two groups: for Shandong Pacific Rubber Cable Company, Ltd. (&#8220;SPRC&#8221;, equity investee with 25% equity owned by APWC, accounting under equity method for consolidation purpose), and Shanghai Asia Pacific Electric Co., Ltd. (&#8220;Shanghai Yayang&#8221;), their functional currency is Renminbi, while for CCH HK and PEWS their functional currency is U.S. dollars. &nbsp;Accordingly, the functional currency accounts of these operations are all translated into U.S. dollars utilizing the reporting date exchange rate for balance sheet accounts, and an average exchange rate for the year for the income statement accounts for the reporting purposes.&nbsp; Such translation of the functional currency accounts is recognized as other comprehensive income in the shareholders&#8217; equity.&nbsp; Any devaluation of the Baht, the Australian dollar, the Singapore dollar, or the Renminbi against the U.S. dollar would adversely affect our financial performance measured in U.S. dollars.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Competition</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The wire and cable industry in the Asia Pacific region is highly competitive.&nbsp; Our competitors include a large number of independent domestic and foreign suppliers.&nbsp; Certain competitors in each of our markets have substantially greater manufacturing, sales, research and financial resources than we do.&nbsp; We and other wire and cable producers compete primarily on the basis of product quality and performance, reliability of supply, customer service and price.&nbsp; To the extent that one or more of our competitors are more successful with respect to the primary competitive factors, our business could be adversely affected.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Risks associated with Required Productivity Increases</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our business strategy includes a focus on increasing profitability through increased efficiency and productivity.&nbsp; In the event we are not able to implement measures to increase efficiencies and productivity, we may be limited in achieving increased profitability or may become less profitable.&nbsp; Moreover, productivity increases are linked to capacity utilization rates.&nbsp; A drop in the utilization rate of our manufacturing capacity would adversely impact productivity.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">17</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_22></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Indebtedness</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">As of December 31, 2013, the Company had a total of $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">270.0&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million in credit available to itself, or one or more of its operating subsidiaries. The available credit is provided by a total of 17 banks in the various regions/territories in which we operate.&nbsp; Out of total available credit, $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">171.7&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million was unused and available for borrowing.&nbsp; The Company, collectively and on an individual basis is not highly leveraged and management does not consider it to be likely that the Company will become highly leveraged.&nbsp; The weighted average borrowing rate, for all the outstanding loans combined, was </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">3.68</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">% for 2013, which runs, at this point in time, slightly higher than like-kind borrowing rates that might be available to us in the marketplace, </FONT><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">i.e.</FONT></I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">, three month LIBOR (data of April&nbsp;17, 2014) of 0.23% plus </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2.5</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">%.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Composite Services Agreement with PEWC</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We engage in transactions in the ordinary course of business with PEWC, including the purchase of certain raw materials and the distribution of PEWC products in various countries in the Asia Pacific region.&nbsp; We and PEWC have entered into a composite services agreement dated November 7, 1996, as amended and supplemented (the &#8220;Composite Services Agreement&#8221;), which contains provisions that define our relationship and the conduct of our respective businesses and confers certain preferential benefits on us.&nbsp; The Composite Services Agreement is renewable at our option and is currently in force.&nbsp; However, we are unable to predict whether PEWC would, at some future date, seek to limit, or be unable to perform in whole or in part, the business it conducts with the Company pursuant to the terms of the Composite Services Agreement.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Risks Relating to Thailand Region</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">A substantial portion of our Thai operations, which accounted for approximately 38% of our total net sales in 2013</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, consists of the manufacture of telecommunications and power cable and sales of those products for use in large-scale telecommunications projects and various construction projects in Thailand.&nbsp; As a result, our future results will depend in part on the political situation in Thailand and the general state of the Thai economy.&nbsp; With the political tension remaining high in Thailand, </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">the&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> continuing political uncertainty and the risk of further social unrest tends to lessen the attractiveness of the local market for foreign investment, and diminishes the focus of the government on infrastructure development, both of which considerations may adversely impact on the volume of business of the Company&#8217;s actual and potential customers in the Thai market.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s Thai operations remain vulnerable to uncertainties with regard to payment for current sales and the award of future contracts in view of the ongoing political instability in Thailand.&nbsp; Additionally, in recent years the Thai economy has been highly cyclical and volatile, depending for economic growth in substantial part on a number of government initiatives for economic expansion. &nbsp;Moreover, the Baht remains volatile and subject to significant fluctuations in relation to the U.S. dollar.&nbsp; Such fluctuations in the value of the Baht may negatively impact our performance.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Environmental Liabilities</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We are subject to certain environmental protection laws and regulations governing our operations and the use, handling, disposal and remediation of hazardous substances used by us.&nbsp; A risk of environmental liability could arise from our manufacturing activities in the event of a release or discharge by us of a hazardous substance.&nbsp; Under certain environmental laws, we could be held responsible for the remediation of any hazardous substance contamination at our facilities and at third party waste disposal sites and could also be held liable for any consequences arising out of human exposure to such substances or other environmental damage.&nbsp; There can be no assurance that the costs of complying with environmental, health and safety laws and requirements in our current operations or the liabilities arising from past releases of, or exposure to, hazardous substances, will not result in future expenditures by us that could materially and adversely affect our financial results, cash flows or financial condition.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">18</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_23></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Alternative Transmission Technologies</FONT></I></P>
<P style="TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our fiber optic and copper-based telecommunications business is subject to competition from other transmission technologies, principally wireless-based technologies.&nbsp; Fiber optic cable is presently being used in telecommunications trunks and feeder cable businesses and minimally in the access cable business.&nbsp; In November 2011 we sold our entire 51% equity interest in SPFO</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">to a group of buyers in China for a cash consideration of $2.9 million, due to its low profit margin generation and fierce competition in the local fiber optic cable market. &nbsp;In January 2013 we completely disposed of another 49% ownership joint venture in Shangdong China:&nbsp; Shangdong Huayu Pacific Fiber Optics, thus we entirely pulled out of the fiber optics business in China.&nbsp; Wireless telecommunications businesses have sometimes made substantial inroads in early emerging markets where sufficient funding may not then be available to install the infrastructure necessary for market-wide fixed line telecommunications.&nbsp; In addition, the ease of use of wireless telecommunications may make that medium an attractive alternative in circumstances where access to fixed line telecommunications is limited.&nbsp; While these technologies do present significant competition in the markets in which we conduct or plan to conduct business, the Company believes that demand for its fixed wire products will remain strong.&nbsp; However, no assurance can be given that the future development and use of such alternative technologies will not adversely affect our results of operations.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 20.15pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">International Business Risks</FONT></I></P>
<P style="TEXT-INDENT: 18pt; MARGIN: 2.2pt 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We are subject to risks specific to our international business operations, including:&nbsp; the risk of supply disruption; production disruption or other disruption arising from events of force majeure, such as the severe weather and climatic events that caused the 2011 floods in Thailand; the outbreak of highly infectious or communicable diseases such as Severe Acute Respiratory Syndrome, swine influenza or pandemics of a similar nature; the risk of potential conflict and further instability in the relationship between Taiwan and the PRC; risks related to national and international political instability, such as disruptions to business activities and investment arising out of the political unrest and turmoil in Thailand; risks related to the recent global economic turbulence and adverse economic developments in a number of Asian markets;</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">risks related to changes in governmental or private sector policies and priorities with respect to infrastructure investment and development;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> unpredictable consequences on the economic conditions in the U.S. and the rest of the world arising from terrorist attacks, and other military or security operations; unexpected changes in regulatory requirements or legal uncertainties regarding tax regimes; tariffs and other trade barriers, including current and future import and export restrictions; difficulties in staffing and managing international operations in countries such as Australia, Singapore, the PRC, Thailand and Taiwan; risks that changes in foreign currency exchange rates will make our products comparatively more expensive; limited ability to enforce agreements and other rights in foreign countries; changes in labor conditions; longer payment cycles and greater difficulty in collecting accounts receivable; burdens and costs of compliance with a variety of foreign laws; limitation on imports or exports and the possible expropriation of private enterprises; and reversal of the current policies (including favorable tax and lending policies) encouraging foreign investment or foreign trade by our host countries.&nbsp; Although we have not experienced any serious harm, except for the flooding situation in Thailand in 2011, in connection with our international operations, we cannot assure you that such problems will not rise in the future.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 4:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information on the Company</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 24.2pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; History and Development of the Company</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">General</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Asia Pacific Wire &amp; Cable Corporation Limited was formed on September 19, 1996 as a Bermuda exempted limited liability company under the Companies Act.&nbsp; The address of the Company&#8217;s principal place of business is 7/Fl. B, No. 132, Sec. 3, Min-Sheng East Road, Taipei, 105, Taiwan, Republic of China, and its </FONT>

<a name="page_24"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">telephone number is (886) 2-2712-2558.&nbsp; Puglisi &amp; Associates, located at 850 Library Avenue, Suite 204, Newark, Delaware 19711, is the Company&#8217;s agent for service of process in the United States.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">19</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_24></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable, enameled wire and electronic wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia.&nbsp; The Company manufactures and distributes its own wire and cable products (&#8220;Manufactured Products&#8221;) and also distributes wire and cable products (&#8220;Distributed Products&#8221;) manufactured by its principal shareholder, PEWC, and other third party suppliers.&nbsp; The Company also provides project engineering services in the supply, delivery and installation (&#8220;SDI&#8221;) of power cables to certain of its customers.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Principal Capital Expenditures</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Total purchases of property, plant and equipment amounted to $11 million in 2012 and $9.5 million in 2013, mostly for newly purchased production machinery and equipment for the CTW group in Thailand and for Ningbo Pacific Cable Co., Ltd. (&#8220;NPC&#8221; or &#8220;Ningbo&#8221;) in Ningbo, China. &nbsp;The addition of a new plant at Shenzhen for the Chinese domestic market also accounted for a portion of our 2013 capital expenditures.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.1.1&nbsp;&nbsp;&nbsp;&nbsp; Certain Recent Events</FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In 2012, the Company determined to convert its financial accounting principles from US GAAP to IFRS. &nbsp;The Company made this change to align the accounting principles used at its public holding company level with those employed for some years by its principal operating subsidiaries and because of the increasing acceptance and usage of IFRS by foreign private issuers. &nbsp;Accordingly, the financial data contained in this report for the fiscal years ended December 31, 2013 and 2012 are reported in accordance with IFRS.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As part of the Company&#8217;s evaluation of its financial reporting, the Company examined its historical business reporting segments, consisting of manufactured products, distribution and SDI project engineering. &nbsp;The Company noted that in some years manufactured products represented 90% or more of total revenues, that SDI project engineering to date has been limited to the Singapore market and that distribution has traditionally been viewed as an ancillary component of the Company&#8217;s overall business plan. &nbsp;After careful deliberation, management decided to reorganize the Company&#8217;s business segments along regional lines, which it believes better reflects the organizational structure, deployment of its assets, cost allocations and information gathering and reporting of the consolidated group.&nbsp; In addition, in 2013 the Company appointed Mr. William Gong Wei as it chief operating officer and Mr. Gong Wei undertook, at the Company&#8217;s request, a reorganization of the lines of reporting among the Company&#8217;s operating subsidiaries to reflect the determination of management to emphasize regional reporting.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company now has three operating segments, consisting of the North Asia Region, the Thailand Region and the Rest of the World (&#8220;ROW&#8221;) Region.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Each segment engages in business activities generating revenues and incurring expenses.&nbsp; Each segment generates a management report which contains its own financial information and submits to the Company&#8217;s chief operating decision maker (&#8220;CODM&#8221;) for review on a monthly basis.&nbsp; The Company&#8217;s Chief Operating Officer (&#8220;COO&#8221;) is the one who reviews all the management reports provided by each segment, makes the decisions on how the resources are to be allocated and assesses the operating performances based on the reports.&nbsp; Each reporting segment has a segment manager who is in charge of the business operations in such region and regularly contacts Company&#8217;s COO to discuss operational-related matters.</FONT></P>
<P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In 2012, the Company commenced a Rule 10b5-1 purchase plan (the &#8220;Share Buy-back Plan&#8221;), to be executed in accordance with Rule 10b-18 under the Exchange Act, for the purchase by the Company of Common Shares up to a value of Two Million Dollars (US$ 2,000,000).&nbsp; Under that plan, the Company </FONT>

<a name="page_25"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">re-purchased a total of 9,300 Common Shares at an average purchase price of $3.38 per share, with the most recent purchase under the Share Buy-back Plan having been made on January&nbsp;10, 2013.&nbsp; On April&nbsp;25, 2013 the Company announced the suspension of the Share Buy-back Plan, as the Board of Directors had determined to review the terms of that plan in light of the recent trading price of the Common Shares on the NASDAQ Capital Markets tier and changes in general market conditions, among other factors, including the pending announcement of 2012 results.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">20</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_25></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On April 19, 2013, the Board reviewed and approved the 2012 financial statements and the accompanying Form 20-F to be filed with SEC. &nbsp;The Board also approved the appointments of Deputy Chief Executive Officer &#8211; Mr. David Sun, Chief Operating Officer &#8211; Mr. William Gong, Deputy Chief Financial Officer &#8211; Mr. Ivan Hsia, and Deputy Chief Operating Officer &#8211; Mr. Cody Wu, taking effect April 1, 2013. &nbsp;In addition, the Board passed the resolution to temporarily suspend the stock buy-back program until such time as it would deem fit to resume the program, and to file a Form 6-K with the SEC attaching the press release announcing the suspension.</FONT></P>
<P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On September 26, 2013, the Board approved the appointment of Mr. Ivan Hsia to the position of Chief Financial Officer, replacing Mr. Frank Tseng due to his personal reasons. &nbsp;The Board also reviewed and approved the APWC half year financial results. &nbsp;In this meeting the Board passed a proposal for a capital infusion of US$ 2.5 million into Shanghai Yayang. &nbsp;Lastly, the Board delegated all procedural matters relating to the 2013 Annual General Meeting of Shareholders (the &#8220;AGM&#8221;) to Mr. Tony Yuan, CEO, and Mr. Ivan Hsia, the CFO.</FONT></P>
<P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On December&nbsp;20, 2012, the Board approved an early repayment of the Bangkok Bank loan at $14 million and the loan was fully paid off in March 2013.</FONT></P>
<P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Effective February&nbsp;15, 2013, the Common Shares of the Company were elevated by NASDAQ to trade on the Global Markets tier.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.1.2&nbsp;&nbsp;&nbsp;&nbsp; Managing Our Business in Current Market Conditions</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In order to address the continuing market challenges facing our business, the Company has taken and plans to continue to implement a number of measures in order to maintain efficient operations.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Specifically, the Company has continued to focus on increased efforts to collect its receivables on a timely basis.&nbsp; The days of sales outstanding in 2013 was&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">98</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> days compared to 91 days in 2012. &nbsp;The Company continues to focus on working actively with all of its significant customers to reduce collection times and minimize write-offs.&nbsp; The Company has also reduced its inventory levels through planned reductions in raw material purchases while negotiating with suppliers to reduce costs of raw materials and supplies.&nbsp; The Company has focused also on reducing operating costs where practicable. &nbsp;We believe that the successful implementation of these actions has had a positive effect on our cash resources, and we intend to continue these measures in order to preserve our liquidity and maintain a strong cash position.&nbsp; As of December 31, 2013, the Company had available and unused lines of credits from suppliers, banks and other lenders totaling, in the aggregate, approximately $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">171.7&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million, a decrease of $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">55.4&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million from that date one year prior. &nbsp;We believe that available and unused amounts of credit are sufficient to support our current working capital needs. &nbsp;The total bank loans and trust receipts outstanding as of December 31, 2013 were $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">16.1&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million lower than that as of December 31, 2012.&nbsp; Trust receipts represent debt incurred by the Company for goods then in its possession.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.1.3&nbsp;&nbsp;&nbsp;&nbsp; Recent Business Trends</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">APWC experienced a 0.3% reduction in overall 2013 revenues against revenue of 2012, but enjoyed an increase in gross profit by </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2.6</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">% against that of 2012.&nbsp; Operating profit was down from $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">20.8</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million in 2012 to $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">17.2&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">million in 2013, due primarily to the insurance proceeds from flood losses of Siam Pacific in 2012.&nbsp; </FONT>

<a name="page_26"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The gross margin improvement in 2013 can be attributed primarily to higher margin on power cables.&nbsp; The&nbsp;Company's gross margin yielded an earnings per share of $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">0.42&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> in 2013, compared to earnings per share of $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">0.70&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> in 2012.&nbsp; </FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">21</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_26></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2&nbsp;&nbsp;&nbsp; Business Overview</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is a holding company that operates its business through operating subsidiaries and joint ventures, principally located in Thailand, China, Singapore and Australia.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt" align=left><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following chart shows the organizational structure of the Company as of December 31, 2013 and its principal operating subsidiaries, including joint venture ownerships, and the percentage of ownership interest and voting power in each case.&nbsp; The location of the headquarters of each company is indicated in parentheses under the company&#8217;s name (&#8220;S&#8221; for Singapore, &#8220;T&#8221; for Thailand, &#8220;A&#8221; for Australia and &#8220;C&#8221; for China or Hong Kong).</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt" align=center>&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt" align=center>
<IMG border=0 src="fp22a.gif">
</P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 12pt 0cm"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Thailand region</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s Thai operations are conducted through Charoong Thai, Siam Pacific, Double D Cable Company Ltd. (&#8220;DD&#8221;) and Siam Fiber Optics Co. Ltd. (&#8220;Siam Pacific Optics&#8221;)</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">22</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_27></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Charoong Thai is a publicly-traded Thai corporation, the shares of which are listed on the Stock Exchange of Thailand (&#8220;SET&#8221;).&nbsp; It manufactures aluminum and copper electric wire, medium and high voltage power cable and telecommunications cable.&nbsp; It has subsidiaries and affiliates in the businesses of optic fiber cable manufacturing and telecommunication and network services.&nbsp; Charoong Thai was established in Thailand in 1967 as a limited public company.&nbsp; As of December 31, 2013, the Company effectively owned 50.93% of the issued and outstanding shares of Charoong Thai.&nbsp; The Company&#8217;s present intention is to maintain majority ownership of the voting securities of Charoong Thai.&nbsp; The board of directors of Charoong Thai may authorize the issuance of additional shares of common stock of Charoong Thai.&nbsp; The Company has preemptive rights to purchase its pro rata share of any additional authorized shares, less amounts reserved for directors, officers and employees.&nbsp; In the event the board of Charoong Thai decides to cause it to issue additional shares, the Company may decide not to exercise its preemptive rights, in which case the Company&#8217;s interest may be diluted. In May 2013, rather than producing premium products, a new subsidiary &#8211; DD was formed by Charoong Thai aiming at producing cable products that were just on par with national standards.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Siam Pacific was established in 1988 as a joint venture between PEWC and Italian-Thai Development Plc (&#8220;Ital-Thai&#8221;), a third party, which at the time was the largest diversified construction company in Thailand, principally engaging in the design, engineering, construction and project management of large-scale civil engineering and telecommunications projects in Thailand.&nbsp; Capitalizing on PEWC&#8217;s wire and cable manufacturing expertise and Ital-Thai&#8217;s significant presence in the local market, Siam Pacific was able to establish its presence in this market and gain knowledge of business opportunities in Thailand.&nbsp; Siam Pacific is now a 100%-owned subsidiary of Charoong Thai and it focuses on the manufacture of telecommunications cable, and enameled wire for the domestic Thailand market. &nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">As we have reported previously, the Siam Pacific operation suffered significant flooding damage in September and October of 2011 but with&nbsp;support from affiliated companies in Taiwan and in China, Siam Pacific resumed full operations during the course of 2012. During 2013, Siam Pacific conducted its operations without any material disruptions.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Based on information published by the Thai Ministry of Commerce on sales by dollar value, the Company believes that Siam Pacific and Charoong Thai are two of the leading telecommunications and power&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">cable and wire manufacturers in Thailand and are two of a very limited number of the government-approved suppliers of telecommunications cables for major public telecommunications projects in Thailand.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">North Asia Region</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">During 2013, the Company&#8217;s China operations were conducted through six business entities &#8211; Shanghai Yayang, CCH HK, PEWS, </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Ningbo, SPRC</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> (equity investee) and PEWC Hong Kong.&nbsp; The operating entities include Shanghai Yayang, formerly known as Shanghai Pacific Electric Co., Ltd., a joint venture in Shanghai incorporated in June 1998 to manufacture enameled wires.&nbsp; The Company&#8217;s effective holding in Shanghai Yayang is 66.35%.&nbsp; Shanghai Yayang manufactures enameled wires with a diameter between 0.05mm and 2.5mm for sale and distribution in the eastern part of China, including to local and Taiwanese based end-users.&nbsp; The board consist of six directors, each of whom are either members of management of Shanghai Yayang who are expatriated from Taiwan or Thai representatives, also expatriated or designated by APWC or PEWC.</FONT></FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company owns 100% of CCH HK, a Hong Kong registered company, and its wholly-owned subsidiary company, PEWS.&nbsp; PEWS manufactures enameled wires for electric, video and audio products primarily for export and with a small portion sold domestically.&nbsp; A new subsidiary - PEWC Hong Kong was created by CCH in August 2013</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=red face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">for the purpose of becoming the trading arm for PEWS, replacing Epan Industries Pte Ltd. (&#8220;Epan&#8221;) in Singapore</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">, an indirect, wholly-owned subsidiary of APWC, which originally acted as the distributor for PEWS products</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp; The Company believes that PEWS is one of the major manufacturers of enameled wire products in the southern Chinese market.&nbsp;</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">23</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_28></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Throughout 2013, the Company engaged in the development of new, and the refurbishment of existing, manufacturing facilities and operations located in Ningbo, China. &nbsp;After ceasing operations at Ningbo in 2006, the Company maintained its interests in land and certain plant and equipment located at the Ningbo site. &nbsp;APWC also bought out the interest of its joint venture partner and now owns 100% of the property, plant and equipment at Ningbo.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company holds a 25.0% interest in SPRC, which manufactures rubber cable for the China market.&nbsp; The remaining 75% is owned by Shandong Yanggu Wire &amp; Cable Corp. Ltd. (&#8220;Shandong Yanggu&#8221;), an established cable manufacturer in Shandong Province that produces a wide range of cable products and is considered one of the major cable producers in China.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Company held a 49% interest in a joint venture called Shandong Huayu Pacific Fiber Optics Communication, Co., Ltd., which engages in the manufacture of optic fibers.&nbsp; In January 2013, the Company completed the sale of its 49% interest in SHP to its joint venture partner, Shandong Pacific Fiber Optics Cable Co. Ltd., which acquired 100% of SHP as of the closing of that sale.&nbsp; Due to a severe downturn in the market for fiber optic cable after the SHP joint venture was established, the plant intended to be constructed for manufacturing fiber optic cable was not completed and a production date for commencing operations had not been determined.&nbsp; The Company received RMB 9.5 million for its 49% interest in SHP, which yielded a gain for the Company of over $0.2 million. &nbsp;The management considered disposing of its interest in SHP for some time because this equity investee has been in a loss position for several years and because fiber optic cable in Shandong Province is not an element of the Company&#8217;s core business plan.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> &nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Rest of the World (&#8220;ROW&#8221;) Region</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s ROW Region currently includes its Singapore and Australian operations.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s Singapore operations are principally conducted through its 98.3%-owned subsidiary, Sigma Cable Company (Private) Limited (&#8220;Sigma Cable&#8221;).&nbsp; The Company believes that Sigma Cable is one of the major suppliers of power cable products in Singapore.&nbsp; Sigma Cable manufactures and sells a range of low voltage power cable products, used mainly in infrastructure projects and commercial and residential </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">developments.&nbsp; Sigma Cable is the exclusive distributor in Singapore of medium and high voltage wire and cable products manufactured by PEWC. &nbsp;It is also the distributor for general wire manufactured by a third party supplier.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sigma Cable also has project engineering operations in Singapore to supply, deliver and install primarily medium and high voltage cable to power transmission projects.&nbsp; While the Company currently obtains its supply of medium and high voltage power cable for its SDI operations from PEWC, other suppliers are also available if necessary.&nbsp; The Company anticipates that there will be modest demand for medium and high voltage power cable projects sponsored by the Singapore government in the fairly near future.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company also holds a 100% interest in Sigma</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Epan Industries, Pte. Ltd. (&#8220;Sigma-Epan&#8221;), with its headquarters and limited trading operations in Singapore.&nbsp; Prior to ceasing manufacturing operations in May of 2007, Sigma</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Epan manufactured specialty cables and assembled cable harnesses for the electronics, computer, building automation, audio and communication industries.&nbsp; Sigma</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Epan continues to trade specialty electronic and other types of cables.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Australia</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Company&#8217;s business in Australia is conducted by Australia Pacific Electric Cable Pty. Ltd. (&#8220;APEC&#8221;).&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company went through group restructurings in March 2010 and in June 2012. CCH HK, in total, acquired 64.79% of the shares of APEC from Sigma Cable. &nbsp;The Company&#8217;s effective interest in APEC is now 99.4%. &nbsp;APEC is located near Brisbane and is one of three major wire and cable manufacturers in Australia.&nbsp; APEC produces a range of power cables supplemented by imports from overseas sister companies.&nbsp; APEC possesses a substantial marketing and distribution infrastructure with a network of sales offices and warehouses in the major cities of Brisbane, Sydney, Melbourne and Perth.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">24</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_29></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></I>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.1&nbsp;&nbsp;&nbsp;&nbsp; Products and Services</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company engages in three principal business lines consisting of the manufacture of wire and cable products, the distribution of certain wire and cable products manufactured by PEWC, as well as some third party products, and the provision of project engineering services to certain of its customers.&nbsp; The Company manufactures and sells a wide variety of wire and cable products primarily in four general categories:&nbsp; telecommunications cable, power transmission cable, enameled wire, and electronic wire.&nbsp; The Company&#8217;s telecommunications and power cables are used in a range of infrastructure projects and in commercial and residential developments.&nbsp; The Company&#8217;s enameled wire is used in the manufacturing of components and sub-components of a number of household appliances and various small machinery.&nbsp; The electronic wire products, which include cable harnesses, are used in the electronics, computer, building automation, audio and communication industries.&nbsp; In addition, the Company acts as a distributor of wire and cable products in Singapore manufactured by PEWC and other third party suppliers.&nbsp; The Company also offers SDI </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(Supply, Deliver and Install)</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> project engineering services of medium and high voltage cable for power transmission projects in Singapore.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 2.2pt 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Distribution Products</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has a sales and marketing force for the distribution of its Manufactured Products in the markets where it has manufacturing facilities and in certain other Asian markets.&nbsp; In addition, the Company is a distributor of wire and cable products manufactured by PEWC and other third party suppliers.&nbsp; The leading PEWC products sold by the Company are medium and high voltage power cable (with capacities ranging from 3.3 kilovolts to 69 kilovolts), with the vast majority of such sales made in Singapore.&nbsp; The PEWC products sold by the Company do not compete with the Company&#8217;s Manufactured Products. &nbsp;In addition, </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">from time to time, </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">certain subsidiaries also sell distributed products from other suppliers in Thailand and Australia.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">SDI Project Engineering Services</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Based upon the needs of government and the private sector with regard to residential and commercial buildings and infrastructure projects in Singapore, the Company anticipates modest demand for medium and high voltage power and for value added services in the power supply industry.&nbsp; To take advantage of these opportunities, the Company has developed its SDI project engineering capability.&nbsp; The SDI project engineering involves supply, delivery and installation primarily of medium and high voltage cable to power transmission projects in Singapore.&nbsp; After entering into a contract to supply, deliver and install cable for a power transmission project, the Company delivers medium and high voltage cables and enters into subcontracting agreements with local companies to install the cable as required by the project.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.2&nbsp;&nbsp;&nbsp;&nbsp; Manufacturing</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Copper rod is the base component for most of the Company&#8217;s products.&nbsp; The manufacturing processes for these products require that the rod be &#8220;drawn&#8221; and insulated.&nbsp; In the &#8220;drawing&#8221; process, copper rod is drawn through a series of dies to reduce the copper to a specific diameter.&nbsp; For certain applications, the drawn copper conductor is then plated with tin.&nbsp; Copper used in cable is covered with various insulating materials that are applied in an extrusion process.&nbsp; The insulated wires are then combined, or &#8220;cabled&#8221; to produce the desired electrical properties and transmission capabilities.&nbsp; Then, depending upon the cable, some form of protective cover is placed over the cabled wires.&nbsp; A summary of the manufacturing process used for the Company&#8217;s primary wire and cable products is set forth below.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">25</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_30></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Telecommunications Cable</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company produces a wide range of bundled telecommunications cable for telephone and data transmissions with different capacities and insulations designed for use in various internal and external environments principally as access cable to connect buildings and residents to trunk cables.&nbsp; Telecommunications cables produced by the Company include copper-based and fiber optic cables.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Production of copper-based telecommunications cable begins by drawing a copper rod until it has reached the desired diameter, after which the drawn wires are subjected to a process called &#8220;annealing&#8221; in which the wires are heated in order to make the wires softer and more pliable.&nbsp; Utilizing an extrusion process, which involves the feeding, melting and pumping of a compound through a die to shape it in final form as it is applied to insulate the wire, the wires are then covered by a polyethylene (&#8220;PE&#8221;) or polyvinyl chloride (&#8220;PVC&#8221;) compound and foam skin, suitable for different installations and environmental conditions.&nbsp; In order to reduce the cross-talk between pairs of communication wires, the insulated wires are then &#8220;twinned&#8221; or twisted so that two insulated single wires are combined to create a color-coded twisted pair.&nbsp; The twisted pairs of wire are then &#8220;cabled&#8221; or &#8220;stranded&#8221; into units of 25 twisted pairs for combination with other 25 pair units to form cable of various widths and capacities.&nbsp; The appropriate number of units is cabled together after stranding to form a round cable core.&nbsp; Depending upon the planned environment, a petroleum jelly compound may then be added to fill the cable core to seal out moisture and water vapor.&nbsp; Aluminum or copper tape is used to &#8220;shield&#8221; the cable and, finally, the shielded cable core is covered by plastic outer sheathing.&nbsp; The Company manufactures telecommunications cable with capacities and sizes ranging from 25 to 3,000 pairs of 0.4 mm-diameter wire to 10 to 600 pairs of 0.9 mm-diameter wire.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Power Cable</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company produces a range of armored and unarmored low voltage power transmission cable.&nbsp; Low voltage power cable, generally considered to be cable with a capacity of 1 to 3.3 kilovolts, is typically used to transmit electricity to and within commercial and residential buildings, as well as to outdoor installations such as street lights, traffic signals and other signs.&nbsp; Armored low-voltage power cable is usually used for public lighting and power transmission running to buildings and installed either above or below ground.&nbsp; Unarmored </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">low voltage cable is mainly used as lighting and power supply cable inside and outside of buildings.&nbsp; The voltage capacity of the Company&#8217;s power cables range from 300 volts to one kilovolt.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Production of unarmored cable begins by drawing and annealing of copper rods.&nbsp; The drawn copper wires are then stranded or &#8220;bunched&#8221; into round or sector-shaped conductors in sizes ranging from 1.5 square millimeters to 1000 square millimeters.&nbsp; The copper conductors are then covered in an extrusion process with a plastic insulator such as PVC, after which 2-5 conductors are twisted into a circular cable core in a cabling process and covered by a plastic outer cover.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Unarmored cable is composed of one or more cores of copper wire, insulated by substances such as PVC.&nbsp; Armored cable is produced in the same manner and the same range of configurations as unarmored cable, but with the addition of an outer layer of galvanized steel or iron wires to protect the cable from damage.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Enameled Wire</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company also produces several varieties of enameled wire.&nbsp; Enameled wire is copper wire varnished, in an enameling process, by insulating materials.&nbsp; The enameling process makes the wire more resistant to oil, heat, friction and fusion, and therefore suitable for use in machinery and components and sub-components of manufactured goods.&nbsp; The Company manufactures enameled wire in sizes that range from 0.02 mm to 4.00 mm in diameter, varnished by various types of petroleum insulation materials including polyvinyl formal, polyurethane wire and polyester, among others.&nbsp; Enameled wire products are used in the assembly of a wide range of electrical products, including oil-filled transformers, refrigerator motors, telephones, radios, televisions, fan motors, air conditioner compressors and other electric appliances.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt">&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">26</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_31></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Electronic Wire</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Company produces electronic wire with its major production facilities in Ningbo, China. The electronic wire is predominately used for heat resistant applications in consumer electronics and in the automotive industry. The factory concluded production testing in 2013 and is currently locating potential buyers. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.3&nbsp;&nbsp;&nbsp;&nbsp; Raw Materials</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Copper is the principal raw material used by the Company for copper-based products.&nbsp; The Company purchases copper at prices based on the average prevailing international spot market prices on the LME for copper for the one month prior to purchase.&nbsp; The price of copper is influenced heavily by global supply and demand as well as speculative trading.&nbsp; As with other costs of production, changes in the price of copper may affect the Company&#8217;s cost of sales.&nbsp; Whether this has a material impact on the Company&#8217;s operating margins and financial results depends primarily on the Company&#8217;s ability to adjust selling prices to its customers, such that increases and decreases in the price of copper are reflected in those selling prices.&nbsp; Most sales of the Company&#8217;s Manufactured Products reflect copper prices prevailing at the time the products are ordered.&nbsp; A long-term decrease in the price of copper would require the Company to revalue the value of its inventory at periodic intervals to the then net realizable value, which could be below cost.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company purchases copper in the form of rods and cathodes.&nbsp; Copper cathodes are thin sheets of copper purified from copper ore.&nbsp; Copper purchased by the Company in the form of cathodes must be sent to subcontractors to be melted and cast into the copper rods necessary for the manufacturing processes, for a processing fee equal to approximately 3.5% (based on the Company&#8217;s past experience) of the copper cathode purchase price.&nbsp; The Company presently utilizes the services of Thai Metal Processing Co., Ltd. to process its copper cathodes into copper rods in Thailand, although the Company has a variety of processing companies from which it may obtain these services.&nbsp; Construction of a copper processing facility could also be an additional source of revenues and profit, to the extent that sales are made to unaffiliated parties.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp; However, the Company does not have any present plans to establish or acquire a copper processing facility.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> &nbsp;Copper </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">rods are drawn into copper wire for the production of telecommunications cable, power cable and enameled wire.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has historically purchased a substantial portion of its copper rods from PEWC.&nbsp; Under the Composite Services Agreement between the Company and PEWC, PEWC agreed to supply to the Company on a priority basis its copper rod requirements at prices at least as favorable as prices charged to other purchasers in the same markets purchasing similar quantities.&nbsp; PEWC continues to be a leading supplier of copper rods to the Company&#8217;s operations.&nbsp; Under the Company&#8217;s copper rod supply arrangements, orders are typically placed between eight to ten weeks before the desired delivery date, with prices &#8220;pegged&#8221; to the average spot price of copper on the LME for the one month prior to delivery plus a premium.</FONT></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company purchases both copper cathodes which are subjected to a 1.0% import tariff, and copper rods which normally are subject to a 5.0% import tariff for its Thailand operations. &nbsp;The key suppliers are Sterlite Industries (India) Ltd - India, PEWC-Taiwan, Prime Global Corp.-Korea, Lanexang Mineral Ltd.-Laos and the Mitsubishi Corporation Unimetal Ltd.-Japan, Mitsubishi Corporation-Japan, Glencore International AG.-Switzerland, and Marubeni Corporation-Japan. &nbsp;The Company has regularly signed one-year contracts with each of the copper suppliers, pursuant to which the Company agrees to purchase a set quantity of copper each month. &nbsp;Under the terms of such contracts, the price of copper is usually pegged to the monthly average of the spot price of copper on the LME for the delivery month (M-0), or 1 month before delivery month (M-1) plus a premium. &nbsp;The Company has almost two decades of good relationships with many copper suppliers, and currently believes that the copper suppliers will be capable of providing an adequate supply of copper for the Company&#8217;s requirements. &nbsp;The Company does not anticipate any change in relations with its copper suppliers in the near term.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">27</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_32></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company attempts to maintain approximately a three to five week supply of copper rods and cathodes for its Thai operations and approximately a two to four week supply in Singapore.&nbsp; In PEWS, the Company generally maintains one to two weeks of supply of copper rods and cathodes.&nbsp; In APEC, the copper supply is generally maintained at one to two weeks of anticipated requirements. &nbsp;In Epan Industries whose copper is purchased through PEWC Hong Kong, approximately three weeks of copper supply is maintained for manufacturing purposes.&nbsp; The Company has never experienced a material supply interruption or difficulty obtaining a sufficient supply of copper rod or cathode.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Other raw materials used by the Company include aluminum used as a conductor in power cable and petroleum-based insulation materials such as PE, PVC and jelly compounds for insulating covers on cables and varnishes on enameled wire; aluminum foils for sheathing of communication cable; and galvanized steel wire for the production of armored wire.&nbsp; The Company has not had any difficulty in maintaining adequate supplies of these raw materials and expects to continue to be able to purchase such raw materials at prevailing market prices.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Other than import tariffs in Thailand, the Company does not face any restriction or control on the purchase or import of its raw materials.&nbsp; The Company may freely choose its suppliers and negotiate the price and quantity of material with its suppliers.&nbsp; The Company formulates consumption plans for raw materials regularly and continually monitors market conditions in respect of the supply, price and quality of raw materials.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Inflation would increase the cost of raw materials and operating expenses for the Company.&nbsp; The Company would try to maintain its gross margins by increasing the prices of its products.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.4&nbsp;&nbsp;&nbsp;&nbsp; Quality Control</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company places a significant emphasis on product quality.&nbsp; The Company has implemented a range of quality control procedures with stringent quality standards under the supervision of dedicated quality control staff.&nbsp; Quality control procedures are implemented from the raw material to the finished product stages at </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">each of the Company&#8217;s major production facilities.&nbsp; Raw materials are inspected to ensure they meet the necessary level of quality before production begins.&nbsp; During the manufacturing process, quality control procedures are performed at several stages of production.&nbsp; Upon completion, finished goods are brought to quality control centers set up in the factory for inspection and testing of different electrical and physical properties.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Depending on the requirements of its customers, the Company has the capability to manufacture its products to meet a variety of different quality and production standards.&nbsp; These include local standards and certifications, such as the Singapore Institute of Standards and Industrial Research Quality Mark and the Thailand Industrial Standard, as well as other standards including the National Electrical Manufacturers Association Standard, the British Standard, the Japan Industrial Standard and Underwriters Laboratories Inc. Standard, as applicable.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">All the major companies in the APWC group have attained International Standards Organization (&#8220;ISO&#8221;) 9002 certification for quality management and assurance standards in the manufacture of electric wire and cable and have maintained that certification for at least the last ten years.&nbsp; The certifications mean that the companies have in place quality assurance systems and the capability to consistently manufacture products of quality.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">28</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_33></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.5&nbsp;&nbsp;&nbsp;&nbsp; Sales and Marketing</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s telecommunications cable and power cable products are primarily sold in the domestic markets of the countries where they are manufactured, whereas most of the enameled wire manufactured by the Company in Thailand is exported.&nbsp; Enameled wire sold by Epan Industries in Singapore is manufactured by PEWS in Shenzhen, China.&nbsp; The enameled wire is also exported to customers throughout Southeast Asia.&nbsp; The following table sets forth the Company&#8217;s sales revenues for the periods indicated in its three reporting segments &#8211; North Asia region, Thailand region and ROW Region for its three principal product lines, </FONT><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">i.e.</FONT></I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, Manufactured Products, Distributed Products, and SDI together with their respective percentage share of total sales for such periods.</FONT></P>
<DIV align=left>
<DIV align=left>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="56%" colSpan=5>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Years ended December 31,</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(figures in US$ are in thousands)</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" colSpan=2>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" colSpan=2>
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2012</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Regions:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">North Asia</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$117,658</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">25.5%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$123,964</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">26.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Thailand </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">175,347</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">38.1%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">188,629</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">40.8%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">ROW </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">167,671</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">36.4%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">149,672</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">32.4%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="36%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Total Net Sales</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$460,676</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">100.0%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="4%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">$462,265</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=bottom width="13%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">100.0%</FONT></P>
</TD></TR></TABLE></DIV>
<P></P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 24.5pt; MARGIN: 12pt 7.9pt 12pt 0cm"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our operating subsidiaries are also responsible for sales planning, marketing strategy and customer liaison.&nbsp; The Company&#8217;s sales staff is knowledgeable about the Company&#8217;s products and frequently must render technical assistance, consulting services and repair and maintenance services to the Company&#8217;s customers.&nbsp; In order to ensure quality service and maintain sensitivity to market conditions, the Company does not conduct sales through independent sales agents on a commission basis but uses its own sales employees located at the operating subsidiaries.</FONT></P>
</DIV>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As copper constitutes the most significant component of the Company&#8217;s wire and cable products, the price of the Company&#8217;s products depends primarily upon the price of copper.&nbsp; In order to minimize the impact of copper price fluctuations, the Company attempts to determine the prices of its products based on the </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">prevailing market price of copper.&nbsp; The Company may be affected, to a degree, in the short term by significant fluctuations in the price of copper.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Payment methods for the Company&#8217;s products vary with markets and customers.&nbsp; The majority of sales by the Company of its Manufactured Products requires payment within 90 days, but may vary depending on the customer and payment record.&nbsp; Sales pursuant to a successful project tender or sales to governmental or public utilities are conducted in accordance with the tender or other applicable regulations.&nbsp; In connection with the distribution of medium and high voltage power cable manufactured by PEWC, the Company is required to pay PEWC 90% of the cost of the products either within 30 days of receipt of the product or, in the case of SDI products, upon installation, with the remaining 10% in either case to be paid within one year.&nbsp; In connection with the purchase of copper rod, the Company is required to pay PEWC the cost of the copper rod within 30 days from obtaining the products from PEWC.&nbsp; For the export market, payment is usually made by prior delivery of an irrevocable letter of credit.&nbsp; Neither the Company nor its local subsidiaries offers financing for purchases of the Company&#8217;s products.&nbsp; Except for PEWC Hong Kong, the Company&#8217;s subsidiaries sell their products in the local currency of the country of sale.&nbsp; Company employees engaged in sales and marketing are paid a salary and may also receive a bonus based on performance.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Products are marketed under the respective names of each company.&nbsp; For instance, products manufactured by Siam Pacific are marketed under the &#8220;Siam Pacific&#8221;. &nbsp;Products manufactured by Sigma Cable are sold under the &#8220;Sigma Cable&#8221; brand.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">29</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_34></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Thailand</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company produces and sells telecommunication cable, enameled wire and power cable in Thailand. Charoong Thai is one of the leading cable manufacturers in Thailand.&nbsp; Our distribution channels include both direct sales to government entities and private sector participants in the infrastructure sector, and sales to agents for governmental entities.&nbsp; Sales within Thailand region are made directly by the sales department of the Company&#8217;s local subsidiaries in accordance with terms and pricing set by the local subsidiaries.&nbsp; The major customers of the Company include many prominent clients working with the government and its contractors (True Corporation Plc (&#8220;True&#8221;), TT&amp;T (&#8220;Triple T&#8221;), etc.), subcontractors, and distributors for the private sector.&nbsp; Charoong Thai has successfully participated in many major projects, which included, Suwannabhumi International Airport, Government Center, PTT Maptaput, and BRT (Bus Rapid Transit).</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">ROW</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company produces and sells low voltage power cable in Singapore and Australia.&nbsp; In addition, the Company sells a wide range of wire and cable products produced by PEWC.&nbsp; The Company also offers SDI project engineering services for medium and high voltage power cable to power transmission projects in Singapore.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In Singapore alone, sales of Manufactured Products in 2013 accounted </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">for </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">40</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">% of</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=red face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">the total net sales in Singapore; sales of Distributed Products in 2013 accounted for </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">44</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">%</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, the remaining </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">16</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">% representing SDI project engineering services. &nbsp;SP Power Assets Ltd. has historically been far and away the leading customer for the Company&#8217;s SDI services. Sales to the customer are under a comprehensive contract, with purchase orders placed from time to time with the Company by SP Power Assets Ltd.</FONT></P>
<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0cm"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">China</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company produces and sells copper-based telecommunication cable and enameled wire in China.&nbsp; The Company&#8217;s China operations are now conducted through six business entities; following the sale in early 2013 of the Company&#8217;s joint venture interest in SHP as described earlier.&nbsp; Copper-based telecommunication cables are generally sold to the national, providential or local offices of the fixed-line and mobile telecommunications network operators or sub-contractors of such agencies.&nbsp; The Company generally sells enameled wire directly to manufacturers of electric motors for use in various consumer appliances.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 1.1pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.6&nbsp;&nbsp;&nbsp;&nbsp; Competition</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The wire and cable industry in the Asia Pacific region is highly competitive.&nbsp; The Company&#8217;s competitors include a large number of independent domestic and foreign suppliers.&nbsp; Certain competitors in each of the Company&#8217;s markets have substantially greater manufacturing, sales, research and financial resources than the Company.&nbsp; The Company and other wire and cable producers increasingly compete on the basis of product quality and performance, reliability of supply, customer service and price.&nbsp; To the extent that one or more of the Company&#8217;s competitors is more successful with respect to the primary competitive factors, the Company&#8217;s business could be adversely affected.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Thailand</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The wire and cable industry in Thailand is highly competitive.&nbsp; In its various product lines, the Company competes with a total of approximately thirty local wire and cable manufacturers and, to a lesser extent, with foreign producers for sales in Thailand of telecommunications cable, power cable and enameled wire.&nbsp; The Company is one of the five largest producers in the Thai market.&nbsp; These five largest producers are the only producers of telecommunications cable approved by the Thai Industrial Standards Institute and, therefore, the only cable producers whose products may be used in government-commissioned projects.&nbsp; Stringent governmental approval processes, tariffs and other import restrictions have limited competition in the Thailand market from foreign wire and cable producers.&nbsp; The Company also experiences significant competition from a number of smaller producers with regard to sales of enameled wire products.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">30</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_35></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Singapore</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company believes that Sigma Cable is one of the major suppliers of power cable products in Singapore; however, it experiences significant competition from other local producers. &nbsp;There is no tariff or other barrier against foreign competition in the local Singapore market and potential competitors are free to enter the industry.&nbsp; However, because of high capital costs, the Company does not presently anticipate that it is likely there will be new domestic entrants to the wire and cable industry in Singapore in the near future.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Australia</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Currently, besides APEC, there are two major wire and cable producers in Australia:&nbsp; Olex Cables (owned by Nexans) and Prysmian Cables, with factories in the states of Victoria and New South Wales, respectively.&nbsp; Also, Advance Cable, a cable producer with a factory in Victoria, has recently obtained a bigger market share. In addition, a significant portion of the Australian market is serviced by two importers:&nbsp; (i)&nbsp;General Cables Australia, which imports cables from its parent company General Cables, which manufactures cables in New Zealand and (ii)&nbsp;Electra Cables, which imports cables from factories in China.&nbsp; These companies are APEC&#8217;s principal competitors.&nbsp; APEC however is the only power cable producer in Queensland and therefore seeks to take advantage of its comparative proximity to Queensland-based customers in contrast to competitors that are required to transport their products into Queensland from other states in Australia.&nbsp; APEC has also opened sales offices with warehousing facilities in Sydney, Melbourne, Brisbane, and Perth in order to attract and service the customers in those regions. &nbsp;APEC also has a distribution agreement with one of the regional suppliers with the goal of generating additional business for the Australia operations. &nbsp;Foreign competition barriers exist with import duties and the more stringent Australian cable specifications standards.&nbsp; Asean (Association of South East Asian Nations) Free Trade Area (AFTA) Agreements are in effect with Singapore and Thailand, among other Asian countries.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">China</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PEWS manufactures enameled wires in the Shenzhen Special Economic Zone in Guangdong Province for electronic, video and audio products for the South China market and for export.&nbsp; Epan Industries, one of the </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">subsidiaries of Sigma-Epan, is the trading arm of PEWS. &nbsp;It supplies mainly to overseas transformer, motor and coil manufacturers.&nbsp; It faces competition principally from overseas imports and local manufacturers.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Shanghai Yayang is the only major enameled wire producer in Shanghai and it supplies mainly to transformer, motor and coil manufacturers in the eastern part of China.&nbsp; It faces competition principally from overseas imports and manufacturers from other provinces in China.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.2.7&nbsp;&nbsp;&nbsp;&nbsp; Regional Considerations</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The principal Asian markets in which we do business have displayed exceptional overall economic growth in recent years compared to the United States and a number of other more developed markets, subject to occasional episodes of economic and currency exchange volatility attributable to various factors including the increased risks of emerging market investment, actual or potential political instability and occasional pandemics.&nbsp; In some countries, the International Monetary Fund (the &#8220;IMF&#8221;) exerts considerable influence over economic policy and provides support to stabilize the domestic economy.&nbsp; In general, the Asian markets in which we do business have been export-driven in recent years and have in the case of China and Singapore, for example, accumulated considerable capital reserves, which contributes to a more stable business environment.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">31</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_36></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Thailand Region</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">A substantial portion of the Company&#8217;s Thai operations, whose sales accounted for approximately 38% of the Company&#8217;s net sales in</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=red face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2013</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, consists of the manufacture of telecommunications and power cable and sales of those products for use in large-scale telecommunications projects and various construction projects in Thailand.&nbsp; The volume of sales of these products tends to correlate with the general level of economic activity in Thailand.&nbsp; As a result, the performance of the Company&#8217;s Thai operations depends in significant part on the general state of the Thai economy.&nbsp; Infrastructure development and related construction projects in Thailand depend significantly upon government sponsored initiatives.&nbsp; In recent years, the level of government involvement in infrastructure development has tended to track increases or contractions in Thailand&#8217;s gross domestic product (&#8220;GDP&#8221;).&nbsp; Overall, the construction industry and infrastructure projects have slowed considerably, thereby affecting local sales, placing competitive pressure on prices and prompting the Company to rationalize Thai operations and actively seek overseas export markets.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Telecommunications</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sales of the Company&#8217;s telecommunication products in Thailand have depended to a significant degree on the substantial investment in and development of the telecommunications sector by the Thai government.&nbsp; In particular, the Company&#8217;s sales of Manufactured Products are affected by the dollar value of contracts awarded by the government for telecommunications and other infrastructure projects.</FONT></P>
<P style="TEXT-INDENT: 19.8pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company produces and sells copper core telecommunications cable, enameled copper wire and enameled aluminum wire to the Thai market, and also exports enameled wire to overseas markets. Sales of telecommunications cable, one of the Company&#8217;s leading products in Thailand, are conducted either by tender for participation in large scale telecommunications projects of the Telephone Organization of Thailand Corporation Plc. (&#8220;TOT&#8221;), or by sales directly to subcontractors of Triple T and True, the two private telephone line contractors which would be licensed by TOT with regard to particular projects. &nbsp;The Company generally sells enameled wire directly to electrical appliance manufacturers or an OEM (original equipment manufacturers) for both the local and export market, and in smaller units that are sold to local dealers.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Power</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In Thailand, the prevailing historical trend has been that economic growth would stimulate rapid growth in the demand for electric power, and annual rates of growth in electricity demand would outpace annual </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">economic growth rates.&nbsp; Despite the rapid growth in electricity demand, electricity consumption in Thailand remains low by international standards.&nbsp; The Company believes that, in the medium to longer term, there will be an increased demand for power supply which will lead to increased demand for the Company&#8217;s power cable products from both developers of power production facilities and contractors installing power supply lines.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Singapore</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Company&#8217;s distribution and project engineering business segments are concentrated in the Singapore market.&nbsp; In 2013, the Company realized $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">18.6&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million in revenues from SDI projects, compared to $6.4 million in 2012.&nbsp; Revenue in Singapore from Distributed Products in 2013 was $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">49.3&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> million, compared to $41.9 million in 2012.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Singapore government has established targets to increase the population from 4.6 million in 2007 to approximately 6 million by the end of 2020.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp; This planned growth in population is expected to result in an increase in demand for residential property and construction. &nbsp;The Company continues to seek ways to increase its business volume in its project engineering business segment.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">32</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_37></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">China</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The economy of China differs from that of most developed free-market economies in a number of respects, including structure, degree of government involvement, level of development, growth rate, capital reinvestment, allocation of resources, rate of inflation and balance of payments position.&nbsp; In recent years, the PRC government has implemented economic reform measures which emphasize decentralization,</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> expansion of consumption in the domestic market,</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> utilization of market forces and the development of foreign investment projects of which Shanghai Yayang is an example.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 2.2pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.3 &nbsp;&nbsp;&nbsp; Organization Structure</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Please refer to Business Overview in section 4.2</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 2.2pt 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property, Plant and Equipment</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s Manufactured Products are produced at facilities located on premises owned or leased by Siam Pacific, Charoong Thai, Sigma Cable, APEC, Shanghai Yayang, PEWS and NPC.&nbsp; The following is a summary of the Company&#8217;s material facilities and operations as of December 31, 2013.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Siam Pacific owns a 7.45 acre production facility near Bangkok, Thailand, located on a 26.79 acre site that it also owns.&nbsp; Telecommunications cable and enameled wire are manufactured at this facility.&nbsp; The production facility constitutes a portion of certain property and assets which are pledged to a financial institution.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Charoong Thai owns a 24.7 acre production facility in Chachoengsao province, near Bangkok, Thailand, where telecommunications cable and power cable are manufactured.&nbsp; The production facility is located on a 57.9 acre site which Charoong Thai also owns.&nbsp; Neither the production facility nor the land is mortgaged.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sigma Cable produces power cable on a 19,373 square meter site in Singapore leased from the Jurong Town Corporation (&#8220;JTC&#8221;) for 30 years from September 16, 2000 to September 16, 2030.&nbsp; JTC is a government-linked corporation and is Singapore&#8217;s largest industrial landlord.&nbsp; Building assets, with a total loan value of $11.7 million are pledged to United Overseas Bank.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">APEC owns a 6,735 square meter power cable manufacturing facility on a 39,000 square meter land parcel in Brisbane, Australia. &nbsp;The land and building thereon are mortgaged to Westpac Banking Corporation of Australia as security for a bank facility of approximately A$10.0 million (equivalent to $9.24 million).</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Shanghai Yayang operates a factory that produces enameled wires, located in an area of approximately 27,839 square meters of state-owned land in an industrial district in Fengxian, Shanghai.&nbsp; Assets consisting of buildings with a value of approximately $1 million, which are pledged to the Agricultural Bank of China.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">PEWS manufactures enameled wire in a facility on 36,000 square meters of state-owned land with a built-up area of 20,367 square meters in Long Gang, Shenzhen, China.&nbsp; A leasehold right of industrial land use for the land has been granted for 49 years.&nbsp; The land and building valued at approximately $0.8 million is pledged to Agricultural Bank of China as security for a $7.9 million bank loan granted in 2003 and extended to the end of July 2014</FONT><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">.&nbsp;</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sigma-Epan leases an office space from Sigma Cable in Singapore where it employs nine individuals in its trading operations.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">NPC is situated in Ing-Chiang Township in Ningbo City in </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Zh&#232; Ji&#257;ng Province, China.&nbsp; NPC manufactures electronic wire in a facility that </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">occupies 44,000 total square meters, with a land use right expiring July, 2044. The factory and the land use right are pledged to the local financing institute for a RMB 46.6 million loan which terminates in November 2014.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">33</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_38></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">All of the Company&#8217;s facilities in Thailand, Singapore, Australia and China use production processes and equipment of international standard imported from Europe, the United States, Taiwan, and Japan.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The production capacity and extent of utilization of the Company&#8217;s facilities varies from time to time and such information is considered to be commercially sensitive and proprietary information.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company maintains insurance policies covering certain buildings, machinery and equipment against specified amounts of damage or loss caused by fire, flooding, other natural disasters and burglary and theft.&nbsp; The Company does not carry insurance for consequential loss arising from business interruptions or political disturbances and does not carry product liability insurance.&nbsp; In addition, the availability of insurance in China is limited, and the Company does not have business liability or disruption insurance for our operations in China.&nbsp; The Company believes that it maintains insurance coverage commensurate with the nature of and risks associated with its business, to the extent that appropriate insurance is available in the markets in which we conduct business.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Siam Pacific renewed its insurance policy in 2013 which covers fire and theft but does not provide coverage for flood damage or business interruption, as in Thailand insurance companies are generally unwilling to issue policies covering flood or business interruption. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental Matters</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is subject to a variety of laws and regulations covering the storage, handling, emission and discharge of materials into the environment.&nbsp; The Company believes that all of its operations are in compliance with, and in certain circumstances exceed, all applicable environmental laws and regulations.&nbsp; The Company has not been subject to any legal, regulatory or other action alleging violations or breaches of environmental standards.&nbsp; While it is difficult to accurately estimate future environmental compliance costs and potential liabilities, if any, the Company does not currently anticipate any material adverse effect on its consolidated results of operations, financial position or cash flows as a result of compliance with these laws.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 4A:&nbsp;&nbsp;&nbsp;&nbsp; Unresolved Staff Comments</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">(Not applicable)</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">34</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_39></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 5:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating and Financial Review and Prospects</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following discussion should be read in conjunction with the information contained in our audited consolidated financial statements and notes thereto (the &#8220;Financial Statements&#8221;) presented in Item 18 of this Annual Report.</FONT></P>
<P style="TEXT-INDENT: 24.5pt; MARGIN: 0in 0in 12pt; BACKGROUND: white"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our consolidated financial statements have been prepared in accordance with IFRS as issued by the </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">IASB</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, which differ in certain aspects from U.S. GAAP.</FONT></P>
<P style="TEXT-INDENT: 24.5pt; MARGIN: 0in 0in 12pt; BACKGROUND: white"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In accordance with IFRS 1, we have presented comparative consolidated financial statements as of and for the year ended December&nbsp;31, 2012 and as of January&nbsp;1, 2012 in accordance with IFRS. The impact of the transition to IFRS from consolidated financial statements previously prepared in accordance with U.S. GAAP on our consolidated equity as of January&nbsp;1, 2012 and December&nbsp;31, 2012 and our net profit for the year ended December&nbsp;31, 2012, is detailed in note 4&nbsp;to our consolidated financial statements included elsewhere in this Annual Report.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Since these are our first consolidated financial statements prepared in accordance with IFRS, under the accommodation provided by the SEC in respect of first-time application of IFRS, the following discussion and analysis is limited to our financial condition and results of operations for the years ended December&nbsp;31, 2013 and 2012, and no comparative information for the year ended December&nbsp;31, 2011 has been included.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosures of Critical Accounting Policies</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT></P>
<P></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><STRONG></STRONG>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">35</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<P>&nbsp;
<A name=page_40></A></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 22.3pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fair Value Measurement</FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company measures financial instruments at fair value at each balance sheet date. In addition, fair values of financial instruments measured at amortized cost are disclosed in Note 18.4.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.&nbsp; The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</FONT></P>
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the principal market for the asset or liability, or</FONT></P>
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the absence of a principal market, in the most advantageous market for the asset or liability.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">principal&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> or the most advantageous market must be accessible to the Company.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The fair value of an asset or a liability is measured using the assumptions that market participants would use when </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">pricing&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> the asset or liability, assuming that market participants act in their economic best interest.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A fair value measurement of a non-financial asset takes into account a market participant's ability to generate </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">economic&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">available&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">within&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</FONT></P>
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities</FONT></P>
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable</FONT></P>
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">whether&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> transfers have occurred between Levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 22.3pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Cash and Cash Equivalents</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Cash and cash </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">equivalents&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> in the consolidated balance sheet are comprised of cash at banks and highly liquid investments with purchased maturities of three months or less.&nbsp; These investments are stated at cost plus accrued interest, which is similar to their market value.</FONT></P>
<P><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center">36</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_41></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0cm 0cm 0pt 21.3pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For the </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">purpose&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> of the consolidated statements of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts, if applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 22.3pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Inventories</FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Inventories are </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">stated&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> at the lower of cost and net realizable value.&nbsp; Cost is determined on the weighted average basis and, in the case of work in progress and finished goods, comprises direct materials, direct labor and an appropriate proportion of overheads.&nbsp; Net realizable value is based on estimated selling prices less any estimated costs to be incurred to completion and the estimated cost necessary to make the sale.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 22.3pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Property, Plant and Equipment</FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Property, plant and equipment is stated at cost, net of accumulated depreciation and any accumulated impairment losses. Such cost includes the cost of replacing part of the property, plant and equipment and borrowing costs </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">for&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> long-term construction projects if the recognition criteria are met.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Any expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">maintenance</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, is normally charged to profit or loss in the period in which it is incurred.&nbsp; In situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalized in the carrying amount of the asset as a replacement. When significant parts of property, plant and equipment are required to be replaced at intervals, the Company recognizes such parts as individual assets with specific useful lives and depreciates them accordingly.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Spare parts and servicing equipment are usually carried as inventory and recognized in profit or loss as consumed. However, major spare parts and stand-by equipment qualify as property, plant and equipment when an entity expects to use them more than one year.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">respective&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> asset if the recognition criteria for a provision are met.&nbsp; A provision shall be recognized when:</FONT></P>
<P style="TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 12pt 68.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(a)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">an entity has a present obligation (legal or constructive) as a result of a past event;</FONT></P>
<P style="TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 12pt 68.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(b)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and </FONT></P>
<P style="TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 12pt 68.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(c)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">a reliable estimate can be made of the amount of the obligation. </FONT></P>
<P style="MARGIN: 0in 0in 12pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If these conditions are not met, no provision shall be recognized.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Depreciation</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Depreciation</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> is calculated on a straight-line basis over the estimated useful lives of the assets as follows:</FONT></P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 256.849pt; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 51.05pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">Buildings&nbsp;</FONT></P>
</TD>
     <TD vAlign=top width="32%">
<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">20-30 years</FONT></P>
</TD></TR>
<TR>
     <TD vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">Building improvement</FONT></P>
</TD>
     <TD vAlign=top width="32%">
<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">5-20 years</FONT></P>
</TD></TR>
<TR>
     <TD vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">Machinery and equipment </FONT></P>
</TD>
     <TD vAlign=top width="32%">
<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">5-15 years</FONT></P>
</TD></TR>
<TR>
     <TD vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">Motor vehicles</FONT></P>
</TD>
     <TD vAlign=top width="32%">
<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">3-10 years</FONT></P>
</TD></TR>
<TR>
     <TD vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">Office equipment</FONT></P>
</TD>
     <TD vAlign=top width="32%">
<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" color=black face="Times New Roman">3-10 years</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0cm 0cm 0pt 21.3pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">37</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_42></A>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0in; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">when&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> no future economic benefits are expected from its use or disposal.&nbsp; Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when the asset is derecognized.</FONT></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The assets&#8217; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">residual&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> values (presumably nil), useful lives and methods of depreciation are reviewed at each financial year end, and adjusted prospectively, if appropriate</FONT></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Impairment</FONT></I></B></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If circumstances arise which indicate assets might be impaired, a review should be undertaken of their cash generating abilities through either use or sales.&nbsp; This review will produce an amount, which should be compared with </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">the&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> asset&#8217;s carrying value, and if the carrying value is higher, the difference must be written off as an impairment adjustment in the income statement.&nbsp; Further detailed methodology used for an impairment test is given in Note 3.11 (iv) - Impairment of non-financial assets.</FONT></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"></P>
<P></P>
<P style="MARGIN: 0in 0in 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%">&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%">&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%" align=center>38</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<P>&nbsp;</P>

&nbsp;
<A name=page_44></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 0.6in"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 22.5pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial Instruments </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -31.5pt; MARGIN: 0in 0in 12pt 0.75in"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(i)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial assets </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Initial recognition and measurement</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial assets within the scope of IAS 39 are classified as financial assets at fair value through profit or loss, loans and </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">receivables</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.&nbsp; The Company determines the classification of its financial assets at initial recognition.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">All financial assets are recognized initially at fair value plus transaction costs, except in the case of financial assets recorded at fair value through profit or loss.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">convention&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> in the market place (regular way trades) are recognized on the trade date, </FONT><I><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">i.e.</FONT></I><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, the date that the Company commits to purchase or sell the asset.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Subsequent measurement</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The subsequent </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">measurement&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> of financial assets depends on their classification as described below:</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial assets at fair value through profit or loss</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">upon&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> initial recognition at fair value through profit or loss.&nbsp; Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. </FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value presented as finance costs (negative net changes in fair value) or finance income (positive net changes in fair value) in the income statement.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Derivatives not designated as hedging instruments</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A derivative is a financial instrument or other contract within the scope of IAS 39 with all of the following </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">characteristics</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">:&nbsp;</FONT></P>
<P style="TEXT-INDENT: -17pt; MARGIN: 0in 0in 12pt 68.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(a)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, a credit rating or credit index, or other variable, provided in the case of a non-financial variable that the variable is not specific to a party to the contract (sometimes called the 'underlying'); </FONT></P>
<P style="TEXT-INDENT: -17pt; MARGIN: 0in 0in 12pt 68.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(b)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">it requires no initial net investment, or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; and </FONT></P>
<P style="TEXT-INDENT: -17pt; MARGIN: 0in 0in 12pt 68.05pt">(c) <FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">it is settled at a future date.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">39</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_45></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fair value is the measurement basis for all financial instruments meeting the definition of a derivative.&nbsp; Change in fair value of non-hedged item is recorded in profit and loss. </FONT></FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Loans and receivables</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Loans and </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">receivables&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.&nbsp; After initial measurement, such financial assets are subsequently measured at amortized cost using the effective interest rate (EIR) method, less impairment.&nbsp; Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR.&nbsp; The EIR amortization is included in finance income in the income statement.&nbsp; The losses arising from impairment are recognized in the other operating expenses for receivables.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Held-to-maturity investments</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Non-derivative financial assets with fixed or determinable payments and fixed maturities are classified as held to maturity when the Company has the positive intention and ability to hold them to maturity.&nbsp; After initial measurement, held to maturity investments are measured at amortized cost using the EIR, less impairment.&nbsp; Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR.&nbsp; The EIR amortization is included as finance income or finance cost in the income statement. The losses arising from impairment are recognized in the income statement in finance costs.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Available-for-sale financial investments</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Available-for-sale financial investments include equity investments and debt securities.&nbsp; Equity investments classified as available for sale are those that are neither classified as held for trading nor designated at fair value through profit or loss.&nbsp; Debt securities in this category are those that are intended to be held for an indefinite </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">period&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> of time and that may be sold in response to needs for liquidity or in response to changes in the market conditions.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">After initial measurement, available-for-sale financial investments are subsequently measured at fair value with </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">unrealized&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> gains or losses recognized as other comprehensive income in the available-for-sale reserve until the investment is derecognized, at which time the cumulative gain or loss is recognized in other operating income, or the investment is determined to be impaired, when the cumulative loss is reclassified from the available-for- sale reserve to the income statement in finance costs. Interest earned whilst holding available-for-sale financial investments is reported as&nbsp;finance income using the EIR method.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For a financial </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">asset&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> reclassified out of from the available-for-sale category, the fair value carrying amount at the date of reclassification becomes its new amortized cost and any previous gain or loss on the asset that has</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">40</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_46></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0cm 0cm 0pt 21.3pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT></I>&nbsp;</P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">been recognized in equity is amortized to profit or loss over the remaining life of the investment using the EIR.&nbsp; Any difference between the new amortized cost and the maturity amount is also amortized over the remaining life of the asset using the EIR. If the asset is subsequently determined to be impaired, then the amount recorded in equity is reclassified to the income statement.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Derecognition</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">derecognized&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> when:</FONT></P>
<P style="TEXT-INDENT: -26.15pt; MARGIN: 0in 0in 12pt 77.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The rights to receive cash flows from the asset have expired</FONT></P>
<P style="TEXT-INDENT: -26.15pt; MARGIN: 0in 0in 12pt 77.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a &#8216;pass-through&#8217; arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership.&nbsp; When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the asset is recognized to the extent of the Company&#8217;s continuing involvement in the asset.&nbsp; In that case, the Company also recognizes an associated liability.&nbsp; The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.</FONT></P>
<P style="LINE-HEIGHT: 115%; TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(ii)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Impairment of financial assets </FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company assesses, at each reporting date, whether there is objective evidence that a financial asset or a&nbsp;group of financial assets is impaired.&nbsp; A financial asset or a&nbsp;group of financial assets is deemed to be impaired if there is objective evidence of impairment as a result of one or more events that has occurred since the initial recognition of the asset (an incurred &#8216;loss event&#8217;) and that loss event has an impact on the estimated future cash flows of the financial asset or the&nbsp;group of financial assets that can be reliably estimated.&nbsp; Evidence of </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">impairment&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> may include indications that the debtors or a&nbsp;group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization and observable data indicating that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial assets carried at amortized cost</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For financial assets carried at amortized cost, the Company first assesses whether objective evidence of impairment </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">exists&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant.&nbsp; If the Company determines that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a&nbsp;group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be, recognized are not included in a collective assessment of impairment.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">41</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_47></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0cm 0cm 0pt 21.3pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If there is objective evidence that an impairment loss has been incurred, the amount of the loss is measured as the difference between the asset&#8217;s carrying amount and the present value of estimated future cash flows (excluding future </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">expected&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> credit losses that have not yet been incurred).&nbsp; The present value of the estimated future cash flows is discounted at the financial asset&#8217;s original effective interest rate.&nbsp; If a loan has a variable interest rate, the discount rate for measuring any impairment loss is the current EIR.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The carrying amount of the asset is reduced through the use of an allowance account and the loss is recognized in profit or loss. Interest income continues to be accrued on the reduced carrying amount and is accrued using the </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">rate&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> of interest used to discount the future cash flows for the purpose of measuring the impairment loss.&nbsp; The interest income is recorded as finance income in the income statement.&nbsp; Loans together with the associated allowance are written off when there is no realistic prospect of future recovery and all collateral has been realized or has been transferred to the Company.&nbsp; If, in a subsequent year, the amount of the estimated impairment loss increases or decreases because of an event occurring after the impairment was recognized, the previously recognized impairment loss is increased or reduced by adjusting the allowance account. If a write-off is later recovered, the recovery is credited to finance costs in the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Trade&nbsp;Receivables Impairment</FONT></I></B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">:&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For a trade receivable, impairment assessment is performed on an individual basis: </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A financial asset is impaired (and impairment losses are determined) if, and only if, there is objective evidence of </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">impairment&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> as a result of one or more events that occurred after initial recognition (a 'loss event') and that loss event (or events) has an impact on the estimated future cash flows of the financial asset that can be reliably estimated.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Objective </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">evidence&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> that a financial asset or&nbsp;group of assets is impaired includes observable data that comes to the attention of the holder about the following loss events: </FONT></P>
<P style="TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 12pt 75.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">significant financial difficulty of the issuer or obligor; </FONT></P>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 12pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">breach of contract, such as a default or delinquency in interest or principal payments; </FONT></P>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 12pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">the lender, for economic or legal reasons relating to the borrower's financial difficulty, granting to the borrower a concession that would not otherwise be considered; </FONT></P>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 12pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">it becoming probable that the borrower will enter bankruptcy or other financial reorganization; </FONT></P>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 12pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">the disappearance of an active market for that asset because of financial difficulties (but not simply because the asset is no longer publicly traded ; or </FONT></P>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 12pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">observable data indicating that there is a measurable decrease in the estimated future cash flows from a Company of financial assets since initial recognition, although the decrease cannot yet be identified with the individual assets in the Company, including: </FONT></P>
<P style="LINE-HEIGHT: 115%; TEXT-INDENT: 25pt; MARGIN: 0in 0in 12pt 50pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=wingdings>l</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">adverse changes in the payment status of borrowers in the Company (</FONT><I><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">e.g.&nbsp;</FONT></I><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">an increased number of delayed payments); or </FONT></P>
<P style="LINE-HEIGHT: 115%; TEXT-INDENT: 25pt; MARGIN: 0in 0in 12pt 50pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=wingdings>l</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;national or local economic conditions that correlate with defaults on the assets in the Company.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">42</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_48></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For trade receivables that have been individually assessed, but for which there is no objective evidence of impairment, the review for impairment is performed on a group basis, based on similar credit risk characteristics.&nbsp; The impairment for Company level provision should be reviewed and updated quarterly.</FONT></FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Available for sale financial investments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For available-for-sale financial investments, the Company assesses at each reporting date whether there is objective evidence that an investment or a&nbsp;group of investments is impaired.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the case of equity investments classified as available-for-sale, objective evidence would include a significant </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">or&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> prolonged decline in the fair value of the investment below its cost. &#8216;Significant&#8217; is evaluated against the original cost of the investment and &#8216;prolonged&#8217; against the period in which the fair value has been below its original cost.&nbsp; The Company's policy considers a significant decline to be one in which the fair value is below the weighted average original cost by more than 20%.&nbsp; A prolonged decline is considered to be one in which the fair value is below the weighted average original cost for a period of more than 12 months.&nbsp; When there is evidence of impairment, the cumulative loss &#8211; measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that investment previously recognized in the income statement &#8211; is removed from other comprehensive income and recognized in the income statement.&nbsp; Impairment losses on equity investments are not reversed through profit or loss; increases in their fair value after impairment are recognized directly in other comprehensive income.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the case of debt instruments classified as available for sale, impairment is assessed based on the same criteria as </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">financial&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> assets carried at amortized cost.&nbsp; However, the amount recorded for impairment is the cumulative loss measured as the difference between the amortized cost and the current fair value, less any impairment loss on that investment previously recognized in the income statement.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Future interest income continues to be accrued based on the reduced carrying amount of the asset, using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss.&nbsp; The interest income </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">is&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> recorded as part of finance income.&nbsp; If, in a subsequent year, the fair value of a debt instrument increases and the increase can be objectively related to an event occurring after the impairment loss was recognized in the income statement, the impairment loss is reversed through the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial liabilities initial recognition and measurement</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">liabilities&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> within the scope of IAS 39 are classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.&nbsp; The Company determines the classification of its financial liabilities at initial recognition.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">All </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">financial&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> liabilities are recognized initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s financial liabilities include trade and other payables, bank overdrafts and interest bearing loans and borrowings.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Subsequent measurement</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">measurement&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> of financial liabilities depends on their classification as described below:</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">43</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_49></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Loans and borrowings</FONT></I></B> </P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">After initial </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">recognition</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, interest bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process.</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR.&nbsp; The EIR amortization is included as finance costs in the income </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">statement</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Derecognition</FONT></I></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A financial liability is derecognized when the obligation under the liability is discharged or cancelled, or expires.&nbsp; When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability.&nbsp; The difference in the respective carrying amounts is recognized in the income statement.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">44</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_50"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0cm 0cm 0pt 21.3pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 42.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></P><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Impairment of non-financial assets</FONT></B>

<P></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired.&nbsp; If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset&#8217;s recoverable amount. An asset&#8217;s recoverable amount is the higher of an asset&#8217;s or cash-generating unit&#8217;s (CGU) fair value less costs to sell and its value in use.&nbsp; A cash generating unit (CGU) is the smallest group of assets that </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">generates&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> cash inflows that are largely independent of the cash flows from other assets or groups of assets. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or&nbsp;group of assets.&nbsp; When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">reflects&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> current market assessments of the time value of money and the risks specific to the asset.&nbsp; In determining fair value less costs to sell, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used.&nbsp; These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Company&#8217;s CGUs to which the individual assets are allocated.&nbsp; These budgets and </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">forecast&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> calculations generally cover a period of five years.&nbsp; For longer periods, a long-term growth rate is calculated and applied to project future cash flows after the fifth year.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Impairment losses of continuing operations, including impairment on inventories, are recognized in the income statement in expense categories consistent with the function of the impaired asset.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">previously&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> recognized impairment losses no longer exist or have decreased.&nbsp; If such indication exists, the Company estimates the asset&#8217;s or CGU&#8217;s recoverable amount.&nbsp; A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset&#8217;s recoverable amount since the last impairment loss was recognized.&nbsp; The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the income statement.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">45</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_51"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0cm 0cm 0pt 21.3pt">&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 0.6in"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxes</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Current income tax</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities.&nbsp; The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in the countries where the Company operates and </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">generates&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> taxable income.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Current income tax relating to items recognized directly in equity is recognized in equity and not in the income statement.&nbsp; Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Deferred tax</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Deferred tax </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">is&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Deferred tax liabilities are recognized for all taxable temporary differences, except:</FONT></P>

<P style="TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 12pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp; When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or</FONT></P>

<P style="TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 12pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp; In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses.&nbsp; Deferred tax assets are recognized to the extent that it is probable that taxable profit </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">will&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except:</FONT></P>

<P style="TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 12pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp; When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or</FONT></P>

<P style="TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 12pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp; In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The carrying amount of </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">deferred&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized.&nbsp; Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">46</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_52"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss.&nbsp; Deferred tax items are recognized in correlation to the underlying transaction either in other comprehensive income or directly in equity.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Deferred tax </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">assets&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">authority</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Uncertain tax position</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">An entity&#8217;s tax position might be uncertain; for example, where the tax treatment of an item of expense or structured </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">transaction may be challenged by the tax authorities. </FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Local management should consider each uncertain tax positions individually, by first consider whether each position taken in the tax return is probable of being sustained on examination by the taxing authority.&nbsp; It should recognize a liability for each item that is not probable of being sustained.&nbsp; The liability then is measured using a</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> single best estimate of the most likely outcome.&nbsp; The uncertain tax positions are presented in the current tax liability is the total liability for uncertain tax positions. </FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s policy is to recognize interest expense and penalties related to income tax matters as a component of </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">income&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> tax expense. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 22.3pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Revenue recognition</FONT></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made.&nbsp; Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">payment&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> and excluding taxes or duty.&nbsp; The Company assesses its revenue arrangements against specific criteria to determine if it is acting as principal or agent.&nbsp; The specific recognition criteria described below must also be met before revenue is recognized.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Sale of manufactured goods and distributed products</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Revenue from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">passed&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> to the buyer, usually on delivery of the goods.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Supply, Delivery and Installation ("SDI")</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s supply, delivery and installation services are considered as multiple elements arrangements&nbsp;in accordance with IAS 18.&nbsp;&nbsp;The sale of cables and the installation service are </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">considered</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> as&nbsp;one single arrangement. </FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Revenue of SDI is accounted for using the percentage-of-completion method, based on the customer certification of the distance of cable laid with respect to the estimated total contract revenue, and in accordance </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">with&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> IAS 11.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">47</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_53"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0cm 0cm 0pt 21.3pt">&nbsp;</P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">When the current estimates of total contract revenue and contract cost indicate a loss, a provision for the entire loss on </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">the&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> contract shall be made.&nbsp; The recognition of provision for losses shall be in the period in which they become evident.&nbsp; On a quarterly basis,&nbsp;the Company&nbsp;should review the budget and forecast whether a loss provision should be recorded.</FONT><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> &nbsp;</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Onerous operating </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">contracts&nbsp;</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Onerous contract </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">is&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> a type of contract in which the costs of meeting the obligations under the contract are higher than the economic benefits received under the contract.</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> &nbsp;</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has contracts to supply products that cost more to produce than originally determined in the contracts due to a rise in raw material costs.&nbsp; The Company established the unavoidable costs of meeting the obligations under the contract as a liability for the contractual responsibilities.&nbsp; The liability has been calculated based on the difference between the copper price on the&nbsp;LME at reporting date and the prices determined in the contracts.&nbsp; As of December 31,2013, 2012 and January 1,2012 the amount of onerous contracts was $125, $291 and $72, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Bill and hold transaction</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For a 'bill and hold' sales transaction, where delivery is delayed at the buyer's request, but the buyer takes title and accepts </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">billing</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, the Company&#8217;s policy is not to recognize revenue until the delivery is made.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Rebates</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Based on IAS 18, the amount of revenue arising on a transaction is usually determined by agreement between the entity and the buyer or user of the asset.&nbsp; It is measured at the fair value of the consideration received or receivable taking into account the amount of any trade discounts and volume rebates allowed by the entity.&nbsp; Consequently, where an entity provides sales incentives to a customer when entering into a contract these are usually treated as rebates and will be included in the measurement of (</FONT><I><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">i.e.,&nbsp;</FONT></I><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> deducted from) revenue when the goods are delivered or services provided.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Provisions for </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">rebates&nbsp;</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> based on attainment of sales targets are estimated and accrued as each of the underlying sales transactions is recognized.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Provision for rebate should only be recorded when there is a contractually formal signed rebate contract </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">exists</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">. &nbsp;</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">At interim dates, if no reliable estimate can be made, the revenue recognized on the transaction should not exceed the consideration that would be received if the maximum rebates were taken.&nbsp; Therefore, the local management should assume that the customers will achieve the necessary sales volume target to earn the maximum </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">rebate</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp; The provisions are subject to continuous review and adjustment as appropriate based on the most recent information available to management.</FONT></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As of the balance sheet date, local management should recalculate and adjust the provision for rebate based on the actual sales.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Interest income</FONT></I></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For all financial instruments measured at amortized cost and interest bearing financial assets classified as available for sale, interest income is recorded using the effective interest rate (EIR).&nbsp; EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial </FONT></P></DIV>

<P style="TEXT-ALIGN: center">48</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_54"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the income statement.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Rental income</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Rental income arising from operating leases on investment properties is accounted for on a straight-line basis over the lease terms and is included in revenue due to its operating nature.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 51.1pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Dividends</FONT></I></B></P>

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Revenue is recognized when the company&#8217;s right to receive the payment is established, which is generally when shareholders approve the dividend.</FONT></P></DIV>

<P style="TEXT-ALIGN: center">49</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>



<P>&nbsp;</P>



<P>&nbsp;</P>



<P>&nbsp;</P>



<P>&nbsp;</P>

&nbsp; <A name="page_59"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></P><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selected Gross Margin Data</FONT></B>

<P></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">This discussion should be read in conjunction with the information contained in our Consolidated Financial Statements presented in Item 18 of this Annual Report.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Results are analyzed and reported along the lines of our three principal business segments, consisting of the North Asia Region, the Thailand Region, and the ROW Region.&nbsp; For the benefit of our shareholders, included in the summary table below are certain results for product lines within our 3 business segments with regard to net sales, gross profit and gross profit margin for the periods covered.&nbsp; The following table sets forth selected summary data for the periods indicated (dollar ($) amounts in thousands of US$).</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=top width="30%" colSpan=2>

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">For the year ended Dec 31,</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 14.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">2013</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">2012</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" width="30%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">(in thousands except for percentage)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Net Sales:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">North Asia region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 117,658</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 123,964</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Thailand region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">175,347</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">188,629</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">ROW region</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">167,671</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">149,672</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Total </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 460,676</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 462,265</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Gross profit:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">North Asia region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 4,807</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 6,802</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Thailand region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">26,605</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">25,063</FONT></P></TD></TR>

<TR style="HEIGHT: 14.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">ROW region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">20,404</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 14.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">18,614</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.35pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Total gross profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 51,816</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">$ 50,479</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Gross profit margin:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">North Asia region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">4.09%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">5.49%</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Thailand region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">15.17%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">13.29%</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">ROW region</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">12.17%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">12.44%</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">Total gross profit margin </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">11.25%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">10.92%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center">50</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_60"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 12pt 0in"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating Results</FONT></B></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is 65.6% owned and controlled by PEWC, a Taiwanese company.&nbsp; An additional 9.8% of the Common Shares are owned and controlled by a U.S.-based private equity fund.&nbsp; The remaining 24.6% of the outstanding Common Shares are publicly-traded in the United States and listed on NASDAQ.&nbsp; Based upon a review of Schedule 13D and 13G filings made with the Commission by shareholders, and a review of the share register maintained by the Company&#8217;s transfer agents in Bermuda and the U.S., the Company is not aware that it has any shareholders resident in the jurisdictions where the Company has business operations.&nbsp; While the Company&#8217;s operations and results are impacted by economic, fiscal, monetary and political policies of the respective governments in the countries where the Company operates, that impact is not a function of the shareholder base of the Company.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.3.1&nbsp;&nbsp;&nbsp;&nbsp; Year Ended December 31, 2013 Compared with Year Ended December 31, 2012</FONT></B></P>

<DIV align=center>

<DIV align=center>

<DIV align=center>

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



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

   <TD vAlign=bottom width="52%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">For the Years Ended December 31,</FONT></B></P></TD>

   <TD vAlign=top rowSpan=2 width="12%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Changes in $</FONT></B></P></TD>

   <TD vAlign=top rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Changes in %</FONT></B></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">2012</FONT></B></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=top width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">(in thousands)</FONT></B></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Income Statement Data:</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Net sales</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$ 460,676</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$ 462,265</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(1,589)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-0.34%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Costs of sales</FONT></P></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(408,860)</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(411,786)</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">2,926</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-0.71%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Gross profit</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">51,816</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">50,479</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,337</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">2.65%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Other operating income</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">181</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">5,825</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(5,644)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-96.89%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Selling general &amp; administrative expenses</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(34,559)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(34,593)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(34)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-0.10%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Other operating expenses</FONT></P></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(196)</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(888)</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(692)</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-77.93%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Operating (loss) profit</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">17,242</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">20,823</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(3,581)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-17.20%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Finance cost</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(1,734)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(2,195)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(461)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-21.00%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Finance income</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,306</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,322</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(16)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-1.21%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Share of profit (loss) of an associate</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(211)</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(21)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">190</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">904.76%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Gain on disposal of investment</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">232</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#8212;</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">232</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#8212;</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Gain on liquidation of subsidiaries</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#8212;</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">279</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(279)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-100.00%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Exchange gain (loss) </FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(1,245)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">2,411</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(3,656)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-151.64%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Other income</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,454</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,933</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(479)</FONT></P></TD>

   <TD vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-24.78%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Other expenses</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(260)</FONT></P></DIV></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#8212;</FONT></P></DIV></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">260</FONT></P></DIV></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#8212;</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Income from continuing operations before income taxes</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">16,784</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">24,552</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(7,768)</FONT></P></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-31.64%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Income taxes Expenses</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(5,518)</FONT></P></DIV></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(7,578)</FONT></P></DIV></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(2,060)</FONT></P></DIV></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-27.18%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Net (loss) income </FONT></P></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,266</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16,974</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(5,708)</FONT></P></DIV></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-33.63%</FONT></P></TD></TR>

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

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Net (loss) income attributable to non-controlling interests</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">5,419</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">7,280</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(1,861)</FONT></P></TD>

   <TD style="BACKGROUND: #cceeff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-25.56%</FONT></P></TD></TR>

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

   <TD vAlign=bottom width="52%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Net (loss) income attributable to APWC</FONT></P></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">5,847</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">9,694</FONT></P></DIV></TD>

   <TD vAlign=top width="12%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(3,847)</FONT></P></DIV></TD>

   <TD vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-39.68%</FONT></P></TD></TR></TABLE></DIV>

<P></P></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center">51</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_61"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 12pt 0in"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">General</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Results of operations are determined primarily by market demand and government infrastructure projects, market selling prices of our products, our ability to manufacture high quality products efficiently in quantities sufficient to meet demand and to control production and operating costs. Our results are also influenced by a number of factors, including currency stability in the countries in which o ur operations are located, competition and the cost of raw materials, especially copper, which accounted for majority of the cost of sales in 2013 and 2012.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">In order to minimize the impact of copper price fluctuations, we attempt to &#8220;peg&#8221; the prices of our products to the prevailing market price of copper and pass changes in the cost of copper through to customers as much as possible.&nbsp; In certain circumstances, however, we remain affected by fluctuations in the price of copper.&nbsp; A recent rise or decline in copper prices may not be fully reflected under this pricing scheme for several months.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Average copper prices per metric ton decreased by 7.8% from $7,950 in 2012 to $7,326 in 2013 (four quarters average). </FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Copper prices indicated in this report are quoted from the LME index.&nbsp; The 2013 and 2012 copper prices are as follows:</FONT></P>

<DIV align=right>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Average LME copper price ($/Ton)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">1Q</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,928</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">8,308</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">2Q</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,146</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,867</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">3Q</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,079</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,717</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">4Q</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,153</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,909</FONT></P></TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,326</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">7,950</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 39.6pt; MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=center>&nbsp;</DIV></DIV>

<P style="TEXT-ALIGN: center">52</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_62"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=center></DIV>

<P style="TEXT-INDENT: 39.6pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0in"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The average copper price in March 2014 on the LME was $6,668 per metric ton.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Net Sales</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Total sales in the North Asia region decreased by $6.3 million, or 5.1%, from $124.0 million in 2012 to $117.7 million in 2013.&nbsp; The decrease of sales in this region was primarily caused by the decrease of copper price, which adversely impacted customer demand.&nbsp; In addition, our sales were also affected by the weakest reported economy growth in China in 2013 since 1999.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Revenue from the Thailand region decreased by $13.3 million from $188.6 million in 2012 to $175.3 million in 2013, or 7.0%.&nbsp; The decrease was primarily attributable to the fact that the volatile political situation adversely impacted the level of infrastructure investment and customer demand for our products.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Revenue increased by $18.0 million, or 12.0%, from $149.7 million in 2012 to $167.7 million in 2013 in the ROW region.&nbsp; The increase in sales was mainly due to the increase in realized revenue of $18.6 million from SDI projects, compared to $6.4 million in 2012 in our Singapore subsidiary.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Gross Profit</FONT></I></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Gross profit for 2013 was $51.8 million, representing an increase of $1.3 million, or 2.7% up compared to $50.5 million in 2012.&nbsp; The increase was primarily attributable to the higher margin on power cables in the Thailand region, despite the margin erosion on enameled wires.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The gross profit margin of the North Asia region was down from 5.49% in 2012 to 4.09% in 2013.&nbsp; The decrease was primarily caused by the decrease in the copper price and weak demand in this market.&nbsp; In addition, the Company&#8217;s main product in this region is enameled wire, as the technology required to manufacture the product is low and the manufacturing process is not sophisticated, the margin was eroded by competition in the local market.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Notwithstanding the drop of sales in the Thailand region by 7% as mentioned above, gross profit margin of the region was 15.17% in 2013, up from 13.29% in 2012, an increase of 14%.&nbsp; Our major clients in this region included government entities, private sector participants in the infrastructure sector and agents for governmental entities.&nbsp; As the selling price was set at a predetermined amount based on the sales agreements signed with these customers, the region enjoyed a higher profit margin as the copper price decreased leading to products manufactured at a lower cost.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The gross profit margin of the ROW region decreased slightly from 12.44% in 2012 to 12.17% in 2013. The gross profit margin of the region in 2013 remained stable compared to that of 2012.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Operating Profit</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">SG&amp;A expenses were $34,559 in 2013, slightly decreased by $34, or 0.1%, from $34,593 in 2012.&nbsp; For the year ended 2013 and 2012, SG&amp;A expenses accounted for 7.5% of the net sales for both years. </FONT></P></DIV>

<P style="TEXT-ALIGN: center">53</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_63></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">In 2013, we recorded a provision of allowance for doubtful accounts of $0.2 million, owing to the fact that some of the major customers of the Company were not able to settle their outstanding trade receivables.&nbsp; Our internal controls provide that we perform a detailed review of our outstanding receivables, and make adjustments to our estimate to reflect significant delinquent accounts receivable.&nbsp; The Company is not aware of any significant delinquent accounts receivable that have not already been adequately reserved.&nbsp; In addition, we believe that our periodic allowance for doubtful accounts will continue to not have a material impact on our liquidity.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The decrease in the operating income in 2013, as compared to 2012, was attributable to the insurance proceeds in 2012 in the amount of $4.8 million (Baht 149 million) due to the suspended operations temporarily in the fourth quarter of 2011 because of damage sustained from the floodingin Thailand.&nbsp; The decrease in operating expenses in 2013 was also for the same reason as there was no flooding related spending in 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Finance Cost</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The finance cost included interest from debts and borrowings.&nbsp; The interest decreased as the Company&#8217;s interest-bearing loans and borrowings decreased from $57.8 million at December 31, 2012 to $41.8 million at December 31, 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Finance Income</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The finance income was interest earned from bank deposits.&nbsp; The total long-term and short-term bank deposits decreased by $7.1 million, from $17.4 million at December 31, of 2012 to $10.3 million at December 31, 2013, which led to the decrease in interest income in 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Share of Profit (Loss) of an Associate</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The increase in the share of loss of an associate by $0.2 million in 2013, as compared to that of 2012, was primarily due to the Company recognized $0.2 million loss according to its shareholding in SPRC in 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Gain on Disposal of Investment</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The gain was from the disposal of the Company&#8217;s equity investment in Shandong Huayu Pacific Fiber Optics in 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Gain on Liquidation of Subsidiaries</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The gain was generated from the liquidation of the subsidiary, Myanmar Sigma Cable Co. Ltd.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Exchange Gain/(Loss)</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The exchange rates at December 31, 2013 and 2012 are listed below, based on the Noon Buying Rate. However, they do not actually reflect the ongoing rates during the year when transactions actually took place.&nbsp;</FONT></P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=center>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 22.15pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 22.15pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 22.15pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">As of December 31,</FONT></B></P>
</DIV></TD></TR>
<TR style="HEIGHT: 22.15pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 22.15pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 22.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">2013</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 22.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10.5pt" color=#000000 face="Times New Roman">2012</FONT></B></P>
</DIV></TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Foreign currency to US$1:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Thai Baht</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">32.68</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">30.59</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Singapore $</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">1.262</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">1.221</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Australian $</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">1.120</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">0.962</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="70%">
<P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">Chinese RMB</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">6.054</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10.5pt" face="Times New Roman">6.230</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">54</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_64></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0in"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Based on the above rates, the revaluation of assets and liabilities denominated in U.S. dollars or foreign currencies in the Company resulted in unrealized and realized foreign exchange loss of $1.2 million in 2013.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other Income</FONT></I></P>
<P style="TEXT-INDENT: 17pt; MARGIN: 0in 0in 12pt 5pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other income decreased by $0.5 million from $1.9 million in 2012 to $1.5 million in 2013 primarily due to the net gain from financial instruments recognized in 2012.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other Expense</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Other expenses increased by $0.3 million compared to 2012 primarily due to the net loss on financial instruments in 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 27.35pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Income Taxes</FONT></I></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Income tax expense was $5.5 million in 2013 compared to $7.6 million in 2012. The change was mainly due to the decrease in pre-tax income.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liquidity and Capital Resources</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">As of December 31, 2013 we had $62.5</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> million in cash and cash equivalents, primarily in bank accounts and cash on hand, and none of which was in unrestricted or restricted short-term bank deposits.&nbsp; Our current sources of cash are our cash on hand, cash generated by our operations and our credit facilities.&nbsp; Our primary financing needs will continue to be available for the purchase and replacement of property, plant and equipment and future acquisitions.&nbsp;</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We have no direct business operations other than our ownership of the capital stock of our subsidiaries and equity investees.&nbsp; Consequently, our subsidiaries have been and will continue to be the primary source of funds generated by operations.&nbsp; Corporate needs are funded primarily through distributions from our subsidiaries.&nbsp; Although we have no current intention to pay dividends, we would rely upon distributions of dividends from our subsidiaries in order to do so.&nbsp; As noted in our risk factors, our operating subsidiaries and other holdings and investments, from time to time, may be subject to restrictions on their ability to make distributions to us.&nbsp; Such restrictions could result from restrictive covenants contained in our loan agreements, restrictions on the conversion of local currency earnings into U.S. dollars or other currency and other regulatory restrictions.&nbsp; For example, PRC legal restrictions permit payments of dividends by our business entities in the PRC only out of their retained earnings, if any, determined in accordance with relevant PRC accounting standards and regulations.&nbsp; Under PRC law, such entities are also required to set aside a portion of their net income each year to fund certain reserve funds.&nbsp; These reserves are not distributable as cash dividends.&nbsp; The foregoing restrictions may also affect our ability to fund operations of one subsidiary with dividends and other payments received from another subsidiary.&nbsp; We are not aware of any other restrictions in other countries in which we do business other than those discussed in the &#8220;Risk Factors&#8221; section.&nbsp; Distributions may also be restricted as the result of objections by minority shareholders of our subsidiaries and current cash requirements of the operating subsidiaries.&nbsp; Consequently, we periodically need to manage our corporate cash needs with the timing of distributions.</FONT></P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US color=#000000 face="Times New Roman"><EM></EM></FONT>&nbsp;</P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">55</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_65></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 2.2pt 0cm 13.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">&nbsp;<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We maintain several working capital and overdraft credit facilities with various commercial bank groups and financial institutions.&nbsp; Under our line of credit arrangements for short-term debt with our banks, </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">we may borrow up to approximately $270.0 million, including letters of credit for commodity purchases, on such terms as we and the banks mutually agreed upon.&nbsp; These arrangements do not have termination dates but are reviewed annually for renewal.&nbsp; As of December 31, 2013, the unused portion of the credit lines was approximately $171.7 million</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">. Letters of credit are issued on our behalf in the ordinary course of business by our banks as required by certain supplier contracts.&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">As of December 31, 2013, the Company had opened letters of credit totaling $33.7 million.&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Liabilities relating to the letters of credit are included in current liabilities.&nbsp; There is no seasonality to the Company&#8217;s borrowing, nor is there any restriction on the use of such borrowing.</FONT></FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Net cash provided by operating activities in the year ended December 31, 2013 was $20.6 million, as compared to $10.7 million of net cash provided by operating activities in the year ended December 31, 2012.&nbsp; Days of sales outstanding (&#8220;DSO&#8221;) is a measure of the average collection period of accounts receivable, and although the calculation is influenced by the period used and the timing of sales within that period, it can provide insight into the variances in collections from period to period.&nbsp; Our days of sales outstanding as December 31, 2013 were </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">98&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=red face="Times New Roman"> </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">days</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, as compared to 91 days as of December 31, 2012.&nbsp; We have in place rigorous policies across the Company that emphasizes the importance of continuance focus on collection efforts.&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Net cash used in financing activities amounted $19.4 million, incurred for the repayment of loans and borrowings.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We engage in various transactions with PEWC, including the purchase of certain raw materials and the distribution of PEWC products mainly in Singapore.&nbsp; The Composite Services Agreement contains provisions that define our relationship and the conduct of our respective businesses and confers certain preferential benefits on us.&nbsp; Under the Composite Services Agreement, the material terms of which are summarized in the &#8220;Material Contracts&#8221; section, there are no obligations binding on the Company in favor of PEWC, nor are there any pre-established purchase commitments for copper.&nbsp; As such, the Composite Services Agreement should not impact cash flows or liquidity until such time as actual purchases are made in the ordinary course of business such as for the purchase of raw materials.&nbsp; The Composite Service Agreement may, however, impact operations to the extent that PEWC is not able to fulfill its obligations, such as supplying copper, and copper is not otherwise readily available on comparable terms from other market sources.&nbsp; Cash generated by operations and borrowings, when needed, from our credit facilities have been the primary sources of funding purchases under the Composite Services Agreement, and we believe these sources will continue to provide sufficient funds for future purchases under this agreement.&nbsp; </FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We believe funds generated by our operating activities, our cash on hand and amounts available to us under our credit facilities will provide adequate cash to fund our requirements through at least the next twelve months.&nbsp; We continue to have sufficient liquidity to meet our anticipated working capital, capital expenditures, general corporate requirements, and other short-term and long-term obligations as they come due.&nbsp; We may further enhance our liquidity in the future, as needs arise, by establishing additional lines of credit, with the support of one or more of our principal shareholders if necessary and available.&nbsp; We currently anticipate that we will retain all of our earnings to fund our operations and do not anticipate paying any cash dividends in the foreseeable future.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Research and Development</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company does not currently engage in its own research and development.&nbsp; Under the Composite Services Agreement with PEWC described herein, the Company benefits from research and development conducted by PEWC at little or no cost to the Company.&nbsp; Most recently, the Company utilized technology from its parent company, PEWC, to assist in developing the Company&#8217;s new business line of electronic wire being manufactured in NPC&#8217;s facility.&nbsp; Accordingly, the Company has not made material expenditures on or commitments to research and development since formation.</FONT></P>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">56</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_66"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=red face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=red face="Times New Roman"><STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trend Information</FONT></STRONG></FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><STRONG><EM></EM></STRONG>&nbsp;</P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We are not aware of any trend, commitment, event or uncertainty that can reasonably be expected to have a material effect on our current or future business other than the following, each of which has materially impacted our financial results in the past and may do so in the future:</FONT></P>

<P style="TEXT-INDENT: -19.8pt; MARGIN: 0in 0in 12pt 61.6pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Uncertainty arising from the volatility in the cost of copper, our principal raw material.</FONT></I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp; In 2013, the copper price went down from $7,950 (yearly average for 2012) per metric ton to $7,326 per metric ton (yearly average for 2013). Under our business model, the Company, like other companies in the industry, remains subject to movements in the price of copper, our principal raw material.</FONT></P>

<P style="TEXT-INDENT: -19.8pt; MARGIN: 0in 0in 12pt 61.6pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fluctuations in the demand for our products in the markets in which we do business,</FONT></I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> based upon variations in the level of governmental and private investments in communications, power and industrial projects and programs that utilize our products. We are not an end-user of our products and, therefore, we depend upon the requirements of our customers to generate sales.</FONT></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">See &#8220;Quantitative and Qualitative Disclosures About Market Risk.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Off-Balance Sheet Arrangements</FONT></B></P>

<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has not entered into any transactions with unconsolidated entities whereby the Company has financial guarantees, subordinated retained interests, derivative instruments, or other contingent arrangements that expose the Company to material continuing risks, contingent liabilities, or any other obligation in an unconsolidated entity that provides financing, liquidity, market risk, or credit risk support to the Company.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual Obligations</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The following table sets forth our obligations and commitments to make future payments under contracts and other commitments as of December 31, 2013:</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="3%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="42%" colSpan=9>

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Payments due by period</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 25.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 25.9pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Contractual obligations</FONT></B></P>

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(In thousands of US$)</FONT></B></P></DIV></TD>

   <TD vAlign=bottom width="3%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 25.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>

   <TD vAlign=bottom width="3%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 25.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Less than 1 year</FONT></B></P></DIV></TD>

   <TD vAlign=bottom width="3%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 25.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">2-3 years</FONT></B></P></DIV></TD>

   <TD vAlign=bottom width="3%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 25.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">4-5 years</FONT></B></P></DIV></TD>

   <TD vAlign=bottom width="3%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 25.9pt; PADDING-TOP: 0in" vAlign=bottom width="6%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">More than 5 years</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Bank loans and overdrafts</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">41,789</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">41,789</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Capital lease obligations (principal amount only)</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">65</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">37</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">28</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Finance charges on capital lease obligations</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">5</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">4</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Operating lease obligations</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">4,679</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">913</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">962</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">744</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;2,060</FONT></P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Capital commitment relating to installation of equipment and acquisition of machinery</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">3,123</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">3,123</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Capital commitment relating to repair and maintenance consulting service</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,375</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">1,375</FONT></P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Purchase obligations for copper cathodes</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">174,905</FONT></P></DIV></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">174,905</FONT></P></DIV></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="3%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; HEIGHT: 13.5pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

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

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-BOTTOM: 0pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 12.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="55%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">225,941</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">222,146</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">991</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">744</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" vAlign=bottom width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">$</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in" align=right><FONT style="FONT-SIZE: 10pt" face="Times New Roman">2,060</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 2pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center">57</P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_67></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0in"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The contractual obligation for the purchase of coper cathodes disclosed in the table above was the minimun purchase commitment.&nbsp;For more details on financial commitments and contingencies, please refer to our audited consolidated financial statements and the notes thereto in Item 18:&nbsp; &#8220;Financial Statements.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -31.7pt; MARGIN: 0in 0in 12pt 0.75in"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.9 &nbsp;&nbsp;&nbsp;&nbsp; Adoption of International Financial Reporting Standards as issued by International Accounting Standards Board</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The management of the Company has decided to adopt International Financial Reporting Standards (IFRS) as issued by International Accounting Standards Board. The move from US GAAP to IFRS is to align with APWC subsidiaries that have already adopted local IFRS, and&nbsp;to bring more consistency in accounting and financial reporting amongst its operating subsidiaries. The date of the conversion to IFRS has been set to commence January 1, 2013.&nbsp; For a discussion of the information concerning the use of exceptions permitted or required by IFRS 1, please see our audited consolidated financial statements included in this annual report.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">58</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<P>&nbsp;</P>


<P>&nbsp;</P>

&nbsp;
<A name=page_70></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 6:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directors, Senior Management and Employees</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directors and Senior Management</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">There is only one class of directorships and no one or more directors possesses any veto power over matters presented to the Board or any other special or enhanced voting rights. &nbsp;The Bye-Laws provide that a quorum consists of a majority of the directors then in office.&nbsp; As of December 31, 2013, there were a total of 9 directors on the Board, including three independent directors, Mr. Anson Chan, Dr. Yichin Lee, and Dr. Lambert Ding.&nbsp; By a resolution passed at the Company&#8217;s most recent annual general meeting of shareholders (the &#8220;2013 AGM&#8221;) held on November 15, 2013, the shareholders determined that the minimum number of directors shall be fixed at two (2), the maximum number of directors be fixed at ten (10) and that one (1) vacancy shall exist on the Board of Directors, which shall be deemed to be a casual vacancy, which may be filled from time to time by the Board of Directors in accordance with the provisions of the Bye-Laws. &nbsp;Each director is entitled to one vote, and approval of any matter requires a simple majority assuming a quorum is present. &nbsp;The following table sets forth certain information concerning the current directors and certain other officers of the Company.&nbsp; All directors are subject to annual election by the shareholders of the Company.&nbsp; Each of the directors was reelected at the Company&#8217;s 2013 AGM. Officers generally hold office for such period and upon such terms as the Board may determine.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 14.1pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=middle width="32%">
<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; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=#000000 face="Times New Roman">Name</FONT></I></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=middle width="25%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 13.2pt; BORDER-TOP: medium none; MARGIN-RIGHT: 13.2pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=#000000 face="Times New Roman">Date of Birth</FONT></I></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=middle width="43%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 13.2pt; BORDER-TOP: medium none; MARGIN-RIGHT: 13.2pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=#000000 face="Times New Roman">Position</FONT></I></B></P>
</DIV></TD></TR>
<TR style="HEIGHT: 26pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 26pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Appleby Services (Bermuda) Ltd.</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 26pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 22.4pt; MARGIN: 1.1pt 0cm 4.4pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">N/A</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 26pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 1.1pt 0cm 4.4pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Assistant Resident Secretary</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Anson Chan</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 3, 1963</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Independent director, Audit Committee Chairman</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Andy C.C. Cheng</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">April 29, 1958</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Director and Non-Executive Chairman of the Board</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fang Hsiung Cheng</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">May 31, 1942</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Director</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Alex Erskine</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">September 7, 1963</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Resident Secretary in Bermuda</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 18.6pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 18.6pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 1.1pt 0cm 4.4pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Daphne Hsu</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 18.6pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 1.1pt 0cm 4.4pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">August 12, 1962</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 18.6pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 1.1pt 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Financial Controller</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 18.6pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 18.6pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Lambert L. Ding</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 18.6pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 1.1pt 0cm 4.4pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 12, 1959</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 18.6pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Independent director, Audit Committee Member</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Michael C. Lee</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">September 28, 1951</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Director</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Yichin Lee</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">January 4, 1961</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Independent director, Audit Committee Member</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Ching Rong Shue</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">March 4, 1950</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Director</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">David Sun</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">December 22, 1953</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Director</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Yuan Chun Tang</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 26, 1960</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Director, Chief Executive Officer</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 14.1pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 14.1pt; PADDING-TOP: 0cm" width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 1.1pt 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">William Gong Wei</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 1.1pt 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 31, 1961</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 1.1pt 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Chief Operating Officer</FONT></I></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="32%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Ivan Hsia</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" width="25%">
<P style="TEXT-INDENT: 20.9pt; MARGIN: 0cm 0cm 0pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">August 14, 1973</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="43%">
<P style="TEXT-INDENT: -9.25pt; MARGIN: 0cm 0cm 0pt 22.45pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Chief Financial Officer</FONT></I></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0cm"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Certain officers and directors of the Company are or were also officers and directors of PEWC and/or PEWC affiliates, as described below.&nbsp; A brief professional summary for each member of the Board of Directors and senior management is as follows:</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Anson Chan has been an independent member of the Company&#8217;s Board of Directors and a member and Chairman of the Audit Committee and compensation committee since 2007.&nbsp; Mr. Chan is also a Managing Director of the Bonds Group of Companies and was a Senior Advisor to Elliott Associates from 2005 to 2008.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Andy C.C. Cheng was a member of the Company&#8217;s Board of Directors from 2004 to 2005 and was re-elected in 2007.&nbsp; Mr. Cheng was appointed as Chairman of the Board in 2009.&nbsp; From 1987 to 2003, Mr. </FONT>

<a name="page_71"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Cheng served as Vice President in charge of procurement at PEWC.&nbsp; Mr. Cheng has been an Executive Vice President at PEWC since 2004 and Chairman of each of the investment divisions of PEWC, Tai Ho Investment Co., Ltd. and You Chi Investment Co., Ltd., since June 2008.&nbsp; Mr. Andy C.C. Cheng is not related to Mr. Fang Hsiung Cheng.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">59</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_71></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Fang Hsiung Cheng has been a member of the Company&#8217;s Board of Directors since 2006.&nbsp; He also serves as Assistant Vice President of PEWC.&nbsp; Mr. Fang Hsiung Cheng is not related to Mr. Andy C.C. Cheng.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Alex Erskine was appointed as resident Secretary in Bermuda in October 2008.&nbsp; Mr. Erskine is a partner in the Bermuda law firm of Appleby,&nbsp;which&nbsp;firm he joined in 1999.&nbsp; From March 2007 until October 2008, Mr. Erskine was the managing partner of the British Virgin Islands office of Appleby.&nbsp; Prior to joining Appleby, Mr. Erskine was Deputy Legal and Compliance Director of the Asset Management Division of UBS AG.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Ms. Daphne Hsu has been Financial Controller of the Company since March 2005, prior to which she served as Financial Controller for ten years in Taiwan and China at a Thomson SA joint venture.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Dr. Lambert Ding was appointed March 17, 2011 as an independent member of the Board of Directors. Dr. Ding is the president and CEO of Union Environmental Engineering Services and before that, he was an associate professor at Yuan Ze University. &nbsp;Dr. Ding holds a Doctor of Philosophy degree from the University of Southern California, awarded in 1989. &nbsp;He is also a Registered Environment Assessor and holds several patents. Dr. Ding serves as a member of the audit committee and compensation committee.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Michael C. Lee has been a member of the Company&#8217;s Board of Directors since 2004 and is also Chief Executive Officer of PEWC and Chairman of Pacific USA Holdings, Ltd.&nbsp; Mr. Michael C. Lee is not related to Dr. Yichin Lee.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Dr. Yichin Lee has been an independent member of the Company&#8217;s Board of Directors and served on the Audit Committee since 2007. &nbsp;He is also a member of the compensation committee.&nbsp; Dr. Lee is the Managing Director of FCC partners. Dr. Yichin Lee holds a doctorate degree in Resource Planning and Management from Stanford University.&nbsp; Dr. Yichin Lee is not related to Mr. Michael C. Lee.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Ching Rong Shue has been a member of the Company&#8217;s Board of Directors since 2006.&nbsp; He also serves as Vice President of PEWC.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. David Sun has been a member of the Company&#8217;s Board of Directors since 2007.&nbsp; He also serves as President of PEWC and Managing Director of Charoong Thai Wire and Cable Public Company Limited.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Yuan Chun Tang has been a member of the Company&#8217;s Board of Directors since 2004 and Chief Executive Officer since 2005.&nbsp; Mr. Yuan served as the Company&#8217;s Chairman from 2005 to 2009.&nbsp; He has also served as Chairman of PEWC since 2004 and has been the Director of Pacific Construction Corp. Ltd since 2002.&nbsp; Mr. Yuan served as the Director of Taiwan Co-generation Corp from 2005 to 2008.&nbsp; Mr. Yuan has also been the Chairman of Taiwan Electric Wire &amp; Cable Industries Association since 2004.&nbsp; He has served as the Supervisor to Taipei Importers/Exporters Association as well as the Director of Chinese National Federation of Industries in Taiwan since 1998 and 2004, respectively.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. William Gong Wei has been appointed Chief Operating Officer effective April 1, 2013. &nbsp;He was first assigned to Charoong Thai Wire and Cable Pte. Co. Ltd. as Engineer, Assistant Plant Manager, and later consultant to the high voltage cable division from 1991 to 2000. In April 2009 he was promoted to General Manager of Sigma Cable in Singapore. &nbsp;Mr. Gong Wei holds a master&#8217;s degree from the Asian Institute of Technology in Bangkok, Thailand.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">60</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_72></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Mr. Ivan Hsia was appointed as Chief Financial Officer effective August 1, 2013.&nbsp; Mr. Hsia previously served as the Deputy CFO of the Company.&nbsp; Prior to that, he served as the Senior Internal Audit Manager of the Company.&nbsp; Before joining APWC, Mr. Hsia was the head of internal audit at Newegg.com in Los Angeles, CA, USA.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s Common Shares are traded on the Global Tier of NASDAQ.&nbsp; Notwithstanding that, the Board of Directors is not composed of a majority of independent directors.&nbsp; The Company is relying upon the &#8220;controlled company exemption&#8221; that is available to issuers under the rules of NASDAQ.&nbsp; In effect, the &#8220;controlled company exemption&#8221; provides that an issuer is not required to have its Board of Directors consist of a majority of independent directors if a shareholder, or two or more shareholders who constitute a group, have beneficial ownership of more than 50% of the issued and outstanding voting securities of the issuer.&nbsp; PEWC owns and controls, directly or indirectly, 65.6% of the issued and outstanding Common Shares of the Company.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">No service contract exists between any director and the Company or any of its subsidiaries providing for benefits upon termination of employment.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has no arrangements or understandings with any major shareholders, customers, suppliers or others, pursuant to which any person referred to above was selected as a director or member of senior management.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit Committee</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Audit Committee of the Board of Directors primarily functions to assist the Board in its oversight of: (i)&nbsp;the reliability and integrity of accounting policies and financial reporting and disclosure practices and (ii)&nbsp;the establishment and maintenance of processes to ensure that there is compliance with all applicable laws, regulations and company policy and an adequate system of internal control, management of business risks and safeguard of assets.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Audit Committee is composed of Mr. Anson Chan, Dr. Yichin Lee and Dr. Lambert Ding, with Mr. Chan serving as the chairman of the Audit Committee.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Audit Committee, as currently constituted, complies with the requirements of Regulation 10A-3 of the Exchange Act and the corporate governance requirements of NASDAQ.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compensation Committee</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Compensation Committee primarily functions to assist the Company in determining the compensation to be paid to the executive directors and certain numbers of the senior management of the Company.&nbsp; According to the charter under which it operates, the Compensation Committee is authorized to:&nbsp; (i)&nbsp;review and recommend to the Board, or determine, the annual salary, bonus, stock options, and other benefits, direct and indirect, of the senior management of the Company and its principal operating subsidiaries; (ii)&nbsp;review new executive compensation programs, review on a periodic basis the operations of the Company&#8217;s executive compensation programs to determine whether they are properly coordinated, establish and periodically review policies for the administration of executive compensation programs, and take steps to modify any executive compensation programs that yield payments and benefits that are not reasonably related to executive performance; (iii)&nbsp;engage outside auditors and consultants to advise on market compensation; and (iv) establish and periodically review policies in the area of management perquisites.&nbsp;</FONT></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Compensation Committee is comprised of three independent directors, Mr. Anson Chan, Dr. Yichin Lee, and Dr. Lambert Ding. Mr. Andy Cheng and Mr. Yuan Chun Tang, the Company&#8217;s Chairman and Chief Executive Officer respectively, serve in a non-voting advisory capacity to the Compensation Committee.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">61</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_73></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compensation</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The aggregate amount of compensation paid by the Company to all of the Company&#8217;s directors and executive officers, as a group, for services in all capacities during 2013 was approximately $2.1 million.&nbsp; As of March 31, 2014, our directors and executive officers beneficially owned approximately 50,000 Common Shares representing approximately 0.4% of the issued and outstanding Common Shares.&nbsp; The annual compensation of its executive officers and directors on an individual basis is not a disclosure item under the laws of Bermuda or Taiwan.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In 2013, the fee payable to independent directors is $30,000 per year and the fee payable to directors who are executive officers of the Company or PEWC is $20,000 per year, together with, in each case, reimbursement of reasonable travel expenses for attendance of meetings of the Board of Directors.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">No funds or provisions have been set aside for providing compensation to directors or management except for government mandated programs.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employees</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company employed a total of 1,412 employees as of December 31, 2013, of which about 19.1% were administrative and management personnel.&nbsp; Approximately 56.4% of employees were located in Thailand, 25.7% in China, 11.1% in Singapore and 5.5% in Australia.&nbsp; In addition, a small number of senior management and their support staff are based in our corporate headquarters in Taipei.&nbsp; Production workers are usually organized into two 12-hour shifts or three 8-hour shifts to allow continuous factory operations.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company offers a range of employee benefits, which it believes are comparable to industry practice in its local markets.&nbsp; Such benefits include performance-based pay incentives, medical benefits, vacation, pension, housing for a small number of workers in Singapore and in Thailand, and a small housing supplement to other workers.&nbsp; The Company also provides training programs for its personnel designed to improve worker productivity and occupational safety.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Presently, there is no group bonus, profit-sharing or stock option plan.&nbsp; However, some of the Company&#8217;s subsidiaries have bonus or profit-sharing plans based on individual performance and the profitability of the particular subsidiary for the fiscal year, which plans are generally in accordance with the industry practice and market conditions in the respective countries.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has several defined benefit and defined contribution plans covering its employees in Thailand, Australia, the PRC and Singapore.&nbsp; Contributions to the plans are made on an annual basis and totaled $1.4 million in 2013.&nbsp; Additionally, the Company has several defined benefit plans in accordance with Thailand labor law.&nbsp; In its Thai subsidiaries, the Company must pay a retiring employee from one to twenty-nine times such employee&#8217;s salary rate during his or her final month, depending on the length of service.&nbsp; During 2013, the Company&#8217;s total expenses under this labor law were $0.5 million.&nbsp; These plans are not funded and the amount is recognized and included in Employee Benefit Liabilities in the Company&#8217;s balance sheet.&nbsp; The Company settles it obligations as and when employees retire.&nbsp; The accumulated benefit obligations under this plan amounted to $5.9 million as at December 31, 2013.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Approximately 21% of the employees of Sigma Cable are members of the United Workers of Electronics &amp; Electrical Industries, an employees&#8217; union in Singapore.&nbsp; Under the terms of a collective agreement signed in June 2003, the Company is required to negotiate salary and wage increases yearly.&nbsp; All other worker benefits and employment terms are included in the collective agreement.&nbsp; The Company believes that approximately 100% and 99% of the employees of PEWS and Shanghai Yayang, respectively, are members of their respective Company Workers&#8217; Unions.&nbsp; These unions generally operate in accordance with related labor regulations in China.&nbsp; Approximately 16% of the employees of APEC are members of the Australian Workers&#8217; Union.&nbsp; None of the employees of the other operating subsidiaries of the Company are members of a union.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">62</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_74></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has never experienced a strike or other disruption due to labor disputes.&nbsp; The Company considers its employee relations to be satisfactory and has not experienced difficulties attracting and retaining qualified employees.&nbsp; In Singapore, employee turnover is approximately 10% of total employees annually.&nbsp; In Thailand, average employee turnover is approximately 10% of total employees annually.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 7:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Major Shareholders and Related Party Transactions</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Major Shareholders</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On March 27, 2009, PEWC acquired 1,410,739 Common Shares of the Company from SOF, which amount represented 51% of the Common Shares then held by SOF. Following that transaction, PEWC and SOF held 65.6% and 9.8% of the issued and outstanding Common Shares of the Company, respectively.&nbsp; As of July 1, 2011, SOF transferred and conveyed its ownership interest in the 1,355,415 Common Shares held by it to COF.&nbsp; Pursuant to a 2012 Share Buy-back Plan, the Company re-purchased 9,300 Common Shares, which are now held by the Company and booked as treasury shares.&nbsp; In a subsequent private transaction in June 2013, the Company repurchased a further 1,800 Common Shares, such that a total of 11,100 Common Shares are now issued but not outstanding and are booked as treasury shares. &nbsp;The remaining approximately 24.5% of the issued and outstanding Common Shares are publicly traded in the U.S. on the NASDAQ Global Markets tier.</FONT></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following table sets forth certain information regarding beneficial ownership of the Company&#8217;s Common Shares as of March 31, 2014 by (i)&nbsp;all persons who are known to the Company to own beneficially more than five percent of the Common Shares of the Company and (ii)&nbsp;the officers and directors of the Company as a group.&nbsp; The information set forth in the following table is derived from public filings made by holders and information obtained from directors and officers.&nbsp; The voting rights attaching to the Common Shares below are the same as those attaching to all other Common Shares.</FONT></P>
<DIV align=center>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 25.9pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 25.9pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">
<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; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Identity of Person or Group</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 25.9pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Number of</FONT></B></P>
<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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Shares&nbsp;</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 25.9pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Percent of Class</FONT></B></P>
</DIV></TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Pacific Electric Wire &amp; Cable Co., Ltd.</FONT><SUP><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></SUP></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">9,075,354</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">65.617%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face="Times New Roman">MSD Credit Opportunity Master Fund, L.P.<SUP>(2)</SUP></FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">1,355,415</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">9.800%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="48%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Directors and Officers of the Company</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">102,954</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=bottom width="26%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">0.744%</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-INDENT: 22.3pt; MARGIN: 12pt 0cm"><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(1)</FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; PEWC owns 1,410,739 shares directly and owns its remaining shares indirectly, as a result of PEWC&#8217;s control of its direct wholly</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math">&#8209;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">owned subsidiary, Moon View Ventures Limited, a BVI company, which beneficially owns 7,007,948 Common Shares, and as a result of PEWC&#8217;s control of its indirect wholly</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math">&#8209;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">owned subsidiary, Pacific Holdings Group, a Nevada corporation, which beneficially owns 656,667 Common Shares.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(2)</FONT></SUP><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; MSD Credit Opportunity Master Fund, L.P. is the record and direct beneficial owner of the Common Shares.&nbsp; MSDC Management, L.P. is the investment manager of, and may be deemed to have or share voting and dispositive power over, and/or beneficially own Common Shares owned by, MSD Credit Opportunity Master Fund, L.P. (herein called &#8220;COF&#8221;).&nbsp; MSDC Management (GP), LLC is the general partner of, and may be deemed to have or share voting and dispositive power over, and/or beneficially own Common Shares owned by, MSDC Management, L.P.&nbsp; Each of Glenn R. Fuhrman, John C. Phelan and Marc R. Lisker is a manager of MSDC Management (GP) and may be deemed to have or share voting and/or dispositive power over, and beneficially own, the common shares beneficially owned by MSDC Management (GP).&nbsp; Each of Mr. Fuhrman, Mr. Phelan and Mr. Lisker disclaims beneficial ownership of such common shares, except to the extent of the pecuniary interest of such person in such shares.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has 6,166,154 Common Shares that are registered securities, of which 3,388,900 Common Shares are publicly-traded on the NASDAQ Global Markets tier, which represents approximately 24.5% of the issued and outstanding Common Shares.&nbsp; With regard to the remaining 2, 777,254 registered securities, 2,766,154 Common Shares, are held by PEWC and COF, and 11,100 Common Shares are held by the Company in treasury, and all of those shares are subject to trading restrictions under Rule 144 promulgated under the Securities Act.&nbsp; Other than the approximately 50,000 Common Shares held by directors or officers </FONT>

<a name="page_75"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">who are not resident in the United States and the 1,410,739 registered securities held indirectly by PEWC, the Company believes that substantially all of its registered securities are held by U.S. residents (other than the 11,100 Common Shares held by the Company in treasury).&nbsp; The Company has no means to definitively confirm that belief, however, which is based upon a review of the share registers maintained by the Company&#8217;s Bermuda transfer agent and U.S. transfer agent and the addresses provided by the record holders.&nbsp; Based upon a review of the records of the Company&#8217;s U.S. transfer agent, including a list of non-objecting beneficial holders (&#8220;NOBOs&#8221;), the Company believes there are substantially more than 400 beneficial holders that are resident in the United States, although that constitutes only the Company&#8217;s best estimate of the number of U.S. beneficial holders.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">63</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_75></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Related Party Transactions</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company incurs ordinary course trade payables with PEWC in connection with copper purchases under the Composite Services Agreement and the sale by the Company of Distributed Products that are manufactured by PEWC.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As of December 31, 2013 and the latest practicable date of March 31, 2014, the Company, including its subsidiaries, had a net principal balance outstanding of $9.6 million borrowed from PEWC and subsidiaries of PEWC. &nbsp;This short-term indebtedness is payable on a demand basis and does not accrue interest.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company used the proceeds from each of the related party loans described above for working capital and purchases of capital equipment. &nbsp;The terms of borrowing by APWC or any of its subsidiaries from PEWC are on terms at least no less favorable than terms available in arms-length transactions with unaffiliated parties.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Other than the Amended and Restated Shareholders Agreement, the Company is not a party to any agreements, and has not engaged in any other transactions, with COF or SOF, or to the Company&#8217;s knowledge, their owners.&nbsp; For a more detailed description of the Company&#8217;s obligations under the Shareholders Agreement, see the risk factor entitled &#8220;</FONT><U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Obligations under Amended and Restated Shareholders Agreement</FONT></U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&#8221;&nbsp;&nbsp;</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under the terms of the Composite Services Agreement, APWC pays a management fee to PEWC in connection with the secondment, or temporary assignment and relocation, of certain PEWC managers to APWC facilities in Thailand and Shanghai.&nbsp; The assigned managers assist APWC in implementing the results of certain research and development conducted by PEWC and made available by PEWC to the Company under the terms of the Composite Services Agreement.&nbsp; The assigned managers also assist APWC in the procurement of raw materials, primarily copper, which is also provided for under the Composite Services Agreement.&nbsp; The amount of such annual management fee was $301,000 as of December 31, 2013.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Additional details regarding related party balances as of December 31, 2013 and related party transactions, including copper purchases from PEWC, are disclosed in our audited consolidated financial statements in Item 18:&nbsp; Financial Statements.&nbsp;</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">There have been no other related party transactions or contracts entered into between PEWC and APWC in 2013.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 8:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Information</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal Proceedings</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">There are currently no material proceedings in which any director, senior manager, or affiliate is adverse to the Company or has an adverse material interest.&nbsp; There are no actual or pending legal proceedings to which the Company is, or is likely to become, a party which may reasonably be expected to have, or have had in the recent past, a material effect on the Company&#8217;s condition (financial or otherwise) or results of operations.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">64</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_76></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend Policy</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">To date, the Company, a Bermuda company formed in 1996, has not paid any dividends.&nbsp; While the Company has no present intention to pay dividends, should it decide in the future to do so, as a holding company the Company&#8217;s ability to pay dividends, as well as to meet its other obligations, will depend upon the amount of distributions, if any, received from the Company&#8217;s operating subsidiaries and other holdings and investments.&nbsp; The Company&#8217;s operating subsidiaries and other holdings and investments, from time to time, may be subject to restrictions on their ability to make distributions to the Company. &nbsp;Those restrictions may also affect the Company&#8217;s ability to fund operations of one subsidiary with dividends and other payments received from another subsidiary.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Significant Changes</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">There have been no material or significant changes in the Company&#8217;s affairs since the end of the fiscal year ended December 31, 2013 that have not been described herein.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 9:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Offer and Listing</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Historical Trading Information</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The high and low market prices for Common Shares on the over-the-counter bulletin board (the &#8220;OTC BB&#8221;) (from April 2008 until April 2011), and on the NASDAQ since April 29, 2011, for each period specified are as follows:</FONT></P>
<DIV align=center>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 14.1pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="31%" colSpan=2>
<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; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Price per Share ($)</FONT></B></P>
</DIV></TD></TR>
<TR style="HEIGHT: 14.1pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<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; TEXT-ALIGN: right; 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><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">High</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.1pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<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; TEXT-ALIGN: right; 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><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Low</FONT></B></P>
</DIV></TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Five most recent full financial years:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2009</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.39</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">0.50</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2010</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">7.85</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2.20</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2011</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">7.05</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1.92</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.99</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2.25</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.34</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.00</FONT></P>
</TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Two most recent full financial years:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">First quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">3.99</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">2.47</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Second quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">3.36</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">2.25</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Third quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">3.19</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">2.56</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fourth quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">3.45</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">2.64</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">First quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.34</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.35</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Second quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">4.25</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.26</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Third quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.96</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.25</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Fourth quarter</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.84</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.00</FONT></P>
</TD></TR>
<TR style="HEIGHT: 12.4pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 12.4pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Most recent six months:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">October 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.84</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.37</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">November 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.53</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.37</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">December 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.41</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.00</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">January 2014</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.38</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.18</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">February 2014</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">3.37</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2.94</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="69%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">March 2014</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="16%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2.99</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BACKGROUND: #cceeff; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="15%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2.73</FONT></P>
</TD></TR></TABLE></DIV></DIV>
<P style="TEXT-ALIGN: center">65</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_77></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<DIV align=center></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 12pt 0cm"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Markets</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s Common Shares were listed on NASDAQ Capital Markets tier on April 29, 2011 under the symbol &#8220;APWC&#8221;.&nbsp; On February 15, 2013, the Company&#8217;s Common Shares were elevated to NASDAQ Global Markets tier.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp; Prior to its NASDAQ listing, the Common Shares were traded on the OTC BB since April 2008 under the symbol &#8220;AWRCF&#8221;.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp; See the risk factor entitled &#8220;</FONT><U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Potential Illiquidity of Common Shares</FONT></U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">.&#8221;&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp; The Common Shares are not listed on any other exchanges or otherwise publicly traded within or outside the United States. &nbsp;The elevation of the Common Shares to NASDAQ&#8217;s Global Markets tier was achieved due primarily to an improved trading price of the Common Shares.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Item 10:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additional Information</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.1&nbsp;&nbsp;&nbsp; Share Capital</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As of December 31, 2013 and as of the date of the filing of this Annual Report, the Company has an authorized share capital of 50,000,000 Common Shares, par value $0.01 per share. &nbsp;During 2012, the Company repurchased 1,900 Common Shares. &nbsp;On December 31, 2012 there were 13,830,769 Common Shares issued and 13,828,869 Common Shares outstanding. &nbsp;During 2013, the Company repurchased a further 7,400 Common Shares, for a total of 9,300 Common Shares that were repurchased under the Company&#8217;s Share Buy-back Plan during 2012 and 2013, until the Company suspended the Share Buy-back Plan effective as of April 25, 2013.&nbsp; Subsequently in 2013, in a private transaction, the Company purchased a further 1,800 Common Shares that were also booked as treasury shares and are classified as issued but not outstanding. &nbsp;As of December 31, 2013, and as of the date of the filing of this Annual Report, there were and there are 13,830,769 Common Shares issued and 13,819,669 Common Shares issued outstanding.&nbsp; No capital of the Company is under option or agreed conditionally or unconditionally to be put under option.&nbsp; The Company does not have any classes of capital stock other than its Common Shares.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2&nbsp;&nbsp;&nbsp; Memorandum of Association and Bye-Laws</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 39.6pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.1&nbsp;&nbsp;&nbsp;&nbsp; General</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For a detailed description of the Company&#8217;s principal activities, see Section 4.1:&nbsp; &#8220;History and Development of the Business.&#8221; &nbsp;Pursuant to the Company&#8217;s Bye-Laws the Board of Directors consists of a single class of directors, each director has one vote on all matters put to the Board, and a quorum consists of a majority of the members of the Board of Directors then in office. &nbsp;The Company&#8217;s Bye-Laws were amended on October 7, 2011 to allow the Company to purchase its own shares for cancellation or acquire them to be held as treasury shares.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In 2012, the Company commenced a Share Buy-back Plan, pursuant to which the Company repurchased, in the aggregate, 9,300 issued and outstanding Common Shares, with the most recent purchase under the Share Buy-back Plan having been made on January 10, 2013.&nbsp; Subsequently in 2013, in a private transaction, the Company purchased a further 1,800 Common Shares that were also booked a treasury shares and are classified as issued but not outstanding. &nbsp;Those repurchased Common Shares are booked as treasury shares and may be re-sold to third parties by the Company in the future. &nbsp;In April 2013, the Company announced the suspension of the Share Buy-back Plan, </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">although the Board of Directors may re-implement it in the future if it so determines.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">66</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_78></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 39.6pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.2&nbsp;&nbsp;&nbsp;&nbsp; Description of Shareholder Rights Attaching to Our Common Shares</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company was incorporated in Bermuda on September 19, 1996 under the Companies Act.&nbsp; The rights of our shareholders are governed by Bermuda law and our memorandum of association and Bye-Laws.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following discussion of our Common Shares and the laws governing the rights of our shareholders is based upon the advice of Appleby (Bermuda) Limited, our Bermuda counsel.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our authorized share capital as of December 31, 2013 was $500,000 consisting of 50,000,000 Common Shares, par value $0.01 per share, of which, as of December 31, 2013, and as of the date of the filing of this Annual Report, there were and are 13,830,769 Common Shares issued and 13,819,669 Common Shares outstanding.&nbsp; There are 11,100 Common Shares that are issued (but not outstanding) and held as treasury shares by the Company.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Holders of the Common Shares have no preemptive, redemption, conversion or sinking fund rights, except by contract in the case of COF pursuant to the Amended and Restated Shareholders Agreement.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Holders of the Common Shares are entitled to one vote per share on all matters submitted to a poll vote of holders of Common Shares and do not have any cumulative voting rights.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the event of our liquidation, dissolution or winding-up and subject to any alternative resolution that may be pursued by our shareholders, the holders of Common Shares are entitled to share ratably in our assets, if any, remaining after the payment of all our debts and liabilities.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our outstanding Common Shares are fully paid and non-assessable.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Additional authorized but unissued Common Shares, and issued shares held in treasury, may be issued or conveyed by the Board without the approval of the shareholders.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The holders of Common Shares will receive such dividends, if any, as may be declared by the Board of Directors out of funds legally available for such purposes.&nbsp; We may not declare or pay a dividend, or make a distribution out of contributed surplus, if there are reasonable grounds for believing that:</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">we are, or after the payment would be, unable to pay our liabilities as they become due; or</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">the realizable value of our assets after such payment or distribution would be less than the aggregate amount of our liabilities and our issued share capital and share premium accounts.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following is a summary of provisions of Bermuda law and our organizational documents, including our memorandum of association and bye-Laws.&nbsp; We refer you to our memorandum of association and our bye-Laws, copies of which have been filed with the SEC.&nbsp; You are urged to read these documents in their entirety for a complete understanding of the terms thereof.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share Capital</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our authorized capital consists of one class of Common Shares.&nbsp; Under our Bye-Laws, our Board of Directors has the power to issue any authorized and unissued shares on such terms and conditions as it may determine.&nbsp; Any shares or class of shares may be issued with such preferred, deferred, qualified or other special rights or any restrictions with regard to such matters, whether in regard to dividend, voting, return of capital or otherwise, as we may from time to time by resolution of the shareholders prescribe, or in the absence of such shareholder direction, as the Board of Directors may determine.&nbsp; This provision in the Bye-Laws </FONT>

<a name="page_79"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">could be used to prevent a takeover attempt, or to make a takeover attempt prohibitively expensive, and thereby preclude shareholders from realizing a potential premium over the market value of their shares.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">67</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_79></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voting Rights</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Generally, under Bermuda law and our Bye-Laws, questions brought before a general meeting are decided by a simple majority vote of shareholders present or represented by proxy, with no provision for cumulative voting.&nbsp; Matters will be decided by votes cast by way of voting cards, proxy cards or a show of hands unless a poll is demanded.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If a poll is demanded, each shareholder who is entitled to vote and who is present in person or by proxy has one vote for each Common Share entitled to vote on such question.&nbsp; A poll may only be demanded under the Bye-Laws by:</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">the chairman of the meeting;</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">at least three shareholders present in person or represented by proxy;</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">any shareholder or shareholders present in person or represented by proxy and holding between them not less than one-tenth of the total voting rights of all shareholders having voting rights; or</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">a shareholder or shareholders present in person or represented by proxy holding Common Shares conferring the right to vote on which an aggregate sum has been paid up equal to not less than one-tenth of the total sum paid up on all Common Shares.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Unless the Board of Directors otherwise determines, no shareholder shall be entitled to vote at any general meeting unless all calls or other sums presently payable by that shareholder in respect of all shares held by such shareholder have been paid.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend Rights</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, a company may declare and pay dividends unless there are reasonable grounds for believing that the company is, or would, after the payment, be unable to pay its liabilities as they become due or that the realizable value of the company&#8217;s assets would thereby be less than the aggregate of its liabilities and issued share capital and share premium accounts.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under our Bye-Laws, the Board may from time to time declare dividends or distributions out of contributed surplus to be paid to the shareholders according to their rights and interests.&nbsp; With the sanction of a shareholders resolution, the Board of Directors may determine that any dividend may be paid by distribution of specific assets, including paid-up shares or debentures of any other company.&nbsp; The Board of Directors may also pay any fixed cash dividend which is payable on any of our Common Shares half-yearly or on other dates, whenever our position, in the opinion of the Board of Directors, justifies such payment.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Dividends, if any, on our Common Shares will be at the discretion of our Board of Directors, and will depend on our future operations and earnings, capital requirements, surplus and general financial condition as our Board of Directors may deem relevant.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases by the Company of its own Common Shares</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law and as authorized by the Company&#8217;s memorandum of association, we may purchase our own Common Shares out of the capital paid up on the Common Shares in question or out of funds that would otherwise be available for dividend or distribution or out of the proceeds of a fresh issue of Common </FONT>

<a name="page_80"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Shares made for the purposes of the purchase.&nbsp; We may not purchase our shares if, on the date on which the purchase is to be effected, there are reasonable grounds for believing that the Company is, or after the purchase would be, unable to pay its liabilities as they become due.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">68</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_80></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">However, to the extent that any premium is payable on the purchase, the premium must be provided out of the funds of the Company that would otherwise be available for dividend or distribution or out of the Company&#8217;s share premium account.</FONT><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&nbsp;</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preemptive Rights</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our Bye-Laws generally do not provide the holders of our Common Shares preemptive rights in relation to any issues of Common Shares by us or any transfer of our shares.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">However, the Company has in the Shareholders Agreement granted to COF preemptive rights in the event of any issuance of additional equity securities (or securities convertible into or exchangeable for equity securities) by the Company, such that COF may subscribe for additional securities in order to maintain its then percentage ownership interest in the issued and outstanding equity securities of the Company.&nbsp; See the risk factor entitled &#8220;</FONT><U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Obligations under the Amended and Restated Shareholders Agreement</FONT></U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&#8221;&nbsp;&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variation of Rights</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We may issue more than one class of shares and more than one series of shares in each class.&nbsp; The rights attached to any class of shares may be altered or abrogated either:</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">with the consent in writing of the holders of more than fifty percent of the issued shares of that class; or</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">pursuant to a resolution of the holders of such shares.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Bye-Laws provide that the necessary quorum shall be two or more persons present in person or by proxy holding shares of the relevant class.&nbsp; The Bye-Laws specify that the creation or issuance of shares ranking pari passu with existing shares will not, subject to any statement to the contrary in the terms of issuance of those shares or rights attached to those shares, vary the special rights attached to existing shares.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer of Common Shares</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Subject to the &#8220;Transfer Restrictions&#8221; section below, a shareholder may transfer title to all or any of his shares by completing an instrument of transfer in the usual common form or in such other form as the Board of Directors may approve.&nbsp; The form of transfer is required to be signed by or on behalf of the transferor and also the transferee where any share is not fully paid.&nbsp; The transferor shall be deemed to remain the holder of the shares until the name of the transferee is entered in the Register of Members.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer Restrictions</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Board of Directors may, in its absolute discretion and without assigning any reason therefor, decline to register any transfer of any share which is not a fully paid share.&nbsp; The Board of Directors may also refuse to register an instrument of transfer of a share unless the instrument of transfer:</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">is duly stamped, if required by law, and lodged with us;</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">is accompanied by the relevant share certificate and such other evidence of the transferor&#8217;s right to make the transfer as the Board of Directors shall reasonably require;</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">69</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_81></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">is in respect of one class of shares; and</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">has obtained, where applicable, permission of the Bermuda Monetary Authority.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our Common Shares are traded on the NASDAQ Stock Market, Inc. as of April 2011, which qualifies as an &#8220;appointed stock exchange&#8221; for purposes of the Companies Act and the Bermuda Exchange Control Act and regulations made thereunder, in particular a notice to the public dated 1 June 2005. &nbsp;Accordingly, our Common Shares benefit from a general permission for free transferability for all transfers between persons who are not resident in Bermuda for exchange control purposes, for as long as such Common Shares remain listed on an appointed stock exchange.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company, PEWC and COF (as successor-in-interest to SOF), are parties to the Amended and Restated Shareholders Agreement which provides, among other things, for certain transfer restrictions, notice requirements and tag-along rights in the event PEWC wishes to transfer any of its Common Shares in certain types of transactions.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transmission of Shares</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the event of the death of a shareholder, the survivor or survivors, where the deceased shareholder was a joint holder, and the estate representative, where the deceased shareholder was sole holder, shall be the only persons recognized by us as having any title to the shares of the deceased.&nbsp; &#8220;Estate representative&#8221; means the person to whom probate or letters of administration has or have been granted in Bermuda, or failing any such person, such other person as the Board of Directors may in its absolute discretion determine to be the person recognized by us for this purpose.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure of Interests</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under the Companies Act, a director who has an interest in a material contract or a proposed material contract, or a 10% or more interest (directly or indirectly) in an entity that is interested in a contract or proposed contract or arrangement with us, is obligated to declare the nature of such interest at the first opportunity at a meeting of the Board of Directors, or by writing to the Board of Directors.&nbsp; If the director has complied with the relevant sections of the Companies Act and the Bye-Laws with respect to the disclosure of his interest, the director may vote at a meeting of the Board of Directors or a committee thereof on a contract, transaction or arrangement in which that director is interested, in which case his vote shall be counted and he shall be taken into account in ascertaining whether a quorum is present.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights in Liquidation</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, in the event of liquidation or winding-up of a company, after satisfaction in full of all claims of creditors and subject to the preferential rights accorded to any series of preferred stock, the proceeds of such liquidation or winding-up are distributed among the holders of shares in accordance with a company&#8217;s bye-laws.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under our Bye-Laws, if we are wound up, the liquidator may, pursuant to a resolution of the shareholders and any approval required by the Companies Act, divide among the shareholders in cash or other assets the whole or part of our assets, whether such assets shall consist of property of the same kind or not, and may for such purposes set such values as such liquidator deems fair upon any property to be divided and may determine how such division shall be carried out as between the shareholders.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meetings of Shareholders</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, a company, unless it elects to dispense with the holding of annual general meetings, is required to convene at least one general meeting per calendar year.&nbsp; The directors of a company, </FONT>

<a name="page_82"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">notwithstanding anything in such company&#8217;s bye-laws, shall, on the requisition of the shareholders holding at the date of the deposit of the requisition not less than one-tenth of the paid-up capital of the company carrying the right of vote, duly convene a special general meeting.&nbsp; Our Bye-Laws provide that the Board of Directors may, whenever it thinks fit, convene a special general meeting.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">70</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_82></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Bermuda law requires that shareholders be given at least five days&#8217; notice of a meeting of the Company.&nbsp; Our Bye-Laws extend this period to provide that not less than 20 days&#8217; written notice of a general meeting must be given to those shareholders entitled to receive such notice.&nbsp; The accidental omission to give notice to or non-receipt of a notice of a meeting by any person does not invalidate the proceedings of a meeting.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our Bye-Laws state that no business can be transacted at a general meeting unless a quorum of at least two shareholders representing a majority of the issued shares of the Company are present in person or by proxy and entitled to vote.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under our Bye-Laws, notice to any shareholders may be delivered either personally or by sending it through the post, by airmail where applicable, in a pre-paid letter addressed to the shareholder at his address as appearing in the share register or by delivering it to, or leaving it at, such registered address.&nbsp; Any notice sent by post shall be deemed to have been served seven (7) days after dispatch.&nbsp; A notice of a general meeting is deemed to be duly given to the shareholder if it is sent to him by cable, telex or tele-copier or other mode of representing or reproducing words in a legible and non-transitory form and such notice shall be deemed to have been served twenty-four (24) hours after its dispatch.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Access to Books and Records and Dissemination of Information</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, members of the general public have the right to inspect the public documents of a company available at the office of the Bermuda Registrar of Companies.&nbsp; These documents include the memorandum of association and any amendment to the memorandum of association.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, the minutes of shareholder meetings will be open for inspection by any shareholder or director without charge for not less than two hours during business hours each day, subject to any reasonable restrictions that we may impose.&nbsp; The shareholders shall be entitled to receive a copy of every balance sheet and statement of income and expenditure before a general meeting as required under the Bye-Laws.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under our Bye-Laws, unless the Board otherwise determines, the register of shareholders of the Company is required to be open for inspection between 10:00 a.m. and 12:00 noon each working day without charge to members of the general public.&nbsp; A company is required to maintain its share register in Bermuda but may, subject to the provisions of the Companies Act, establish a branch register outside of Bermuda.&nbsp; We have established a branch register with our transfer agent, Computershare Limited, which is based in Jersey City, New Jersey.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda Law, a company is required to keep at its registered office a register of its directors and officers that is open for inspection for not less than two hours in each day by members of the public without charge.&nbsp; Under our Bye-Laws, the register of directors and officers is available for inspection by the public between 10:00 a.m. and 12:00 noon every working day.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Bermuda law does not provide a general right for shareholders to inspect or obtain copies of any other corporate records, except for the Bye-Laws of the Company.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Election or Removal of Directors</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Bye-Laws provide that the number of directors will be such number, not less than two, as our shareholders by resolution may from time to time determine.&nbsp; A director will serve until re-elected or his </FONT>

<a name="page_83"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">successor is appointed at the next annual general meeting or his prior removal in the manner provided by the Companies Act or the Bye-Laws.&nbsp; There is no requirement under Bermuda law, the Company&#8217;s memorandum of association or its Bye-Laws that a majority of the Company&#8217;s directors be independent.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">71</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_83></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Bye-Laws provide that each director shall have one vote on all matters presented to the Board for a vote.&nbsp; At the Annual General Meeting held on November 15, 2013, all nine directors then in office were re-elected.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The shareholders may by resolution determine that one or more vacancies in the Board of Directors shall be deemed casual vacancies for the purposes of the Bye-Laws.&nbsp; The Board, so long as a quorum of directors remains in office, shall have the power at any time and from time to time to appoint any individual to be a director so as to fill a casual vacancy.&nbsp; The shareholders may approve the appointment of alternate directors or may authorize the Board to appoint them.&nbsp; Directors may also appoint and remove their own alternates. At the Annual General Meeting held on November 15, 2013, the shareholders approved the reservation of one directorship as a casual vacancy.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We may, in a special general meeting called for this purpose, remove a director, provided notice of such meeting is served upon the director concerned not less than fourteen days before the meeting and he shall be entitled to be heard at that meeting.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The office of a director will be vacated in the event of any of the following:</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">if he resigns his office by notice in writing to be delivered to our registered office or tendered at a meeting of the Board of Directors;</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">if he becomes of unsound mind or a patient for any purpose under any statute or applicable law relating to mental health and the Board of Directors resolves that his office is vacated;</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">if he becomes bankrupt or enters into a general settlement with his creditors;</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">if he is prohibited by law from being a director; or</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">if he ceases to be a director by virtue of the Companies Act or is removed from office pursuant to the Bye-Laws.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendment of Memorandum of Association and Bye-Laws</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Bermuda law provides that the memorandum of association of a company may be amended by resolution passed at a general meeting of which due notice has been given.&nbsp; An amendment to a memorandum of association does not require the consent of the Minister of Finance save for specific circumstances, for example, the adopting of any authority to carry on restricted business activities.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, the holders of:</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">an aggregate of not less than twenty percent in par value of a company&#8217;s issued share capital or any class thereof; or</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">not less in the aggregate than twenty percent of the company&#8217;s debentures entitled to object to amendments to its memorandum of association,</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">have the right to apply to the Supreme Court of Bermuda for an annulment of any amendment of the memorandum of association.&nbsp; Where such an application is made, the amendment becomes effective only to the extent that it is confirmed by the Bermuda Supreme Court.&nbsp; An </FONT>

<a name="page_84"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">application for an annulment of an amendment of the memorandum of association must be made within twenty-one days after the date on which the resolution amending the memorandum of association is passed and may be made on behalf of the persons entitled to make the application by one or more of their number as they may appoint in writing for the purpose.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">72</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_84></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our Bye-Laws may be amended in the manner provided for in the Companies Act, which provides that the directors may amend the Bye-Laws, provided that any such amendment shall be effective only to the extent approved by the shareholders.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merger or Amalgamation</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Companies Act provides that two or more Bermuda companies may merge and their undertaking, property and liabilities shall vest in one of such companies as the surviving company (referred to as a &#8220;merger&#8221; under Bermuda law). &nbsp;The Companies Act also provides that a Bermuda company may amalgamate with another company and continue as an amalgamated company (referred to as an &#8220;amalgamation&#8221; under Bermuda law). &nbsp;A merger or amalgamation requires a merger or amalgamation agreement which must be approved by the board of directors and at a meeting of the shareholders by seventy-five percent of the shareholders present and entitled to vote at such meeting in respect of which the quorum shall be two persons holding or representing by proxy more than one-third of the issued shares of the company.&nbsp; These provisions do not apply where a holding company is merging or amalgamating with one or more of its wholly-owned subsidiaries or where two or more wholly-owned companies of the same holding company are merging or amalgamating.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under Bermuda law, in the event of a merger or an amalgamation of a Bermuda company, a shareholder who did not vote in favor of the transaction and who is not satisfied that fair value has been offered for the shares, may apply to the Supreme Court of Bermuda within one month of notice of the meeting of shareholders to appraise the fair value of those shares.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class Actions and Derivative Actions</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Class actions, as they are commonly understood in the United States, are not available to shareholders under Bermuda law.&nbsp; Derivative actions are generally only available to shareholders under Bermuda law in very limited circumstances.&nbsp; A shareholder may commence an action in the name of a company to remedy a wrong done to the company where the wrongdoers are in control of the company and the act complained of is of a fraudulent character, oppressive, beyond the corporate power of the company, illegal or would have required the approval of a greater percentage of the company&#8217;s shareholders than those that actually approved it.&nbsp; A shareholder may not commence such an action where the wrong complained of is capable of ratification by the company in a general meeting by ordinary resolution.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">When one or more shareholders believes the affairs of a company are being conducted in a manner which is oppressive or prejudicial to the interest of some of the shareholders, the Supreme Court of Bermuda, upon petition, may make such order as it sees fit, including an order regulating the conduct of the company&#8217;s affairs in the future or ordering the purchase of the shares of any shareholders by other shareholders or by the company, and in the case of a purchase of the shares by the company, for the reduction accordingly of the company&#8217;s capital or otherwise.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personal Liability of Directors and Indemnity</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Companies Act requires every officer, including directors, of a company in exercising powers and discharging duties, to act honestly in good faith with a view to the best interests of the company, and to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.&nbsp; The Companies Act further provides that any provision, whether in the bye-laws of a company or in any contract between the company and any officer or any person employed by the company as </FONT>

<a name="page_85"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">auditor, exempting such officer or person from liability, or indemnifying him against any liability which by virtue of any rule of law would otherwise attach to him, in respect of any fraud or dishonesty of which he may be guilty in relation to the company, shall be void.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">73</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_85></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Every director, officer and committee member shall be indemnified out of our funds against all civil liabilities, loss, damage or expense including liabilities under contract, tort and statute or any applicable foreign law or regulation and all reasonable legal and other costs and expenses properly payable, incurred or suffered by him as director, officer or committee member; provided that the indemnity contained in the Bye-Laws will not extend to any matter which would render it void under the Companies Act as discussed above.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 29.5pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.2.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange Controls</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We have been designated by the Bermuda Monetary Authority as a non-resident under the Exchange Control Act of 1972 (the &#8220;Exchange Control Act&#8221;).&nbsp; This designation allows us to engage in transactions in currencies other than the Bermuda dollar.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The transfer of Common Shares between persons regarded as resident outside Bermuda for exchange control purposes and the issue of Common Shares to such persons may be effected without specific consent under the Exchange Control Act and regulations thereunder, provided the Common Shares are listed on an appointed stock exchange.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Notwithstanding the recording of any special capacity, we are not bound to investigate or incur any responsibility in respect of the proper administration of any estate or trust.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We will take no notice of any trust applicable to any of our Common Shares whether or not we had notice of such trust.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As an &#8220;exempted company,&#8221; we are exempt from Bermuda laws which restrict the percentage of share capital that may be held by non-Bermudians.&nbsp; However, as an exempted company we may not participate in certain designated business transactions, which we do not consider relevant to our present or planned business activities.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.3&nbsp;&nbsp;&nbsp; Material Contracts</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Composite Services Agreement (&#8220;CSA&#8221;)</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company engages in transactions in the ordinary course of business with PEWC, including the purchase of certain raw materials and the distribution of PEWC products in various countries in the Asia Pacific region.&nbsp; The Company and PEWC are parties to a composite services agreement dated November 7, 1996 (the &#8220;Composite Services Agreement&#8221; or &#8220;CSA&#8221;), which the Company has renewed annually, at its option.&nbsp; The Composite Services Agreement contains provisions that define the relationship and the conduct of the respective businesses of the Company and PEWC and confers certain preferential benefits on the Company.&nbsp; In 2013 there were no material changes to the CSA between APWC and PEWC.&nbsp; Pursuant to the Composite Services Agreement,</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PEWC agrees to (a)&nbsp;sell copper rod to the Company, upon the Company&#8217;s request, (i)&nbsp;at a price consisting of the spot price of copper on the LME plus an agreed upon premium and (ii)&nbsp;at prices and on terms at least as favorable as PEWC provides copper rod to other purchasers of similar amounts of copper rod in the same markets, and (b)&nbsp;give priority in the supply of copper rod to the Company over other purchasers of copper rod from PEWC.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">74</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_86></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has the right to distribute any wire or cable product manufactured by PEWC in all markets in which the Company presently distributes or develops the capability to distribute in the future such products on such terms as have historically been in effect or on terms at least as favorable as PEWC grants to third parties that distribute such products in such markets.&nbsp; However, PEWC is not required to grant to the Company the right to distribute products manufactured by PEWC in the future in markets where the Company does not currently have the capability to distribute unless and until PEWC has no pre-existing contractual rights which would conflict with the grant of such right to the Company.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Each of PEWC and the Company will notify the other party prior to entering into any negotiations with a third party concerning the establishment of any facility or similar venture to manufacture or distribute any wire or cable product outside of the markets where the Company currently manufactures or distributes, or intends to develop the capability to manufacture or distribute, any wire or cable product.&nbsp; Unless the Company and PEWC mutually agree otherwise, the Company has the right of first refusal to enter into any definitive agreement with such third party.&nbsp; If, however, such third party would not agree to the substitution of the Company for PEWC or such substitution would prevent the successful completion of the facility or venture, PEWC has agreed to arrange for the Company to participate to the extent possible.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">PEWC agrees to make available to the Company, upon the Company&#8217;s request and on terms to be mutually agreed between PEWC and the Company from time to time, certain services with respect to the design and manufacture of wire and cable products, computerization, inventory control, purchasing, internal auditing, quality control, emergency back-up services, and recruitment and training of personnel; such services may include the training of the Company&#8217;s employees and managers at PEWC facilities and the secondment of PEWC employees and managers to the Company.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Without the consent of the Company, PEWC will not compete with respect to the manufacture or distribution of wire and cable products in any market in which the Company is manufacturing or has taken significant steps to commence manufacturing.</FONT></P>
<P style="TEXT-INDENT: -28.2pt; MARGIN: 0cm 0cm 12pt 64.2pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">&#8226;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For purposes of the Composite Services Agreement, each province in China is considered the equivalent of a country.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">To the extent that transactions occur in the future between the Company and PEWC or affiliates of PEWC other than under the Composite Services Agreement, such transactions will be entered into on an arm&#8217;s length basis on terms no less favorable than those available from unaffiliated third parties.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Amended and Restated Shareholders Agreement</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In connection with the 2007 acquisition by SOF of twenty percent (20%) of the Company&#8217;s issued and outstanding Common Shares, the Company, PEWC and SOF entered into Shareholders Agreement, pursuant to which the Company granted to SOF certain rights and protections.&nbsp; Under the Shareholders Agreement, the Company agreed to indemnify the SOF Indemnified Persons (as defined in the Shareholders Agreement) for any additional taxes, interest, penalties and other costs that might be imposed upon or incurred by the SOF Indemnified Persons in the event that the Company is determined by the IRS to be a &#8220;controlled foreign corporation&#8221; (a &#8220;CFC&#8221;) or a &#8220;passive foreign investment company&#8221; (a &#8220;PFIC&#8221;) as such terms are interpreted and defined under IRS rules or regulations.&nbsp; In addition, under the Shareholders Agreement, the Company granted to SOF certain registration rights with respect to the Common Shares owned by it, including the undertaking by the Company to prepare and file a shelf registration statement, and the further right of SOF to exercise two demand registration rights with regard to its Common Shares and to further exercise certain piggyback registration rights in connection with its Common Shares.&nbsp; The Shareholders Agreement was </FONT>

<a name="page_87"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">amended and restated on March 27, 2009 in connection with the sale by SOF to PEWC of 51% of the Common Shares held by SOF.&nbsp; However, the foregoing rights of SOF have been preserved in the Amended and Restated Shareholders Agreement notwithstanding its sale of 51% of its original interest in APWC.&nbsp; As of July 1, 2011, COF succeeded to all of the right, title and interest in the Common Shares then held by SOF. &nbsp;Each of the rights of SOF under the Shareholders Agreement was conveyed to, and is now held by, COF.&nbsp; For a further description of the Company&#8217;s obligations under the Shareholders Agreement, see the risk factor entitled &#8220;</FONT><U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Obligations under Amended and Restated Shareholders Agreement</FONT></U><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&#8221;&nbsp;</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">75</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_87></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.4&nbsp;&nbsp;&nbsp; Taxation</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following is a summary of the material tax consequences of the acquisition, ownership and disposition of Common Shares based on the tax laws of the United States and Bermuda, subject to the assumptions, qualifications and limitations in our discussion below.&nbsp; Such summary is subject to changes in United States and Bermuda law, including changes that could have retroactive effect.&nbsp; The following summary does not take into account the individual circumstances of an investor, nor does it purport to be a complete technical analysis or examination of all potential tax effects relevant to a decision to purchase Common Shares, including without limitation, the tax laws of the various states or localities within the United States.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt 12.95pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Taxation</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The following is a summary of the material United States federal income tax consequences of the acquisition, ownership and disposition of Common Shares by a U.S. Holder (as defined below) and a Non-U.S. Holder (as defined below), in each case, subject to the assumptions, qualifications and limitations in our discussion below.&nbsp; Such summary is subject to changes in United States law, including changes that could have retroactive effect.&nbsp; The summary does not purport to be a comprehensive description of all possible tax considerations that may be relevant to a decision to purchase Common Shares.&nbsp; This summary is based upon the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;), regulations promulgated under the Code by the U.S. Treasury Department (the &#8220;Treasury&#8221;) (including proposed and temporary regulations), rulings, current administrative interpretations and official pronouncements of the IRS, and judicial decisions, all as currently in effect and all of which are subject to differing interpretations or to change, possibly with retroactive effect.&nbsp; Such change could materially and adversely affect the tax consequences described below.&nbsp; No assurance can be given that the IRS would not assert, or that a court would not sustain, a position contrary to any of the tax consequences described below.&nbsp; Further, this summary does not discuss any foreign, state or local tax consequences.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In particular, this summary deals only with Common Shares held as capital assets and does not address the United States tax treatment of U.S. Holders and Non-U.S. Holders that are subject to special treatment under the Code, such as dealers in stocks, securities, or currencies, traders in securities that elect to use a mark-to-market method of accounting for their securities holdings, financial institutions, insurance companies, tax-exempt entities, real estate investment trusts, regulated investment companies, qualified retirement plans, individual retirement accounts, and other tax deferred accounts, expatriates of the United States, persons subject to the alternative minimum tax, persons holding shares as part of a hedging or conversion transaction or a straddle, or other integrated transaction, persons who acquired Common Shares pursuant to the exercise of any employee stock option or otherwise as compensation for services, or persons whose functional currency is not the United States dollar or who own (directly, indirectly or by attribution) 10% or more of the stock of the Company.&nbsp; This discussion is limited to investors who hold their shares as capital assets.&nbsp; No ruling has been or will be sought from the IRS regarding any matter discussed herein.&nbsp; Counsel to the Company has not rendered any legal opinion regarding any tax consequences to the Company or others of an investment in the Company.&nbsp; Consequently, prospective purchasers who are U.S. Holders or Non-U.S. Holders are advised to satisfy themselves as to the overall United States federal, state, local and foreign tax consequences of their acquisition, ownership and disposition of Common Shares by consulting their own tax advisors.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">76</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_88></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As used herein, the term &#8220;U.S. Holder&#8221; means a beneficial owner of Common Shares that is (i)&nbsp;a citizen or resident of the United States, (ii)&nbsp;a corporation (including any entity treated as a corporation for U.S. federal income tax purposes) created or organized in the United States or under the laws of the United States or any state (or the District of Columbia), (iii)&nbsp;an estate, the income of which is subject to United States federal income tax regardless of its source, or (iv)&nbsp;a trust, if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more &#8220;United States persons&#8221; (as defined in Section 7701(a)(30) of the Code) has the authority to control all substantial decisions of the trust, or, to the extent provided in the Regulations, certain trusts in existence on August 20, 1996, and treated as U.S. Persons prior to such date, that elect to be treated as U.S. Persons.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The term &#8220;Non-U.S. Holder&#8221; means a beneficial owner of Common Shares that is not a U.S. Holder.&nbsp; As described in &#8220;Taxation of Non-U.S. Holders&#8221; below, the consequences to a Non-U.S. Holder may differ substantially from the tax consequences to a U.S. Holder.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If a partnership (including for this purpose any entity treated as a partnership for U.S. federal income tax purposes) is a beneficial owner of Common Shares, the U.S. federal income tax consequences to a partner in the partnership will generally depend on the status of the partner and the activities of the partnership.&nbsp; A holder of Common Shares that is a partnership and the partners in such partnership should consult their own tax advisors regarding the U.S. federal income tax consequences of the ownership and disposition of Common Shares.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">U.S. Federal Income Taxation of the Company</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company expects that it will be treated as a foreign corporation for U.S. federal income tax purposes, and it will make no election to the contrary.&nbsp; As a foreign corporation, subject to the rules discussed below, the income, gains, losses, deductions and expenses of the Company will not be passed through to the investors, and all distributions by the Company to the investors will be treated as dividends, return of capital, and/or capital gains.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company currently does not conduct activities in the United States and expects that it will continue to conduct activities in a manner so as not to constitute the conduct of a trade or business in the United States or, invest in securities the income from which is treated, for U.S. federal income tax purposes, as arising from a U.S. trade or business.&nbsp; As a result, the income of the Company generally should not be subject to U.S. federal income tax on a net income basis.&nbsp; However, gains realized from certain investments in United States real property interests by foreign persons, such as the Company, may be subject to U.S. federal income tax on a net basis, withholding tax and a branch profits tax.&nbsp; Debt instruments with an equity component linked to a United States real property interest and stock in certain United States corporations holding significant real property interests may be considered United States real property interests taxable as described above.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxation of U.S. Holders</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The discussion in &#8220;Taxation of Dividends&#8221; and &#8220;Taxation of Capital Gains&#8221; below assumes that the Company will not be treated as a PFIC for U.S. federal income tax purposes.&nbsp; For a discussion of the rules that apply if the Company is treated as a PFIC, see the discussion in &#8220;Passive Foreign Investment Company&#8221; below.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxation of Dividends</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has never declared or paid any cash dividends and does not presently anticipate paying dividends.&nbsp; A U.S. Holder receiving a distribution with respect to Common Shares generally will be required to include such distribution in gross income (as ordinary income subject to regular, and not reduced, tax rates) on the day received as foreign-source dividend income to the extent such distribution is paid from the Company&#8217;s current or accumulated earnings and profits (as determined under United States federal income tax </FONT>

<a name="page_89"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">principles).&nbsp; Such dividends will not be eligible for the dividends received deduction (generally allowed to certain United States corporations in respect of dividends received from United States corporations).&nbsp; U.S. Holders that are corporations and directly own 10% or more of the voting stock of the Company may be entitled to claim a foreign tax credit for United States federal income tax purposes in respect of foreign taxes paid by the Company and certain subsidiaries. &nbsp;However, if a U.S. Holder claims the foreign tax credit, it must &#8220;gross-up&#8221; the deemed tax payment and treat the grossed-up amount as part of the dividend distribution, so that the amount included in income is equal to the dividend received plus the amount of the foreign tax deemed paid by such U.S. Holder.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">77</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_89></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under U.S. federal income tax laws, a dividend paid to an individual U.S. shareholder from either a domestic corporation or a &#8220;qualified foreign corporation&#8221; is subject to tax at the reduced rates applicable to certain capital gains.&nbsp; A qualified foreign corporation includes certain foreign corporations that are eligible for benefits of a comprehensive income tax treaty with the United States which the Secretary of the Treasury determines is satisfactory for purposes of this provision and which includes an exchange of information program.&nbsp; In addition, a foreign corporation not otherwise treated as a qualified foreign corporation is so treated with respect to any dividend it pays if the stock with respect to which it pays such dividend is readily tradable on an established securities market in the United States.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the absence of a comprehensive income tax treaty between the United States and Bermuda, the Company will not be treated as a &#8220;qualified foreign corporation&#8221; under the treaty test.&nbsp; So long as the Company is not a PFIC (as discussed below), dividends paid by the Company to individual shareholders would qualify for these reduced rates if its stock was treated as readily tradable on an established securities market in the United States.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In Notice 2003-71, 2003-2 C.B. 922, the IRS determined that common or ordinary stock, or an American depositary receipt in respect of such stock, is considered readily tradable on an established securities market in the United States if it is listed on a national securities exchange that is registered under Section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f) or on the Nasdaq Stock Market.&nbsp; As stated in the SEC&#8217;s Annual Report for 2002, registered national exchanges as of September 30, 2002 include the American Stock Exchange (now known as NYSE Amex Equities), the Boston Stock Exchange, the Cincinnati Stock Exchange, the Chicago Stock Exchange, the NYSE, the Philadelphia Stock Exchange, and the Pacific Exchange, Inc.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">For so long as the Common Shares continue to be traded on NASDAQ, or are readily tradable on any other established securities market in the United States, any dividends paid by the Company should qualify for the reduced rates referred to above so long as they remain in effect.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">To the extent any distribution exceeds the current and accumulated earnings and profits of the Company for a taxable year, the distribution will be treated as a non-taxable return of capital to the extent of the U.S. Holder&#8217;s adjusted tax basis in the Common Shares with respect to which the distribution is made, causing a reduction in the adjusted basis of the Common Shares (thereby increasing the amount of gain, or decreasing the amount of loss, to be recognized by the U.S. Holder on a subsequent disposition of the Common Shares).&nbsp; To the extent such distribution exceeds the U.S. Holder&#8217;s adjusted tax basis in the Common Shares, such excess will be treated as capital gain.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxation of Capital Gains</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A U.S. Holder will recognize taxable gain or loss on any sale, exchange or other disposition of Common Shares (including a liquidation, dissolution or as a result of a non-pro rata redemption of Common Shares that qualified for treatment as a sale or exchange for United States federal income tax purposes) in an amount equal to the difference between the amount realized for the Common Shares and the U.S. Holder&#8217;s adjusted tax basis in the Common Shares.&nbsp; Such gain or loss generally will be treated as capital gain or loss and will be long-term capital gain or loss if the Common Shares have been held for more than one year on the date of the sale, exchange or other disposition thereof, and will be short-term capital gain or loss if the Common Shares </FONT>

<a name="page_90"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">have been held for one year or less on the date of the sale or exchange thereof.&nbsp; Any gain recognized by a U.S. Holder generally will be treated as United States source income.&nbsp; In general, an individual&#8217;s short-term capital gains are taxable as ordinary income and an individual&#8217;s long-term capital gains are subject to U.S. federal income tax at preferential rates.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">78</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_90></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Long-term capital gains of corporations generally are subject to the U.S. federal income tax at a current maximum marginal rate of 35%.&nbsp; Short-term capital gain generally is taxable at ordinary income rates.&nbsp; Although capital gains of corporations currently are taxed at the same rates as ordinary income, the distinction between capital gain and ordinary income or loss is relevant for purposes of, among other things, limitations on the deductibility of capital losses.&nbsp; Corporations may deduct capital losses only to the extent of capital gains and generally may carry back capital losses to each of the preceding three years and carry forward capital losses to each of the succeeding five years.&nbsp; Individuals may deduct capital losses to the extent of capital gains plus up to $3,000 ($1,500 for married individuals filing separate returns) and may carry forward capital losses indefinitely.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Backup Withholding</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In general, information reporting requirements may be applicable to dividend payments (or other taxable distributions) made in respect of Common Shares to non-corporate U.S. Holders, and &#8220;backup withholding&#8221; at the rate of 28% will apply to such payments (i)&nbsp;if the holder or beneficial owner fails to provide a taxpayer identification number in the manner required by U.S. law and applicable regulations, (ii)&nbsp;if the IRS notifies the payor that the taxpayer identification number furnished by the holder or beneficial owner is incorrect, (iii)&nbsp;if there has been notification from the IRS of a failure by the holder or beneficial owner to report all interest or dividends required to be shown on its United States federal income tax returns or (iv)&nbsp;in certain circumstances, if the holder or beneficial owner fails to comply with applicable certification requirements.&nbsp; In general, payment of the proceeds from a sale of Common Shares to or through a United States office of a broker is subject to both United States backup withholding and information reporting unless the holder or beneficial owner establishes an exemption.&nbsp; U.S. Holders who are required to establish their exempt status generally must provide such certification on IRS Form W-9.&nbsp; Amounts withheld under the backup withholding rules may be credited against a holder&#8217;s tax liability, and a holder may obtain a refund of any excess amounts withheld under the backup withholding rules by timely filing the appropriate claim for refund with the IRS.&nbsp; Payment of the proceeds from the sale of Common Shares effected outside the United States by a foreign office of certain United States connected brokers will not be subject to backup withholding tax but will be subject to information reporting requirements unless the broker has documentary evidence in its records that the beneficial owner is a non-U.S. Holder and has no actual knowledge to the contrary, or the beneficial owner otherwise establishes an exemption.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Passive Foreign Investment Company</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In general, the Company will be treated as a PFIC for United States federal income tax purposes for any taxable year if either (i)&nbsp;at least 75% of the gross income of the Company is passive income or (ii)&nbsp;at least 50% of the value (determined on the basis of a quarterly average) of the Company&#8217;s assets is attributable to assets that produce or are held for the production of passive income.&nbsp; The Company believes, based on its current operations and assets, that it is not a PFIC and does not expect to become a PFIC in the future.&nbsp; This conclusion is a factual determination based on, among other things, a valuation of the Company&#8217;s assets, which will likely change from time to time.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If the Company were a PFIC for any taxable year during which a U.S. Holder held Common Shares, the U.S. Holder would be subject to special tax rules with respect to (i)&nbsp;any &#8220;excess distribution&#8221; by the Company to the U.S. Holder (generally any distribution received by the U.S. Holder in a taxable year that is greater than 125% of the average annual distribution received by the U.S. Holder in the three preceding taxable years, or the U.S. Holder&#8217;s holding period for the Common Shares, if shorter) and (ii)&nbsp;any gain realized on the sale or other disposition (including a pledge) of Common Shares.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">79</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_91></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under these special tax rules, (i)&nbsp;the excess distribution or gain would be allocated ratably over the U.S. Holder&#8217;s holding period for the Common Shares, (ii)&nbsp;the amount allocated to the U.S. Holder&#8217;s current taxable year and to any period prior to the first taxable year in which the Company was a PFIC would be includible as ordinary income in the U.S. Holder&#8217;s current taxable year and (iii)&nbsp;the amount allocated to a prior year during which the Company was a PFIC would be subject to tax at the highest tax rate in effect for that year, and an interest charge would also be imposed with respect to the resulting tax attributable to each such prior year.&nbsp; The interest charge is computed using the applicable rates imposed on underpayments of United States federal income tax for the relevant periods.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The above rules will not apply if a &#8220;mark-to-market&#8221; election is available and a U.S. Holder validly makes such an election by filing a properly completed IRS Form 8621.&nbsp; If such election were made, a U.S. Holder generally would be required to take into account the difference, if any, between the fair market value and its adjusted tax basis in the Common Shares at the end of each taxable year as ordinary income or ordinary loss (to the extent of any net mark-to-market gains previously included in income). &nbsp;Thus, the U.S. Holder may recognize taxable income without receiving any cash to pay its tax liability with respect to such income.&nbsp; A U.S. Holder&#8217;s tax basis in the Common Shares would be adjusted to reflect any such income or loss amount.&nbsp; In addition, any gain from a sale, exchange or other disposition of the Common Shares would be treated as ordinary income, and any loss would be treated as ordinary loss (to the extent of any net mark-to-market gains previously included in income).&nbsp; A mark-to-market election is available to a U.S. Holder only if the Common Shares are considered &#8220;marketable stock&#8221; for these purposes.&nbsp; Generally, shares of a PFIC will be considered marketable stock if they are &#8220;regularly traded&#8221; on a &#8220;qualified exchange&#8221; within the meaning of applicable U.S. Treasury regulations.&nbsp; A class of shares is regularly traded during any calendar year during which such class of shares is traded, other than in de minimis quantities, on at least 15 days during each calendar quarter.&nbsp; A &#8220;qualified exchange&#8221; is defined to include a national securities exchange registered with the SEC or certain foreign exchanges.&nbsp; As the Common Shares of the Company commenced trading on the NASDAQ beginning on April 29, 2011, the mark-to-market election under the rules discussed above is available if the Company were otherwise classified as a PFIC, for so long as the Common Shares continue to be regularly traded on NASDAQ or another qualified exchange.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The special tax rules described above will also not apply to a U.S. Holder if the U.S. Holder elects to have the Company treated as a &#8220;qualified electing fund&#8221; (a &#8220;QEF election&#8221;) and the Company provides certain information to U.S. Holders.&nbsp; If the Company is treated as a PFIC, it will notify the U.S. Holders and provide such holders with the information necessary to make an effective QEF election, including information as to the procedures for making such an election.&nbsp; The QEF election is made on a shareholder-by-shareholder basis and can ordinarily be revoked only with the consent of the IRS.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A U.S. Holder that makes a valid QEF election will be currently taxable on its pro rata share of the Company&#8217;s ordinary earnings and net capital gain (at ordinary income and capital gains rates, respectively) for each taxable year that the Company is classified as a PFIC, regardless of whether distributions are received.&nbsp; Thus, the U.S. Holder may recognize taxable income without receiving any cash to pay its tax liability with respect to such income.&nbsp; The U.S. Holder&#8217;s basis in the Common Shares will be increased to reflect taxed but undistributed income.&nbsp; Distributions of income that have been previously taxed will result in a corresponding reduction of basis in the Common Shares and will not be taxed again as a distribution to the U.S. Holder.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A U.S. Holder owning Common Shares during any year that the Company is a PFIC must file IRS Form 8621.&nbsp; U.S. Holders should consult their tax advisors concerning the United States federal income tax consequences of holding Common Shares and of making a mark-to-market or QEF election if the Company is treated as a PFIC in the future.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Controlled Foreign Corporation</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">A non-U.S. corporation generally will be a CFC for U.S. tax purposes if United States shareholders collectively own more than 50 percent of the total combined voting power or total value of the corporation&#8217;s </FONT>

<a name="page_92"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">stock on any day during any taxable year.&nbsp; For this purpose, United States shareholders are limited to those U.S. persons who own, directly, indirectly or constructively, 10 percent or more of the total combined voting power of all classes of stock of the non-U.S. corporation.&nbsp; If a corporation is a CFC for an uninterrupted period of 30-days in any tax year, every United States shareholder that owns stock on the last day of the CFC&#8217;s tax year, must include in gross income such shareholder&#8217;s pro rata share of the CFC&#8217;s &#8220;subpart F income&#8221; and income from investments in certain types of U.S. property (</FONT><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">i.e.</FONT></I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, tangible personal property located in the United States, stock of a United States corporation, an obligation of a United States person, or a right to use patents, copyrights, and other similar property in the United States) even if the income has not been distributed to the shareholders in the form of dividends or otherwise.&nbsp; Subpart F income consists of certain specified categories of income including, among others, dividends, interest, rents, royalties, net gains from the sale of property giving rise to such income and income from certain types of transactions involving &#8220;related persons&#8221; as defined for U.S. federal income tax purposes.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">80</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_92></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxation of Non-U.S. Holders</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxation of Dividends</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Subject to the discussion in &#8220;Backup Withholding&#8221; below, Non-U.S. Holders generally will not be subject to U.S. federal income tax, including withholding tax, on distributions received on Common Shares, unless the distributions are effectively connected with a trade or business conducted in the United States (and, if an applicable income tax treaty so requires, attributable to a permanent establishment maintained in the United States).</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">If distributions are effectively connected with a U.S. trade or business (and, if applicable, attributable to a U.S. permanent establishment), Non-U.S. Holders generally will be subject to tax on such distributions in the same manner as U.S. Holders, as described in &#8220;Taxation of U.S. Holders &#8212; Taxation of Dividends&#8221; above.&nbsp; In addition, any such distributions received by a corporate Non-U.S. Holder may also, under certain circumstances, be subject to an additional &#8220;branch profits tax&#8221; at a 30% rate or such lower rate as may be specified by an applicable income tax treaty.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Taxation of Capital Gains</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Gain realized by Non-U.S. Holders upon the sale or exchange or complete redemption of Common Shares held as a capital asset generally should not be subject to United States federal income tax provided that the gain is not effectively connected with a trade or business conducted in the United States (and, if an applicable tax treaty so requires, attributable to a permanent establishment maintained in the United States).&nbsp; However, in the case of nonresident alien individuals, such gain will be subject to the 30% (or lower tax treaty rate) U.S. flat tax if (i)&nbsp;such person is present in the United States for 183 days or more during the taxable year (on a calendar year basis unless the nonresident alien individual has previously established a different taxable year) and certain other conditions are met; and (ii)&nbsp;such gain is derived from U.S. sources.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Generally, the source of gain upon the sale or exchange or complete redemption of Common Shares is determined by the place of residence of the shareholder.&nbsp; For purposes of determining the source of gain, the Code defines residency in a manner that may result in an individual who is otherwise a nonresident alien with respect to the United States being treated as a United States resident for purposes of determining the source of income only.&nbsp; Each potential individual investor who anticipates being present in the United States for 183 days or more (in any taxable year) should consult a separate, outside tax advisor with respect to the possible application of this rule.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Special rules may apply in the case of shareholders (i)&nbsp;that have an office or fixed place of business in the United States to which a distribution or gain in respect of the Common Shares is attributable; or (ii)&nbsp;that are former citizens or residents of the United States, CFCs, foreign personal holding companies or corporations </FONT>

<a name="page_93"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">that accumulate earnings to avoid United States federal income tax.&nbsp; Such persons in particular are urged to consult their United States tax advisors before investing in the Company.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">81</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_93></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Backup Withholding</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the case of Common Shares held by a Non-U.S. Holder, or held in the United States by a custodian or nominee for a Non-U.S. Holder, U.S. back-up withholding taxes may apply to distributions in respect of such Common Shares unless such Non-U.S. Holder properly certifies as to its non-U.S. status using IRS Form W-8.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Backup withholding is not an additional tax.&nbsp; Amounts withheld as backup withholding from a payment to a Non-U.S. Holder may be credited against his U.S. federal income tax liability and a Non-U.S. Holder may obtain a refund of any excess amounts withheld by filing the appropriate claim for refund with the IRS and furnishing any required information in a timely manner.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Future Tax Legislation</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Future amendments to the Code, other legislation, new or amended U. S. Treasury Regulations, administrative rulings or guidance by the IRS, or judicial decisions may adversely affect the federal income tax aspects of an investment in the Company, with or without advance notice, and retroactively or prospectively.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">U.S. Treasury Circular 230 Notice</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Any United States federal tax advice included in this Annual Report (a)&nbsp;was not intended to be used, and cannot be used, for the purpose of avoiding United States federal tax penalties, and (b)&nbsp;was not written to support the promotion or marketing of the Company, its Common Shares or any transaction(s) or matter(s) addressed in the written advice.&nbsp; The taxpayer should seek advice based upon the taxpayer&#8217;s particular circumstances from an independent tax adviser.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 36pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bermuda Taxation</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In the opinion of Appleby, the following discussion correctly describes the material tax consequences of the ownership of Common Shares under Bermuda law, subject to the assumptions, qualifications and limitations in the discussion below.&nbsp; Such summary is subject to changes in Bermuda law, including changes that could have retroactive effect.</FONT></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Under current Bermuda law, there are no taxes on profits, income or dividends nor is there any capital gains tax.&nbsp; Furthermore, the Company has received from the Minister of Finance of Bermuda under the Exempted Undertakings Tax Protection Act of 1966, as amended, an undertaking that, in the event that Bermuda enacts any legislation imposing tax computed on profits or income, or computed on any capital asset, gain or appreciation, or any tax in the nature of estate duty or inheritance tax, then the imposition of any such tax shall not be applicable to the Company or to any of its operations, or the shares, debentures or other obligations of the Company, until March 31, 2035.&nbsp; This undertaking does not, however, prevent the imposition of any such tax or duty on such persons as are ordinarily resident in Bermuda and holding such shares, debentures or obligations of the Company or of property taxes on Company-owned real property or leasehold interests in Bermuda.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As an exempted company, the Company must pay to the Bermuda government an annual government fee calculated on a sliding-scale basis by reference to its assessable capital, that is, its authorized share capital plus any share premium.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">There is no stamp duty or other transfer tax payable upon the transfer of shares in the Company by shareholders.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">82</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_94></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The United States does not have a comprehensive income tax treaty with Bermuda.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">10.5&nbsp;&nbsp;&nbsp; Documents on Display</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">We are required to comply with the reporting requirements of the Exchange Act, applicable to a foreign private issuer.&nbsp; We are currently required to file annually a Form 20-F no later than four months after the close of our fiscal year, which is December 31.&nbsp; Any time the Company is delinquent in filing timely any periodic reports, including an Annual Report on Form 20</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="cambria math">-</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">F, with the SEC, that delinquency may adversely affect the Company&#8217;s status on any exchange or quotation service on which its shares are listed or quoted and the Company may not be entitled to use certain abbreviated registration statements with the SEC in connection with the registration of any of its securities.</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp; We have not been delinquent in filing our annual reports in any of the past five years.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As a foreign private issuer, we are exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions contained in Section 16 of the Exchange Act.</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Our reports and other information, when so filed, may be inspected and copied (at prescribed rates) at the public reference facilities maintained by the SEC at Judiciary Plaza, 100 F Street, N.E., Washington D.C. 20549.&nbsp; Please call the SEC at 1-800-SEC-0330 for further information.&nbsp; In addition, the SEC maintains a web site that contains information filed electronically with the SEC, which can be accessed over the Internet at </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">http://www.sec.gov</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp; We have filed all our reports electronically since November 4, 2002.&nbsp; Such reports can be accessed over the Internet at </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">http://www.sec.gov</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp;</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In addition, we post certain information regarding the Company and its operations on our website located at </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">www.apwcc.com</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp; Summary information regarding the Company posted on our website should not be considered to be a substitute for, or a restatement of, the more complete information regarding the Company, its results of operations and financial condition set forth in this Annual Report or other documents or information which we may file with the SEC.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 11:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quantitative and Qualitative Disclosures About Market Risks</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has exposure to several quantitative market risks, including fluctuations in interest rates, foreign currency exchange rates and the pricing of commodities, principally copper, the Company&#8217;s main raw material.&nbsp; Risk management measures undertaken by the Company include entering into derivative agreements covering foreign exchange rates and copper pricing, as well as copper forward pricing agreements.&nbsp; The Company does not purchase or sell derivative instruments for trading purposes.&nbsp; The Company does not engage in trading activities involving copper contracts for which a lack of marketplace quotations would necessitate the use of fair value estimation techniques.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Risk</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company is not currently a party to any derivative instruments to manage interest rate exposure.&nbsp; As in our line of business, derivative instruments would more commonly be employed to hedge the price of commodities, copper in our case.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Risk</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has exposure to fluctuations in currency exchange rates.&nbsp; The Company&#8217;s revenues are generated primarily in the local currency or currencies in its principal operating regions, North Asia, Thailand, and the ROW, which are also its reporting segments.&nbsp; However, nearly all of the costs associated with the purchase of the Company&#8217;s raw materials, including copper, and its capital expenditures, including ongoing equipment upgrade and maintenance programs, are in U.S. dollars.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">83</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_95></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As the Company&#8217;s operating subsidiaries incur operating costs in the local currency where they operate, the Company believes it is prudent that those operating subsidiaries incur indebtedness in the local currency when debt financing is necessary.&nbsp; The amount of indebtedness incurred by our operating subsidiaries from time to time is a function of our business strategy, the attractiveness of borrowing as opposed to other methods of financing operations and tax implications, among other considerations.&nbsp; The Company has exposure to currency exchange risk when the results of its operating subsidiaries are translated from the local currency into the U.S. dollar.&nbsp; At December 31, 2012 and 2013, the other comprehensive income in the total equity section of the consolidated balance sheets included currency translation adjustments of $</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">5.1&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> million and $(</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">11.2</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">) million, respectively.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Market Risks Relating to Copper</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Copper is the principal raw material we use, accounting for a majority portion of the cost of sales in 2013.&nbsp; We purchase copper at prices based on the average prevailing international spot market prices on the LME for copper for the one month prior to purchase.&nbsp; The price of copper is influenced heavily by global supply and demand as well as speculative trading.&nbsp; As with other costs of production, changes in the price of copper may affect our cost of sales.&nbsp; Whether this has a material impact on our operating margins and financial results depends primarily on our ability to adjust our selling prices to our customers, such that increases and decreases in the price of copper are reflected in those selling prices.&nbsp; The purchase price of our products is based in part on the cost of copper used to manufacture those products.&nbsp; In addition, in the ordinary course of business we maintain inventories of raw materials and finished products reasonably necessary for the conduct of our business.&nbsp; These inventories typically reflect the cost of copper prevailing in the market at the time we purchase.&nbsp; Most of our sales of Manufactured Products reflect copper prices prevailing at the time the products are ordered.&nbsp; A long-term decrease in the price of copper would require the Company to revalue the value of its inventory at periodic intervals to the then market value, which could be below cost.&nbsp; Copper prices have been subject to considerable volatility and it is not always possible to manage our copper purchases and inventory so as to neutralize the impact of copper price volatility.&nbsp; Accordingly, significant volatility in copper prices could have an adverse effect on our operations.&nbsp; No assurance can be given that such volatility will not recur.</FONT></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Value of Designated Market-Sensitive Derivative Contracts</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 12:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description of Securities Other Than Equity Securities</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 16.5pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">84</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_96></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 30pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Part II</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 13:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defaults, Dividend Arrearages and Delinquencies</FONT></B></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has not experienced any material default in the payment of principal, interest, a sinking or purchase fund installment, or incurred any other material default, not cured within 30 days relating to the Company&#8217;s or any of its consolidated subsidiaries&#8217; indebtedness.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 14:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Material Modifications to the Rights of Security Holders and Use of Proceeds</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 15:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controls and Procedures</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Disclosure Controls and Procedures</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">An evaluation was carried out under the supervision and with the participation of our management, including the Chief Executive Officer (&#8220;CEO&#8221;) and Chief Financial Officer (&#8220;CFO&#8221;), of the effectiveness of our disclosure controls and procedures in accordance with the provisions of Rule&nbsp;13a-15 promulgated under the Securities Exchange Act of 1934, as amended. Based upon that evaluation and for the reasons stated in the management&#8217;s report on internal control over financial reporting below, our management concluded that our disclosure controls and procedures were effective as of December&nbsp;31, 2013.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Management&#8217;s report on Internal Control over Financial Reporting</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s management, including our CEO and CFO, is responsible for establishing and maintaining adequate internal control over financial reporting. We do not expect that our internal control will prevent all errors and all fraud, or eliminate the possibility of fraudulent conduct. &nbsp;A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. &nbsp;Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. &nbsp;The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, a control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. &nbsp;Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company&#8217;s management, including its CEO and CFO, has assessed the effectiveness of our internal control over financial reporting as of December&nbsp;31, 2013 (the &#8220;Assessment Date&#8221;). &nbsp;In making its assessment, management used the criteria set forth in Internal Control &#8212; Integrated Framework issued in 1992 by the Committee of Sponsoring Organizations (&#8220;COSO&#8221;) of the Treadway Commission. &nbsp;These criteria include the control environment, risk assessment, control activities, information and communication and monitoring of each of the above criteria. &nbsp;Based on this assessment, the Company&#8217;s management, including its CEO and CFO, concluded that the Company&#8217;s internal control over financial reporting was effective as of the Assessment Date. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">In 2012, our independent registered public accounting firm identified a material weakness in the financial statement closing process which resulted in audit adjustments at year ended December 31, 2012. &nbsp;Deficiencies were noted in our controls over complex and non-routine transactions in our financial statement closing process. &nbsp;These deficiencies were attributable to our decentralized reporting structure, our complex and manual consolidation process and inadequate reviews over account balances at the reporting date. The </FONT>

<a name="page_97"></a>
<FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">aggregate effect of these deficiencies represented a material weakness. Based on this assessment, the Company&#8217;s management, including its CEO and CFO, concluded that the Company&#8217;s internal control over financial reporting was ineffective as of December 31, 2012.</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">85</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_97></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">


<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">To remediate the material weakness identified in 2012, we have undertaken the following measures in 2013 to improve our internal controls in the financial statement closing process:</FONT></P>
<P style="TEXT-INDENT: -21.9pt; MARGIN: 0cm 0cm 12pt 45pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Before convening BOD meetings at all the subsidiaries, have them submit BOD agenda and after such meetings are concluded, forward a copy of the meeting minutes to APWC headquarters, so that major policy changes affecting financial results can be captured by the CFO and the finance team to perform assessment;</FONT></P>
<P style="TEXT-INDENT: -21.9pt; MARGIN: 0cm 0cm 12pt 45pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">2)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Have each of the subsidiaries review all policy changes on a regular basis and have each of them confirm such policy changes in its respective reporting package;</FONT></P>
<P style="TEXT-INDENT: -21.9pt; MARGIN: 0cm 0cm 12pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">3)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Coordinate Internal Control department&#8217;s audit effort focusing on balance sheet review; and</FONT></P>
<P style="TEXT-INDENT: -21.9pt; MARGIN: 0cm 0cm 12pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">4)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Conduct more frequent visits by CFO and deputy CFO to subsidiaries&#8217; sites to inquire about accounting estimates and various assumptions used in producing financial statement results.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 23.05pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Changes in internal control over financial reporting</FONT></I></P>
<P style="TEXT-INDENT: 23.1pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Except for the remedial measures described above, there were no changes in our internal control over financial reporting, identified in connection with the evaluation of such internal control that occurred during the last fiscal year, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit Committee Financial Expert</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">During 2010 and until April 29, 2011, the Common Shares of the Company were traded on the over-the-counter bulletin board (&#8220;OTCBB&#8221;). &nbsp;As of April 29, 2011, the Common Shares of the Company trade on NASDAQ. &nbsp;While the Company&#8217;s Common Shares were traded on the OTCBB, the Company was not required to have an audit committee that met the requirements of, nor was it required to have an audit committee financial expert as contemplated by, Regulation 10A-3 under the Exchange Act. &nbsp;During those periods of time when the Company did not have any independent directors, our full Board of Directors fulfilled the functions of an audit committee pursuant to Section 3(a)(58)(B) of the Exchange Act.&nbsp; For all of 2012 and 2013, our audit committee has consisted of our three independent directors, Mr. Anson Chan, Dr. Yichin Lee and Dr. Lambert L. Ding, with Mr. Chan serving as the Audit Committee&#8217;s chairman and financial expert. &nbsp;The Audit Committee of the Company&#8217;s Board of Directors meets the requirements set forth in Regulation 10A-3 under the Exchange Act and under the rules of NASDAQ.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Code of Ethics</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">On April 26, 2005, the Company adopted a code of ethics applicable to its Chief Executive Officer and senior financial officers.&nbsp; A copy of the Company&#8217;s code of ethics for senior executives is on file with the SEC.&nbsp;</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">86</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_98></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Accountant Fees and Services</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Audit Fees</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The aggregate fees for fiscal years 2013 and 2012 for professional services rendered by the principal accountant for the audit of the Company&#8217;s annual financial statements totaled $0.9 million and $0.8 million, respectively.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Audit-Related Fees</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The aggregate fees for fiscal year 2013 and 2012 for the professional services rendered by the principal accountant for International Financial Reporting Standards conversion related services totaled approximately $nil and $136,000, respectively.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Tax Fees</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The aggregate fees for fiscal years 2013 and 2012 for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning totaled approximately $131,000 and $95,000, respectively.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">All Other Fees</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(None)</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-INDENT: 22.3pt; MARGIN: 0cm 0cm 12pt"><I><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Audit Committee Approval</FONT></I></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The engagement of the accountant to render audit, audit-related and non-audit services is entered into pursuant to pre-approval policies and procedures established in the Charter of the Audit Committee of the Company.&nbsp; Each of the services described in this Item 16C was approved by the Audit Committee.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exemptions from the Listing Standards for the Audit Committees</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Audit Committee of the Company&#8217;s Board of Directors consists of three directors, each of whom is independent, as such term is defined in Regulation 10A-3 promulgated under the Exchange Act, and one of whom is a financial expert.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of Equity Securities by the Issuer and Affiliated Purchasers</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">During 2012, and through April 2013, the Company undertook a Share Buy-back Plan, pursuant to which the Company re-purchased a total of </FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">9,300&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> Common Shares, with the most recent purchase taking place on January 10, 2013, at an average weighted price of $3.38 per share. &nbsp;The Company announced the suspension of the Share Buy-back Plan on April 25, 2013.&nbsp; Subsequently in 2013, in a private transaction, the Company purchased a further 1,800 Common Shares that were also booked a treasury shares and are classified as issued but not outstanding. </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">As of the date of the filing of this Annual Report, the Company has 13,830,769 Common Shares issued and 13,819,669 Common Shares outstanding and 11,100 issued Common Shares held in treasury.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in Registrant&#8217;s Certifying Accountant</FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt">&nbsp;</P>
</DIV>
<P style="TEXT-ALIGN: center">87</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_99></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 12pt">&nbsp;</P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16G.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Governance</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Common Shares of the Company are traded on the NASDAQ Global Markets tier.&nbsp; However, as the Company has a more than fifty percent (50%) shareholder, the Company is entitled to rely upon a &#8220;controlled company exemption&#8221; that exempts it from having a board of directors comprised of a majority of independent directors.&nbsp; At present, a majority of the board of directors of the Company is affiliated with PEWC.&nbsp; The Company also relies on the NASDAQ&#8217;s allowance for foreign private issuers to follow home country practices in lieu of the requirement that listed companies have regularly scheduled meetings at which only independent directors are present (&#8220;executive sessions&#8221;).&nbsp; The independent directors of the Company meet periodically in executive session in their capacity as members of the Audit Committee of the Board of Directors of the Company without other Directors present, but on occasion meet with the independent auditors of the Company present in such executive session, and on occasion meet with members of management present in order to understand more fully management&#8217;s analysis of the Company&#8217;s financial performance and compliance with relevant corporate governance requirements. &nbsp;These are the only material differences between the Company&#8217;s corporate governance practices and the corporate governance practices set forth for domestic companies under the NASDAQ rules on the subject matter.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 16H.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mine Safety Disclosure</FONT></B></P>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">(Not applicable)</FONT></P>
</DIV>
<P style="TEXT-ALIGN: center">88</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_100></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 30pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Part III</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 17:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">The Company has elected to provide the financial statements and related information specified in Item 18 in lieu of Item 17.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 18:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 12pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">See pages F-<STRONG>1</STRONG></FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"> &#8211; F-91</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Item 19:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</FONT></B></P>
<DIV align=center>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<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="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">19.1</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="91%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 12pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Index to Audited Financial Statements</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Reports of independent registered accounting firms</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="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" 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="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Consolidated income statements for the years&nbsp;ended December 31, 2013 and 2012</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=bottom width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Consolidated statements of&nbsp;comprehensive income for the years ended December 31,&nbsp;2013 and 2012</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="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" 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="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Consolidated balance sheets as of&nbsp; December 31, 2013, December 31, 2012 and January 1, 2012</FONT></P>
</TD></TR>
<TR>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt 5pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Consolidated&nbsp; statements of shareholder&#180;s equity for the years ended December 31, 2013 and 2012&nbsp;</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #ffffff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #ffffff; PADDING-TOP: 0cm" vAlign=bottom width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Consolidated statements of cash flows for the years ended December 31, 2013&nbsp;and 2012</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=bottom width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Notes to consolidated financial statements</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #ffffff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #ffffff; PADDING-TOP: 0cm" vAlign=bottom width="91%">
<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-INDENT: -10pt; MARGIN: 0cm 0cm 0pt 10pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">19.2</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 6pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Index to Exhibits</FONT></B></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">1.1</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Memorandum of Association of Asia Pacific Wire &amp; Cable Corporation Limited (incorporated by reference to Exhibit 1.1 of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on June 21, 2001).</FONT></P>
</TD></TR>
<TR style="HEIGHT: 42pt">
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 42pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">1.2</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 42pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Third Amended and Restated Bye-Laws of Asia Pacific Wire &amp; Cable Corporation Limited (incorporated by reference to Exhibit 3.2 of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2012).</FONT></P>
</TD></TR>
<TR style="HEIGHT: 42pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 42pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">4.1</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; HEIGHT: 42pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Amended and Restated Shareholders&#8217; Agreement dated March 27, 2009 (incorporated by reference to Exhibit 3.4 of the Company&#8217;s Post-Effective Amendment No. 1 to Form F-1 filed with the Securities and Exchange Commission on April 2, 2009).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">4.2</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Shareholders&#8217; Agreement Joinder dated as of July&nbsp;1, 2011(incorporated by reference to Exhibit 3.5 of the Company&#8217;s Post-Effective Amendment No. 8 to Form F-1 on Form F-3 filed with the Securities and Exchange Commission on August 31, 2011).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">4.3</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Composite Services Agreement (incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form F-1 filed with the Securities and Exchange Commission on November 13, 1996).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">4.4</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Agreement for the Sale and Purchase of (i) Shares in Crown Century Holdings Limited and (ii) Shareholder&#8217;s Loan (incorporated by reference to Exhibit 5.1 of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on July 1, 2002).</FONT></P>
</TD></TR></TABLE></DIV></DIV>
<P style="TEXT-ALIGN: center">89</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp;
<A name=page_101></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 30pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman"></FONT></B>&nbsp;</P>
<DIV align=center>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">4.5</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Settlement Agreement between Asia Pacific Wire &amp; Cable Corporation, Ltd. and Sino-JP Fund Co., Ltd. (incorporated by reference to Exhibit 4.5 of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on November 9, 2007).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">4.6</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Amended and Restated summaries of Joint Venture Agreements (incorporated by reference to Exhibit 4.6 of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2013).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">4.7</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Loan Facility Agreement between Crown Century Holdings Limited and Bangkok Bank Public Company Limited dated March 17, 2011 (incorporated by reference to Exhibit 10.8 of the Company&#8217;s Post-Effective Amendment No. 8 to Form F-1 on Form F-3 filed with the Securities and Exchange Commission on August 31, 2011).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">4.8</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Rule 10b5-1 Issuer Purchase Plan (incorporated by reference to the Company&#8217;s report on Form 6-K filed with the Securities and Exchange Commission on April 25, 2013).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">8</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">List of significant subsidiaries (see Note 1 to the consolidated financial statements).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">11</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Code of Ethics (incorporated by reference to Exhibit 11 of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on November 9, 2007).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<A href="exhibit12_1.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">12.1</FONT></P>
</A></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<A href="exhibit12_1.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Certification of Chief Executive Officer of the Company, pursuant to Section 302 of the Sarbanes-Oxley Act.</FONT></P>
</A></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<A href="exhibit12_2.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">12.2</FONT></P>
</A></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<A href="exhibit12_2.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Certification of Chief Financial Officer of the Company, pursuant to Section 302 of the Sarbanes-Oxley Act.</FONT></P>
</A></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<A href="exhibit13_1.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">13.1</FONT></P>
</A></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<A href="exhibit13_1.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Certification by Chief Executive Officer of periodic financial report pursuant to 18 U.S.C. Section 1350, as mandated by Section 906 of the Sarbanes-Oxley Act.</FONT></P>
</A></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<A href="exhibit13_2.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">13.2</FONT></P>
</A></TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<A href="exhibit13_2.htm">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=#000000 face="Times New Roman">Certification by Chief Financial Officer of periodic financial report pursuant to 18 U.S.C. Section 1350, as mandated by Section 906 of the Sarbanes-Oxley Act.</FONT></P>
</A></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">15(a)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND: #cceeff; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Amended and Restated Audit Committee Charter (incorporated by reference to Exhibit 16.G of the Company&#8217;s Annual Report on Form 20-F filed with the Securities and Exchange Commission on May 13, 2011).</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="9%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">15(b)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="91%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman">Letter of Ernst &amp; Young Hong Kong to the Commission pursuant to Item 16F(a) (incorporated by reference to Exhibit 15(b) of the Company&#8217;s annual report on Form 20-F filed with the Securities and Exchange Commission on April 30, 2013).</FONT></P>
</TD></TR></TABLE></DIV></DIV>
<P style="TEXT-ALIGN: center">90</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_102></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader102"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 22pt" align=center><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">SIGNATURE</FONT></B></P>
<P style="TEXT-INDENT: 22pt; MARGIN: 0cm 0cm 22pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant certifies that it meets all of the requirements for filing on Form 20-F and has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 26pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 26pt; PADDING-TOP: 0cm" vAlign=top width="60%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 26pt; PADDING-TOP: 0cm" vAlign=top width="40%">
<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">ASIA PACIFIC WIRE &amp; CABLE</FONT></B></P>
<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">CORPORATION LIMITED</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 26.5pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 26.5pt; PADDING-TOP: 0cm" vAlign=top width="60%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Date: April&nbsp;</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">30</FONT><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">, 2014</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 26.5pt; PADDING-TOP: 0cm" vAlign=top width="40%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
<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 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">/s/ Yuan Chun Tang</FONT></P>
</DIV></TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="60%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="40%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Yuan Chun Tang</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="60%">
<P style="TEXT-INDENT: -11pt; MARGIN: 0cm 0cm 0pt 11pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 13pt; PADDING-TOP: 0cm" vAlign=top width="40%">
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US color=black face="Times New Roman">Chief Executive Officer</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt">&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter102"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
</DIV></DIV>
<P style="TEXT-ALIGN: center">91</P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_103></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader103"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0pt 0pt 22.4pt; VERTICAL-ALIGN: baseline"><FONT style="FONT-VARIANT: small-caps" face=arial,sans-serif><FONT style="LINE-HEIGHT: 35pt; FONT-SIZE: 20pt" lang=EN-US face=arial,sans-serif>Asia Pacific Wire &amp; Cable Corporation</FONT></FONT><FONT style="FONT-VARIANT: small-caps" face=arial,sans-serif><FONT style="LINE-HEIGHT: 35pt; FONT-SIZE: 20pt" lang=EN-US face=arial,sans-serif> &nbsp;</FONT></FONT><FONT style="FONT-VARIANT: small-caps" face=arial,sans-serif><FONT style="LINE-HEIGHT: 35pt; FONT-SIZE: 20pt" lang=EN-US face=arial,sans-serif>Limited</FONT></FONT><FONT style="POSITION: relative; TOP: 0.5pt" face=arial,sans-serif><FONT style="LINE-HEIGHT: 35pt; FONT-SIZE: 22pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></FONT></P>
<P style="TEXT-INDENT: -21.25pt; MARGIN: 0.45pt 0in 0pt 21.25pt"><FONT style="LINE-HEIGHT: 8.5pt; FONT-SIZE: 8.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -32.5pt; MARGIN: 0.75pt 0in 0pt 32.5pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 13pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0in 0pt 0pt 40pt"><FONT style="FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif>Audited Consolidated</FONT><FONT style="LETTER-SPACING: 4pt; FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif>Financial&nbsp;</FONT><FONT style="LETTER-SPACING: 2.7pt; FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif>Statements&nbsp;</FONT></P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0.05pt 0in 0pt 40pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0in 0in 0pt 40pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0in 0in 0pt 40pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0in 0in 0pt 40pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 16pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0in 0pt 0pt 40pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>As of December</FONT><FONT style="LETTER-SPACING: 1.35pt; FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif> 31, </FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>2013 and 2012 and January 1, 2012</FONT></P>
<P style="TEXT-INDENT: -40pt; MARGIN: 0in 0pt 0pt 40pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Years ended December 31, 2013 and 2012</FONT></P>
<a name="_bclFooter103"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_104"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader104"></a><DIV>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0>



<TR>

   <TD width="5%"></TD>

   <TD width="90%"></TD>

   <TD width="5%"></TD></TR>

<TR vAlign=bottom>

   <TD width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=center><FONT style="FONT-FAMILY: arial" size=2>INDEX TO FINANCIAL STATEMENTS</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD></TR>

<TR>

   <TD width="100%" colSpan=3><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=center><FONT style="FONT-FAMILY: arial" size=2>CONTENTS</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD></TR>

<TR>

   <TD width="100%" colSpan=3><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Report of independent registered public accounting</FONT><FONT style="FONT-FAMILY: arial" size=2> firm</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.119pt" width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>2</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Consolidated income statements</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></P></TD>

   <TD width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>3</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0pt" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Consolidated statements of comprehensive income</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.119pt" width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>4</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Consolidated balance sheets</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></P></TD>

   <TD style="TEXT-INDENT: 0.119pt" width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>5</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0pt" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Consolidated statements of changes in equity</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.119pt" width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>7</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Consolidated statements of cash flows</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></P></TD>

   <TD style="TEXT-INDENT: 0.119pt" width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>8</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0pt" width="95%" colSpan=2 align=left>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: arial" size=2>Notes to the consolidated financial statements</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.119pt" width="5%" align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: arial" size=2>9</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>1.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Principal activities and corporate information</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>9</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>2.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Basis of preparation</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>11</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>2.1</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Basis of preparation</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>11</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>2.2</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Basis of consolidation</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>11</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>3.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Summary of significant accounting policies</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>14</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>4.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>First-time adoption of IFRS</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>33</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>5.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Standards issued but not yet effective</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>40</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>6.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Segment information</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>41</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>7.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Material partly-owned subsidiaries</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>47</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>8.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Investment in associates</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>50</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>9.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Fair value measurement</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>53</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other income/expenses and adjustments</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>55</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.1</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other operating income</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>55</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.2</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other operating expenses</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>55</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.3</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Finance costs</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>55</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.4</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Finance income</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>55</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.5</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other income</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>55</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.6</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other expense</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>56</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.7</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Depreciation, amortization and lease expense included in the consolidated income statements</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>56</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>10.8</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Employee benefits expense</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>56</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>11.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Income tax</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>57</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>12.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Assets classified as held for sale</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>62</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>13.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Earnings per share</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>62</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>14.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Property, plant and equipment</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>63</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>15.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Prepaid land lease payments</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>64</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>16.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Investment properties</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>65</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>17.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Intangible assets</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>67</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>18.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other financial assets and financial liabilities</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>68</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>18.1</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Other financial assets</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>68</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>18.2</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Interest-bearing loans and borrowings</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>70</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>18.3</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Hedging activities and derivatives</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>71</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>18.4</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Fair values</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>72</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>19.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Inventories</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>74</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>20.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Trade and other receivables</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>75</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>21.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2 face=ArialMT,Arial,Helvetica,sans-serif>Cash and cash equivalents</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>76</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>22.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Equity</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>76</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>23.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Employee benefit</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>78</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>24.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Trade and other payable </FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>80</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>25.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2 face=ArialMT,Arial,Helvetica,sans-serif>Related party&nbsp;transactions</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>81</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>26.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Commitments and contingencies</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>84</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>27.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Financial risk management objectives</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>87</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 12pt" width="5%" align=left><FONT style="FONT-FAMILY: arial" size=2>28.</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 0.006pt" width="90%" align=left><FONT style="FONT-FAMILY: arial" size=2>Approval of the financial statements</FONT><FONT style="FONT-FAMILY: arial" size=2>&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="5%" align=center><FONT style="FONT-FAMILY: arial" size=2>91</FONT></TD></TR></TABLE>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT size=2 face=Calibri></FONT>&nbsp;</P></DIV>

<a name="_bclFooter104"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>1</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_105"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 11pt" lang=EN-US face="times new roman">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; BACKGROUND: white" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">The Board of Directors and Shareholders of Asia Pacific Wire &amp; Cable Corporation Limited:</FONT></P>

<P style="MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 13.5pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">We have audited the accompanying consolidated balance sheets of Asia Pacific Wire &amp; Cable Corporation Limited and subsidiaries (the &#8220;Company&#8221;) as of December 31, 2013 and 2012<FONT style="FONT-SIZE: 11pt" face="Times New Roman">,</FONT> and January 1, 2012, and the related consolidated income statements, statements of comprehensive income,&nbsp;<FONT style="FONT-SIZE: 11pt" face="Times New Roman">changes in</FONT>&nbsp;equity, and cash flows for&nbsp;each of the two&nbsp;years in the period ended December 31, 2013. These financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on these financial statements based on our audits.&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 13.5pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Company&#8217;s internal control over financial reporting. Our audit<FONT style="FONT-SIZE: 11pt" face="Times New Roman">s</FONT> included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation.&nbsp; We believe that our audits provide a reasonable basis for our opinion.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 13.5pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; BACKGROUND: white"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Asia Pacific Wire &amp; Cable Corporation Limited and subsidiaries at &nbsp;December 31, 2013 and 2012<FONT style="FONT-SIZE: 11pt" face="Times New Roman">,</FONT> and January 1, 2012 and the consolidated results of their operations and their cash flows for&nbsp;each of the two&nbsp;years in the period ended December 31,&nbsp;2013, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">/s/ Ernst &amp; Young</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">Taipei, Taiwan</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="times new roman"></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 12pt; MARGIN-TOP: 0.45pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face="times new roman">April 30, 2014</FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face=pmingliu><BR clear=all></FONT></P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter105"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>2</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_106"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader106"></a><DIV>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0pt 27.55pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>CONSOLIDATED </FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>INCOME STATEMENTS</FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;</FONT></FONT></P>

<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>For the years ended December 31, 2013 and 2012</FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 103.9pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 103.9pt 0pt 22.5pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="2%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="64%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 103.9pt 0pt 22.5pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Sales of goods / services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>3.14</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>460,676</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>462,265</FONT></P></TD></TR>

<TR>

   <TD vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Cost of sales</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10,19</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(408,860)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(411,786)</FONT></P></TD></TR>

<TR>

   <TD vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>51,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>50,479</FONT></P></TD></TR>

<TR>

   <TD vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other operating income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,825</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Selling, general and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(34,559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(34,593)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other operating expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(196)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(888)</FONT></P></TD></TR>

<TR>

   <TD vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Operating profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>17,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20,823</FONT></P></TD></TR>

<TR>

   <TD vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,734)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,195)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Finance income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,306</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,322</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Share of loss of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(211)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(21)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Gain on disposal of investment &#8211; held for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>232</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Gain on liquidation of subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>279</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange gain (loss)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,245)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,411</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,454</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,933</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(260)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp;</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Profit before</FONT></B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif> </FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>tax&nbsp;&nbsp;</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>24,552</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp;</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(5,518)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(7,578)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp;</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Profit for the year </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,266</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,974</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Attributable to:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 1pt 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Equity holders of the parent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,694</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 1pt 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,419</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,280</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#4367c5 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="64%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 16.8pt 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#4367c5 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,266</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: #000000 1px solid; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,974</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 1pt 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Earnings per share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13</FONT></P></TD>

   <TD vAlign=bottom width="4%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="4%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 1pt 16.8pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-SG face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Basic and diluted profit for the year attributable to equity holders of the parent </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="4%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp;0.42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=bottom width="4%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>$</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="8%" align=right>

   <P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp;0.70</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>

<a name="_bclFooter106"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>3</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_107></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader107"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0pt 27.55pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>CONSOLIDATED </FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>STATEMENTS OF COMPREHENSIVE INCOME</FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif> &nbsp;</FONT></FONT></P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>For the years ended December 31, 2013 and 2012</FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
</DIV>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; BORDER-COLLAPSE: collapse; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="62%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="62%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Profit for the year</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,266</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,974</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="LINE-HEIGHT: 120%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other comprehensive income</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="LINE-HEIGHT: 120%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="LINE-HEIGHT: 120%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="LINE-HEIGHT: 120%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="LINE-HEIGHT: 120%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other comprehensive income to be reclassified to profit or loss in </FONT></I></P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 28.5pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>subsequent periods:</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange differences on translation of foreign operations, net of tax of $0</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>22</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(15,418)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,113</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Net gain (loss) on available-for-sale financial assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>&nbsp; </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,338)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>572</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax effect</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>402</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(172)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>22</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(936)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>400</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.65pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other comprehensive income not to be reclassified to profit or loss in </FONT></I></P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 28.5pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>subsequent periods:</FONT></I></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measuring losses on defined benefit plans</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(51)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(153)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax effect</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>46</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 2.5pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt 6pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Defined benefit pension plan, net of tax </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>22</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(36)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(107)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=center><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=right><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=right><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.4pt; MARGIN: 0in 0in 0pt 22.4pt" align=right><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other comprehensive (loss) income for the year, net of tax</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(16,390)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,406</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total comprehensive (loss) income for the year, net of tax</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(5,124)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23,380</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Attributable to:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 1pt 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Equity holders of the parent</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(5,822)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14,938</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 1pt 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Non-controlling interests</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>698</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8,442</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#4367c5 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(5,124)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23,380</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="62%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter107"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>4</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_108></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader108"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0pt 27.55pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>CONSOLIDATED </FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>BALANCE SHEETS</FONT></FONT><FONT color=black face=arial,sans-serif>&nbsp;</FONT></P>
</DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="46%" colSpan=5>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of</FONT></B></P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>January 1,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.7pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="46%" colSpan=5>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="46%" colSpan=5>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.3pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Current assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Cash and cash equivalents </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>62,509</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>72,816</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>76,672</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other current financial assets &#8211; available for sale</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,378</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other current financial assets &#8211; derivatives</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9, 18</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>64</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Trade receivables</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>122,893</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>125,128</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98,431</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other receivables</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,139</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19,495</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18,462</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Due from related parties</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>25</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,842</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,066</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,227</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Inventories</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98,194</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98,084</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>78,242</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Prepayments</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,559</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,556</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,473</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets classified as held for sale</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>12</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,281</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other current assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,113</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,136</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,380</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>302,249</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>327,940</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>282,951</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Non-current assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 22.9pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other non-current financial assets &#8211; available for sale</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9, 18</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,189</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,577</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 22.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,981</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other non-current financial assets &#8211; held to maturity</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>335</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>360</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Property, plant and equipment</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>48,709</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>47,464</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,184</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Prepaid land lease payments</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,939</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,957</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,001</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Investment properties</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9, 16</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>746</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>751</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>743</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Intangible assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>17</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>104</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>163</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>136</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Investments in associates </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,937</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,133</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,435</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other non-current assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>449</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>914</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>159</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>Deferred tax assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,978</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,492</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,820</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>62,386</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>63,811</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>58,459</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>364,635</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>391,751</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>341,410</FONT></B></P>
</TD></TR></TABLE></DIV>
<a name="_bclFooter108"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>5</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_109></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader109"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0pt 27.55pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>CONSOLIDATED </FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>BALANCE SHEETS</FONT></FONT><FONT color=black face=arial,sans-serif>&nbsp;</FONT></P>
</DIV>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="46%" colSpan=5>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of</FONT></B></P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>January 1,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.7pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="46%" colSpan=5>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="46%" colSpan=5>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Current liabilities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.3pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,789</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>57,845</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>52,813</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Trade and other payables</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>24</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,369</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>40,630</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21,138</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Due to related parties</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>25</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,126</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,428</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14,693</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Due to immediate holding company</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>25</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,732</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,732</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,732</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Accruals</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,336</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,245</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,691</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax payable</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,874</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,180</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,835</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Employee benefit liability</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>419</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>453</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,005</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Financial lease liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>26</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>37</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>167</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>842</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Onerous contracts provisions</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3.14</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>125</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>291</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>72</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Dividend payable</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>348</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>336</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>265</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other current liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,617</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8,828</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,281</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>127,772</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>146,135</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>118,367</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Non-current liabilities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Employee benefit liability </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,455</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,387</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,310</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Financial lease liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>26</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>28</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>76</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>236</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Provisions for employee benefit</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>577</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>597</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>507</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Deferred tax liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,676</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,396</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,260</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.2in">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8,736</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8,456</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.2in; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,313</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total liabilities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>136,508</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>154,591</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>123,680</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Equity</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>22</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Issued capital</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>138</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>138</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>138</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Additional paid-in capital</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>110,608</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>110,608</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>111,541</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Treasury shares</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(38)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(6)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Retained earnings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>51,766</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>45,919</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>36,166</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other components of equity</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(5,226)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,443</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,199</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Equity attributable to equity holders of the parent</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>157,248</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>163,102</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>149,044</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Non-controlling interests</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>70,879</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>74,058</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>68,686</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total equity</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>228,127</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>237,160</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>217,730</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities and equity </FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>364,635</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>391,751</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>341,410</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%" colSpan=5>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter109"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>6</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_110></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader110"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0pt 27.55pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>CONSOLIDATED </FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>STATEMENTS OF CHANGES IN EQUITY</FONT></FONT><FONT color=black face=arial,sans-serif>&nbsp;</FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>For the years ended December 31, 2013 and 2012</FONT></FONT></P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="48%" colSpan=8>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Attributable to the equity holders of the parent</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="40%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Issued capital</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Additional paid-in capital</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Treasury shares</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Retained earnings</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Actuarial losses on defined benefit plans</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Available-for-sale reserve</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Foreign currency translation reserve</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>interests</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>equity</FONT></B></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance at January 1, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>138</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>111,541</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>36,166</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,199</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>149,044</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>68,686</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>217,730</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchase of treasury shares</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,694</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>9,694</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,280</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>16,974</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other comprehensive (loss) income (Note 22)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(54)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>203</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,095</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,244</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,162</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,406</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Increase in shareholding in a subsidiary</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(933)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>59</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(874)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(877)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividend paid to non-controlling shareholders of subsidiaries</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,067)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,067)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -4.4pt; MARGIN: 0in 0in 0pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance at December 31, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>138</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>110,608</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>45,919</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>(54)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,402</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,095</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>163,102</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>74,058</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" face=arial,sans-serif>237,160</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchase of treasury shares</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(32)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>(32)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>(32)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,847</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>5,847</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,419</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,266</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other comprehensive loss</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(19)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(476)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(11,174)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(11,669)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(4,721)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(16,390)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividend paid to non-controlling shareholders of subsidiaries</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,877)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,877)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -4.4pt; MARGIN: 0in 0in 0pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="40%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance at December 31, 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>138</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>110,608</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(38)</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>51,766</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(73)</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>926</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6,079)</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>157,248</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>70,879</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="6%">
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>228,127</FONT></P>
</DIV></TD></TR></TABLE></DIV>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>
<DIV align=center>&nbsp;</DIV>
<a name="_bclFooter110"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>7</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_111></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader111"></a><DIV>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0pt 27.55pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>CONSOLIDATED </FONT></FONT><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>STATEMENTS OF CASH FLOWS</FONT></FONT><FONT color=black face=arial,sans-serif>&nbsp;</FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>For the years ended December 31, 2013 and 2012</FONT></FONT></P>
<P style="TEXT-INDENT: -27.5pt; MARGIN: 0in 0in 0pt 27.5pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<DIV align=center>
<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 0pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 0pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>
<P style="TEXT-INDENT: 5.15pt; MARGIN: 0in 0in 0pt 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Operating activities:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit before tax</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,784</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>24,552</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Adjustments to reconcile profit before tax to net </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>cash provided by operating activities:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,590</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,341</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Reversal of impairment loss of investment properties</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(68)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Amortization of prepaid land lease payments</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>59</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>59</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Amortization of intangible assets </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>69</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>80</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Gain on disposal of property, plant and equipment</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(113)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(354)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Gain on disposal of investment<FONT style="FONT-SIZE: 9pt" face=Arial>-</FONT>held for sale</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(232)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividend income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(110)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(109)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Finance income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,306)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,322)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Finance costs</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,734</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,195</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Share of loss of associates</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>211</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>21</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Noncash other income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(324)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Reversal of allowance for trade receivables</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>196</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(709)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Write-back of impairment of inventories</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,046)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,161)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Unrealized foreign exchange difference, net</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>687</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>26</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Gain on liquidation of subsidiaries</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(279)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Changes in operating assets and liabilities </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="MARGIN: 0in 0pt 0pt 10pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other receivable, net</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,999</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(23,473)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="MARGIN: 0in 0pt 0pt 10pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Inventories</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,350)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(12,022)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="MARGIN: 0in 0pt 0pt 10pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Prepayment and other current assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>877</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,451</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="MARGIN: 0in 0pt 0pt 10pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Amounts due to/from related parties</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,696</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,102)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="MARGIN: 0in 0pt 0pt 10pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>349</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>497</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" width="69%">
<P style="MARGIN: 0in 0pt 0pt 10pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other payables, accruals, other current liabilities and other non-current liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,704</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>27,100</FONT></P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash flows provided by operating activities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>26,406</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>15,791</FONT></B></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividend received</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>110</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>109</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest received</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,334</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,305</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest paid</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,420)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,704)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0pt 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Income tax paid</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,818)</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(4,829)</FONT></P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net cash provided by operating activities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>20,612</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,672</FONT></B></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Investing activities:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchase of available-for-sale financial assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,378)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Proceeds from disposal of available-for-sale financial assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,378</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of held-to-maturity securities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(360)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of property, plant and equipment</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(9,494)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(10,892)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of intangible assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(15)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(105)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Proceeds from disposal of held for sale assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,512</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Proceeds from disposal of property, plant and equipment </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>157</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>413</FONT></P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net cash used in investing activities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,462)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(13,322)</FONT></B></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financing activities:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividend paid to non-controlling shareholders of subsidiaries</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,877)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,067)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 9.35pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Repayments of borrowings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(40,818)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6,000)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Proceeds from borrowings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>25,521</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: 31.5pt; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,888</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Share buy-back </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(32)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: 45pt; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Acquisition of non-controlling interest </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(877)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Change in financial lease liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(165)</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(870)</FONT></P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net cash used in financing activities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(19,371)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(932)</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 17pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Effect of exchange rate changes on cash and cash equivalents</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6,086)</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(274)</FONT></P>
</DIV></TD></TR>
<TR style="HEIGHT: 9.9pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net decrease in cash and cash equivalents</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(10,307)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 9.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,856)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash and cash equivalents at beginning of year</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>72,816</FONT></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 10.6pt; FONT-SIZE: 9pt" face=arial,sans-serif>76,672</FONT></P>
</DIV></TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="69%">
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0pt 0pt 22.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash and cash equivalents at end of year</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>62,509</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 22.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>72,816</FONT></B></P>
</DIV></TD></TR></TABLE></DIV>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 34.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -22.5pt; MARGIN: 0in 0in 0pt 34.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>
<a name="_bclFooter111"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>8</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_112></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader112"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.PRINCIPAL ACTIVITIES AND CORPORATE INFORMATION</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 26pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Asia Pacific Wire &amp; Cable Corporation Limited (&#8220;APWC&#8221; or the &#8220;Company&#8221;), which is a subsidiary of Pacific Electric Wire &amp; Cable Co., Ltd. (&#8220;PEWC&#8221;), a Taiwanese company, was incorporated as an exempted company in Bermuda on September 19, 1996 under the Companies Act 1981 of Bermuda (as amended) for the purpose of acting as a holding company. The Company is principally engaged in owning operating companies engaged in the power cable, telecommunication cable, enameled wire and electronic cable industry. The Company&#8217;s registered office is located at Canon&#8217;s Court, 22 Victoria Street, Hamilton HM EX, Bermuda. The Company&#8217;s executive business office is presently located in Taipei, Taiwan.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s operating subsidiaries (the &#8220;Operating Subsidiaries&#8221;) are engaged in the manufacturing and distribution of telecommunications, power cable and enameled wire products in Singapore, Thailand, Australia, the People&#8217;s Republic of China (&#8220;PRC&#8221;) and other markets in the Asia Pacific region. Major customers of the Operating Subsidiaries include government organizations, electric contracting firms, electrical dealers, and wire and cable factories. The Company&#8217;s Operating Subsidiaries also engage in the distribution of certain wire and cable products manufactured by PEWC and third parties. The Company also provides project engineering services in supply, delivery and installation (the &#8220;SDI&#8221;) of power cable to certain of its customers. Information on the Company&#8217;s operations by segment is included in Note 6.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company was listed on the New York Stock Exchange in March 1997. On December 24, 2001, the staff of the New York Stock Exchange (&#8220;NYSE&#8221;) announced that it had determined that the trading of the common shares of APWC should be suspended prior to December 31, 2001. The decision was reached in view of the fact that the Company&#8217;s share price had fallen below NYSE&#8217;s continued listing standards. Following the delisting of the Company&#8217;s common shares on the NYSE, the Company&#8217;s common shares were traded under the ticker AWRCF, on the Over-the-Counter Bulletin Board (&#8220;OTC BB&#8221;), operated by the National Association of Securities Dealers, Inc. (&#8220;NASD&#8221;). After the Company failed to timely file its annual report on Form 20-F for the 2004 fiscal year, the Company was delisted from the OTC BB in August 2005 and thereafter its common shares were quoted on the &#8220;pink sheets&#8221; market by Pink Sheets LLC, a privately owned company that provides pricing and financial information for over-the-counter securities. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On June 28, 2007, SOF Investment, L.P. (&#8220;SOF&#8221;), a Delaware limited partnership controlled by MSD Capital, L.P. acquired 20% of the issued and outstanding shares of the Company from a private equity investor and entered into a shareholders&#8217; agreement with the Company and PEWC. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On April 9, 2008, the Company was listed again and began trading its common shares on the OTC BB after completing all reporting requirements and filing all outstanding financial reports with the US Securities and Exchange Commission (&#8220;SEC&#8221;). The Company is subject to the reporting requirements under the Securities Exchange Act of 1934. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On March 30, 2009, SOF sold 10.2% of the issued and outstanding shares of the Company to PEWC. PEWC is currently holding 65.6% of the equity of the Company and COF (as successor-in-interest to SOF) is holding 9.8%. The remaining 24.6% of the issued and outstanding common shares were publicly traded on the Over-the-Counter Bulletin Board (&#8220;OTC BB&#8221;) prior to that date. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On April 29, 2011, the Company&#8217;s common shares commenced trading on NASDAQ Capital Market tier. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of&nbsp; July 1, 2011, SOF transferred its 9.8% interest in the Company to MSD Credit Opportunity Master Fund, L.P. (&#8220;COF&#8221;), which became a party to the shareholders agreement, as amended and restated on March 27, 2009 (the &#8220;Amended Shareholders Agreement&#8221;), and succeeded to all of the right, title, and interest in the common shares previously held by SOF.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On February 15, 2013, the Company&#8217;s common shares started trading on the NASDAQ Global Market tier.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Share Capital </FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On September 8, 2008, the Company&#8217;s shareholders approved an increase to the authorized share capital from 20,000,000 common shares, par value $0.01 per share, to 50,000,000 common shares, par value $0.01 per share.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 29pt; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Share Capital Repurchase Program</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 29pt; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s board of directors authorized a share capital repurchase program for its common shares on August 28, 2012, up to $2 million worth of its common shares over the next twelve months. As of December 31, 2013 and 2012 the Company had repurchased 11,100 shares and 1,900 shares, respectively, with a total consideration of $38. &nbsp;The Company records the value of its common shares held in the treasury at cost.&nbsp; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 29pt; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter112"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>9</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_113></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader113"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>PRINCIPAL ACTIVITIES AND CORPORATE INFORMATION (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 31.05pt; VERTICAL-ALIGN: baseline"><U><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Put Right and Option</FONT></U></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 31.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.05pt; MARGIN: 0in 0in 0pt 24.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Under the terms of the Amended Shareholders&#8217; Agreement, COF has the right and option (but not the obligation) to sell to PEWC upon the occurrence of a Put Event (defined below), and PEWC agreed to purchase from COF upon the occurrence of a Put Event, all registrable securities then owned by COF (the &#8220; Put Shares &#8221;), for an amount equal to the Put Price (defined below) together with interest (calculated on the basis of a 360 day year) on the Put Price, computed (x) from June 28, 2007 through May 31, 2010 at a rate per annum that shall be equal to the Libor rate plus fifty (50) basis points (compounded annually), and (y) from June 1, 2010 until the Put Closing (defined below) at a rate per annum that shall be equal to the Libor rate plus one hundred and fifty (150) basis points compounded annually) (the &#8220; Put Right &#8221;).</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.1pt; MARGIN: 0in 0in 0pt 38.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>If the Put Event terminates prior to the closing of such Put Right, the exercise of the Put Right is deemed rescinded and the transaction relating to the Put Right is deemed cancelled, but this will not terminate the existence of a future Put Right upon the triggering of a future Put Event. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 21.15pt; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>A &#8220;Put Event&#8221; means any date (i) after March 11, 2009 whereby an event has occurred and continues to occur, or (ii) after February 1, 2011 whereby the shares are not listed on a US Securities Market, which means any of the NASDAQ Stock Market, Inc. (Global Market or Global Select Market), Alternext U.S. (f/k/a the American Stock Exchange LLC), the New York Stock Exchange LLC or in conjunction with a dual listing on, or a transfer from, a US Securities Market to one or more of the principal or secondary exchanges for the public trading of equity securities in any of Hong Kong, Tokyo or Singapore. The &#8220;Put Price&#8221; means for (i) shares purchased pursuant to the Purchase Agreement, an aggregate amount equal to the product of (a) the number of shares being sold and (b) US$4.35 and (ii) shares purchased under preemptive right provisions of the amended shareholders&#8217; agreement (the &#8220;Shareholders&#8217; Agreement&#8221;), and aggregate amount equal to the purchase price thereof.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=#ff99cc face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Shareholders&#8217; Agreement does not contain any provisions that impose any purchase, reimbursement or financing obligations on the Company in the event that SOF exercises the Put Right. The Put Right is an obligation solely of PEWC and not of the Company. However, for the avoidance of doubt and as a re-affirmation that the financial and &nbsp;other obligation to SOF in the event of an exercise of the Put Right rest exclusively with PEWC, the Company has, on March 27, 2009, entered into a non-recourse confirmation agreement (the &#8220;Non-recourse Confirmation Agreement&#8221;) with PEWC whereby PEWC (i) covenants that it has no put right against the Company relating to the Put Shares and that PEWC&#8217;s obligations to SOF are without recourse to the Company, (ii) waives any such right should it arise in the future, and (iii) agrees that it shall not cause the Company, directly or indirectly, to incur any costs associated with the exercise of the Put Right.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Shareholders&#8217; Agreement provides, and the Non-recourse Confirmation Agreement confirms, that the Put Right is solely the obligation of PEWC. The Company has no purchase, reimbursement or financing obligations in the event that SOF exercises the Put Right. As such, the Company has classified the Put Shares as equity in the accompanying financial statements.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.05pt; MARGIN: 0in 0in 0pt 35.4pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company received an approval letter from Nasdaq on April 13, 2011 for the listing of its common shares on NASDAQ, with &#8220;APWC&#8221; as the trading symbol and, as noted, on April 29, 2011, the Company&#8217;s common shares commenced trading on NASDAQ Capital Market, which tier does not fit within the definition of a national &#8220;Securities Market&#8221;, as provided in the Shareholders&#8217; Agreement. The Company applied to list the common shares on the NADAQ Global Market after the Company fulfilled NASDAQ&#8217;s requirement for the migration, which included trading price per shares, liquidity requirements, operating history and a diversified shareholder list. The Company&#8217;s common shares began trading on the NASDAQ Global Market effective February 15, 2013. There is no impact on existing shareholders from this change in trading tiers.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter113"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>10</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_114></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader114"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>BASIS OF PREPARATION</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.3pt; MARGIN: 0in 0in 0pt 24.3pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.1</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The consolidated financial statements are prepared in accordance with International Financial Reporting Standard (IFRS) as issued by the International Accounting Standards Board (IASB). </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.3pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.3pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>For all periods up to and including the year ended December 31, 2012, the Company prepared its financial statements in accordance with US generally accepted accounting principles (US GAAP).&nbsp; These financial statements for the year ended December 31, 2013 are the first the Company has prepared in accordance with IFRS as issued by IASB.&nbsp; </FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="LINE-HEIGHT: 7.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The financial statements have been prepared on a historical basis except where otherwise disclosed in the accounting policies. The</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.45pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>consolidated&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.85pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>financial&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 1.15pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>statements&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 1.15pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>are&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.1pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>presented&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.65pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>in&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.2pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>U.S. Dollars</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.1pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>and&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.3pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>all&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.2pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.1pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>v</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>alues&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.35pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>are rounded</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>to&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.75pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>the&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.6pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>nearest&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.45pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>thousand&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.6pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(US$&#8217;000), except</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.4pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>when&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.15pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>otherwise&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 1pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>indicated.&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 49.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.8pt; MARGIN: 0in 0in 0pt 24.8pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.2</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of consolidation</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 21.25pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of December 31, 2013 and 2012 and January 1,2012, and the results of all subsidiaries for the years ended December 31, 2013 and 2012. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Subsidiaries are fully consolidated from the date of acquisition (the date on which the Company obtains control), and continue to be consolidated until the date that such control ceases. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. All intra-group balances, transactions, unrealized gains and losses and dividends resulting from intra-group transactions are eliminated in full.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of comprehensive income, statement of changes in equity and balance sheet respectively. Total comprehensive income within a subsidiary is attributed to the non-controlling interest even if it results in a deficit balance.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Company loses control over a subsidiary, it:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derecognizes the assets (including goodwill) and liabilities of the subsidiary</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derecognizes the carrying amount of any non-controlling interest</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derecognizes the cumulative transaction differences recorded in equity</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Recognizes the fair value of the consideration received</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Recognizes the fair value of any investment retained</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Recognizes any surplus or deficit in profit or loss</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp;&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Reclassifies the parent&#8217;s share of components previously recognized in other comprehensive income to profit or loss&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;or retained earnings, as appropriate, as would be required if the Company had directly disposed of the related assets or liability. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter114"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>11</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_115></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader115"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>BASIS OF PREPARATION (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -51.05pt; MARGIN: 0in 0in 0pt 51.05pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.2</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of consolidation (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The subsidiaries of the Company are set out below:</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0.85pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="54%" colSpan=5>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Percentage of equity interest</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="35%" colSpan=3>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>AS of January 1,</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Place of incorporation and operations</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>The British Virgin Islands </FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>APWC General Holdings Limited</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>PRC (APWC) Holding Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Samray Inc.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Siam (APWC) Holdings Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Moon View Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Trigent Investment Holdings Limited</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Crown Century Holdings Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 9pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Singapore </FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 21.7pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" lang=ES color=black face=arial,sans-serif>Sigma Cable Company (Private) Limited (&#8220;Sigma Cable&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>98.30%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>98.30%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>98.30%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" lang=SV color=black face=arial,sans-serif>Sigma-Epan International Pte Ltd. (&#8220;Sigma-Epan&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Epan Industries Pte Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Epan Data-Comm System Pte Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" lang=SV color=black face=arial,sans-serif>Singvale Pte Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Malaysia </FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Elecain Industry Sdn. Bhd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>92.60%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>92.60%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>92.60%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Sigma-Epan Malaysia Sdn. Bhd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>The People&#8217;s Republic of China (&#8220;PRC&#8221;)</FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=top width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Ningbo Pacific Cable Co., Ltd. (&#8220;Ningbo Pacific&#8221;).</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>95.80%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Shanghai Yayang Electric Co., Ltd. (&#8220;SYE&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>66.35%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>54.41%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>54.41%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 21.7pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Pacific Electric Wire &amp; Cable (Shenzhen) Co., Ltd. (&#8220;PEWS&#8221;).</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Hong Kong </FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 14.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Crown Century Holdings Limited (&#8220;CCH (HK)&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.9pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 4.6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 4.6pt; PADDING-TOP: 0in" width="16%">&nbsp;</TD></TR>
<TR style="HEIGHT: 21.7pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" vAlign=bottom width="43%">
<P style="TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Pacific Electric Wire &amp; Cable (Hong Kong) Limited (&#8220;PEWC (HK)&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>100%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="3%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 21.7pt; PADDING-TOP: 0in" width="16%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -23.6pt; MARGIN: 0in 0in 0pt 23.6pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>-</FONT></FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter115"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>12</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_116></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader116"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>BASIS OF PREPARATION (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -51.05pt; MARGIN: 0in 0in 0pt 51.05pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.2</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Basis of consolidation</FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> </FONT><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(continued)&nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 99%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0.75pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="52%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="47%" colSpan=5>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Percentage of equity interest</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 25.15pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.15pt; PADDING-TOP: 0in" vAlign=top width="52%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.15pt; PADDING-TOP: 0in" vAlign=top width="1%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.15pt; PADDING-TOP: 0in" width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>AS of January 1,</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Place of incorporation and operations</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></I></B><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Australia&nbsp;</FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD></TR>
<TR style="HEIGHT: 25.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Australia Pacific Electric Cable Pty Limited (&#8220;APEC&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.40%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.40%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.40%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>T<FONT style="FONT-SIZE: 9pt" face=Arial>hailand</FONT></FONT></U></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD></TR>
<TR style="HEIGHT: 25.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Charoong Thai Wire and Cable Public Company Limited</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(&#8220;Charoong Thai&#8221;)*</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD></TR>
<TR style="HEIGHT: 25.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Siam Pacific Electric Wire &amp; Cable Company Limited</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(&#8220;Siam Pacific&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD></TR>
<TR style="HEIGHT: 25.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Double D Cable Company Limited (&#8220;Double D&#8221;)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.93%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 25.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>-</FONT></FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>(pre-operating stage) </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">&nbsp;</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Hard Lek Limited.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>73.98%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>73.98%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>73.98%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>APWC (Thailand) Co., Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.48%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.48%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.48%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>PEWC (Thailand) Co., Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.48%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.48%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>99.48%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>CTW Beta Co. Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.89%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.89%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>50.89%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17.3pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Siam Fiber Optics Co. Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30.56%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30.56%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 17.3pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>30.56%</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -8pt; MARGIN: 0in 0in 0pt 14.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0pt 36.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>* Charoong Thai is listed on the Stock Exchange of Thailand and is engaged in the manufacturing of wire and cable products for the power and telecommunications industries in Thailand.&nbsp; </FONT></P>
<P style="MARGIN: 0in 0pt 0pt 23.35pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.55pt; MARGIN: 0in 0in 0pt 34.9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Changes in ownerships in subsidiaries during the years ended December 31, 2013 and 2012 included the following:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 60pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(a)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On June 8, 2012 the Charoong Thai&#8217;s board of directors resolved to set up Double D. Double D registered its incorporation on August 30, 2012 with Baht 20 million-registered capital and it is wholly owned by Charoong Thai.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 60pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(b)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On July 22, 2012 the Company acquired an additional 4.2% shareholding of Ningbo Pacific from PRC joint venture partner. The Company&#8217;s interest in Ningbo Pacific increased from 95.8% to 100%.</FONT></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 60pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(c)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>On August 19, 2013 the CCH (HK)&#8217;s board of directors resolved to acquire a wholly owned Honk Kong company with limited liability (&#8220;subsidiary&#8221;) and the principal activities of the subsidiary is to carry out trading for PEWSC. On October 25, 2013, CCH (HK) acquired 1 million shares of HK$1 each representing 100% of the issued share capital in "PEWC (HK)".</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter116"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>13</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_117></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader117"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.1</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Current versus non-current classification</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company presents assets and liabilities in the balance sheets based on current and non-current classification. An asset as current when it is:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Expected to be realized or intended to be sold or consumed in the normal operating cycle;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Held primarily for the purpose of trading;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Expected to be realized within twelve months after the reporting period; or</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>All other assets are classified as non-current. A liability is current when:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>It is expected to be settled in normal operating cycle;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>It is held primarily for the purpose of trading;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>It is due to be settled within twelve months after the reporting period; or</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company classifie<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> all other liabilities as non-current.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Deferred tax assets and liabilities are classified as non-current assets and liabilities.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.2pt"><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.2</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Operating profit</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 48pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The operating profit is the profit earned from core business operations.&nbsp; The value does not include any profit earned from investment and the effects of interest and taxes.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 48pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.4pt; MARGIN: 0in 0in 0in 49.65pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.3</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Fair value measurement</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company measures financial instruments at fair value at each balance sheet date. In addition, fair values of financial instruments measured at amortized cost are disclosed in Note 18.4.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In the principal market for the asset or liability, or</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In the absence of a principal market, in the most advantageous market for the asset or liability.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The principal or the most advantageous market must be accessible to by the Company. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Level 1 &#8212; Quoted (unadjusted) market prices in active markets for identical assets or liabilities</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Level 2 &#8212; Valuation techniques for which the lowest level input that is significant to the fair value measurement&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.6in; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>is directly or indirectly observable</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Level 3 &#8212; Valuation techniques for which the lowest level input that is significant to the fair value measurement </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 47.7pt; MARGIN: 0in 0in 0in 65.2pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>is unobservable</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based </FONT></P>
<a name="_bclFooter117"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>14</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_118></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader118"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.&nbsp;&nbsp; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.6pt; MARGIN: 0in 0in 0in 52.5pt"><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.3</FONT></B><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Fair value measurement (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.75pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11.5pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.4</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Cash and cash equivalents in the consolidated balance sheet comprise of cash at banks and highly liquid investments with purchased maturities of three months or less. These investments are stated at cost plus accrued interest, which is similar to their market value.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For the purpose of the consolidated statements of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts, if applicable.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.5</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Inventories&nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Inventories are stated at the lower of cost and net realizable value. Cost is determined on the weighted average basis and, in the case of work in progress and finished goods, comprises direct materials, direct labor and an appropriate proportion of overheads based on the normal operating capacity. Net realizable value is based on estimated selling prices less any estimated costs to be incurred to completion and the estimated cost necessary to make the sale.</FONT></P>
<P style="TEXT-INDENT: 3.4pt; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.6</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Property, Plant and Equipment</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Property, plant and equipment is stated at cost, net of accumulated depreciation and any accumulated impairment losses. Such cost includes the cost of replacing part of the property, plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, is normally charged to profit or loss in the period in which it is incurred. In situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalized in the carrying amount of the asset as a replacement. When significant parts of property, plant and equipment are required to be replaced at intervals, the Company recognizes such parts as individual assets with specific useful lives and depreciates them accordingly. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Spare parts and servicing equipment are usually carried as inventory and recognized in profit or loss as consumed. However, major spare parts and stand-by equipment qualify as property, plant and equipment when an entity expects to use them for more than one year. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. A provision shall be recognized when: </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 68.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(a)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>an entity has a present obligation (legal or constructive) as a result of a past event; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 68.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(b)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 68.9pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(c)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>a reliable estimate can be made of the amount of the obligation. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05in 0in 0pt 53.85pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>If these conditions are not met, no provision shall be recognized.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter118"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>15</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_119></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader119"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.6</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Property, Plant and Equipment (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Depreciation</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 256.849pt; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 51.05pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Buildings&nbsp;</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="32%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>20-30 years</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Building improvement</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="32%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5-20 years</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Machinery and equipment </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="32%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5-15 years</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Motor vehicles</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="32%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>3-10 years</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Office equipment</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="32%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>3-10 years</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when the asset is derecognized.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The assets&#8217; residual values (presumably nil), useful lives and methods of depreciation are reviewed at each financial year end, and adjusted prospectively, if appropriate.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Impairment</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>If circumstances arise which indicate assets might be impaired, a review should be undertaken of their cash generating abilities through either use or sales. This review will produce an amount, which should be compared with the asset&#8217;s carrying value, and if the carrying value is higher, the difference must be written off as an impairment adjustment in the income statement. Further detailed methodology used for an impairment test is given in Note 3.11 - Impairment of non-financial assets.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.7</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Leases&nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception date. The arrangement is assessed for whether fulfillment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><I><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Finance leases</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Finance leases that transfer substantially all the risks and benefits incidental to ownership of the leased item to the Company, are capitalized at the commencement of the lease at the fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned between the finance charges and reduction of the lease liability to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognized in finance costs in the income statement. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.55pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.55pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Company will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.55pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><I><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Operating leases</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.55pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Operating lease payments are recognized as an operating expense in the income statement on a straight-line basis over the lease term.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.55pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.55pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Prepaid land lease payments under operating leases are initially stated at cost and subsequently recognized on the straight-line basis over the lease terms. The prepaid land lease payments should be presented current and non-current assets on the face of balance sheet, depending on the amount to be recognized less or more than twelve months after the reporting period. </FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter119"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>16</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_120></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader120"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0in 51.6pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.8</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Borrowing Costs</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Borrowing costs are required to be capitalized as part of the cost of the asset if they are directly attributable to the acquisition, construction or productions of a qualifying asset (whether or not the funds have been borrowed specifically). All other borrowing costs are recognized as an expense in the period in which they are incurred. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A qualifying asset is an asset that necessarily takes a substantial period to get ready for its intended use or sale.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Borrowing costs include:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0in 75.15pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>interest expense calculated using the effective interest method;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0in 75.15pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>finance charges in respect of finance leases; and</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0in 75.15pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs. Exchange differences are generally regarded as borrowing costs only to the extent that the combined borrowing costs, including exchange differences, approximate the amount of borrowing costs on functional currency equivalent borrowings.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For specific borrowings, the borrowing costs eligible for capitalization are the actual borrowing costs incurred related to funds that are borrowed specifically to obtain a qualifying asset less any investment income earned on the temporary investment of those borrowings.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For general borrowings, the capitalization rate applied to borrowing costs on the consolidation level will be based on cash management strategy, which might be the weighted average of the group borrowings outstanding during the period.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.9</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Investment Properties </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Investment properties are properties held to earn rentals and/or for capital appreciation (including property under construction for such purposes). Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are carried at historical cost less provisions for depreciation and impairment. Additional costs incurred subsequent to the acquisition of an asset increase the carrying amount of the asset or recognized as a separate asset if it is probable that future economic benefits associated with the assets will flow into the Company and the cost of an asset can be measured reliably. Routine maintenance and repairs are expensed as incurred. While land is not depreciated, all other investment property is depreciated based on the respective assets estimated useful lives ranging from 20 to 30 years using the straight-line method. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. An investment property is derecognized upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in income or loss in the period in which the property is derecognized.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>International Accounting Standards (&#8220;IAS&#8221;) 40 requires note disclosure about the fair value of any investment property recorded at cost. See Note 16 &#8211; Investment Properties.</FONT></P>
<a name="_bclFooter120"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>17</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_121></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader121"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Financial Instruments </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(i)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Initial recognition and measurement</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets within the scope of IAS 39 are classified as financial assets at fair value through profit or loss, loans and receivables, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The Company determines the classification of its financial assets at initial recognition.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>All financial assets are recognized initially at fair value plus transaction costs, except in the case of financial assets recorded at fair value through profit or loss.&nbsp; Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Company commits to purchase or sell the asset.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Subsequent measurement</FONT></I></B></P>
<P style="TEXT-INDENT: 1.2pt; MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The subsequent measurement of financial assets depends on their classification as described below:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets at fair value through profit or loss</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets at fair value through profit or loss are carried in the </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> at fair value with net changes in fair value presented as finance costs (negative net changes in fair value) or finance income (positive net changes in fair value) in the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derivatives not designated as hedging instruments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A derivative is a financial instrument or other contract within the scope of IAS 39 with all of the following characteristics:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(a)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, a credit rating or credit index, or other variable, provided in the case of a non-financial variable that the variable is not specific to a party to the contract (sometimes called the 'underlying'); </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(b)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>it requires no initial net investment, or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; and </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0in 68.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(c)</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>it is settled at a future date. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Fair value is the measurement basis for all financial instruments meeting the definition of a derivative.&nbsp; Change in fair value of non-hedged item is recorded in profit and loss. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter121"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>18</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_122></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader122"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Financial Instruments&nbsp; (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Loans and receivables</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. After initial measurement, such financial assets are subsequently measured at amortized cost using the effective interest rate (EIR) method, less impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the income statement. The losses arising from impairment are recognized in the other operating expenses for receivables.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Held-to-maturity investments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Non-derivative financial assets with fixed or determinable payments and fixed maturities are classified as held to maturity when the Company has the positive intention and ability to hold them to maturity. After initial measurement, held to maturity investments are measured at amortized cost using the EIR, less impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance income or finance cost in the income statement. The losses arising from impairment are recognized in the income statement in finance costs.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Available-for-sale financial investments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Available-for-sale financial investments include equity investments and debt securities. Equity investments classified as available for sale are those that are neither classified as held for trading nor designated at fair value through profit or loss. Debt securities in this category are those that are intended to be held for an indefinite period of time and that may be sold in response to needs for liquidity or in response to changes in the market conditions.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>After initial measurement, available-for-sale financial investments are subsequently measured at fair value with unrealized gains or losses recognized as other comprehensive income in the available-for-sale reserve until the investment is derecognized, at which time the cumulative gain or loss is recognized in other income, or the investment is determined to be impaired, when the cumulative loss is reclassified from the available-for-sale reserve to the income statement in finance costs. Interest earned whilst holding available-for-sale financial investments is reported as finance income using the EIR method.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For a financial asset reclassified out of the available-for-sale category, the fair value carrying amount at the date of reclassification becomes its new amortized cost and any previous gain or loss on the asset that has been recognized in equity is amortized to profit or loss over the remaining life of the investment using the EIR. Any difference between the new amortized cost and the maturity amount is also amortized over the remaining life of the asset using the EIR. If the asset is subsequently determined to be impaired, then the amount recorded in equity is reclassified to the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derecognition</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is derecognized when:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&#61548;The rights to receive cash flows from the asset have expired, or</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 64.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&#61548;The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a &#8216;pass-through&#8217; arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter122"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>19</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_123></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader123"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Financial Instruments (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derecognition (continued)</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the asset is recognized to the extent of the Company&#8217;s continuing involvement in the asset. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(ii)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;Impairment of financial assets </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company assesses, at each reporting date, whether there is objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if there is objective evidence of impairment as a result of one or more events that has occurred since the initial recognition of the asset (an incurred &#8216;loss event&#8217;) and that loss event has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated. Evidence of impairment may include indications that the debtors or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization and observable data indicating that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets carried at amortized cost</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For financial assets carried at amortized cost, the Company first assesses whether objective evidence of impairment exists individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant. If the Company determines that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be, recognized are not included in a collective assessment of impairment.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>If there is objective evidence that an impairment loss has been incurred, the amount of the loss is measured as the difference between the asset&#8217;s carrying amount and the present value of estimated future cash flows (excluding future expected credit losses that have not yet been incurred). The present value of the estimated future cash flows is discounted at the financial asset&#8217;s original effective interest rate. If a loan has a variable interest rate, the discount rate for measuring any impairment loss is the current EIR.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The carrying amount of the asset is reduced through the use of an allowance account and the loss is recognized in profit or loss. Interest income continues to be accrued on the reduced carrying amount and is accrued using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. The interest income is recorded as finance income in the income statement. Loans together with the associated allowance are written off when there is no realistic prospect of future recovery and all collateral has been realized or has been transferred to the Company. If, in a subsequent year, the amount of the estimated impairment loss increases or decreases because of an event occurring after the impairment was recognized, the previously recognized impairment loss is increased or reduced by adjusting the allowance account. If a write-off is later recovered, the recovery is credited to finance costs in the income statement.</FONT></P>
<a name="_bclFooter123"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>20</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_124></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader124"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Financial Instruments (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -128.65pt; MARGIN: 0in 0in 0pt 179.65pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(ii)&nbsp; Impairment of financial assets (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -419pt; MARGIN: 0in 0in 0pt 470pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Trade receivables impairment</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For trade receivables, impairment assessment is performed firstly on an individual basis: </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A financial asset is impaired (and impairment losses are determined) if, and only if, there is objective evidence of impairment as a result of one or more events that occurred after initial recognition (a 'loss event') and that loss event (or events) has an impact on the estimated future cash flows of the financial asset that can be reliably estimated.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Objective evidence that a financial asset or group of assets is impaired includes observable data that comes to the attention of the holder about the following loss events: </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0pt 75.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>significant financial difficulty of the issuer or obligor; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>breach of contract, such as a default or delinquency in interest or principal payments; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>the lender, for economic or legal reasons relating to the borrower's financial difficulty, granting to the borrower a concession that would not otherwise be considered; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>it becoming probable that the borrower will enter bankruptcy or other financial reorganization; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>the disappearance of an active market for that asset because of financial difficulties (but not simply because the asset is no longer publicly traded ; or </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>observable data indicating that there is a measurable decrease in the estimated future cash flows from a Company of financial assets since initial recognition, although the decrease cannot yet be identified with the individual assets in the Company, including: </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 99.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=wingdings>l</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>adverse changes in the payment status of borrowers in the Company (e.g. an increased number of delayed payments); or </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 99.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=wingdings>l</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>national or local economic conditions that correlate with defaults on the assets in the Company.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For trade receivables that have been individually assessed, but for which there is no objective evidence of impairment, the review for impairment is performed on a group basis, based on similar credit risk characteristics.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Available<FONT style="FONT-SIZE: 9pt" face=Arial>-</FONT>for-sale financial investments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For available-for-sale financial investments, the Company assesses at each reporting date whether there is objective evidence that an investment or a Company of investments is impaired.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In the case of equity investments classified as available-for-sale, objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. &#8216;Significant&#8217; is evaluated against the original cost of the investment and &#8216;prolonged&#8217; against the period in which the fair value has been below its original cost. The Company's policy considers a significant decline to be one in which the fair value is below the weighted average original cost by more than 20%. A prolonged decline is considered to be one in which the fair value is below the weighted average original cost for a period of more than 12 months. When there is evidence of impairment, the cumulative loss &#8211; measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that investment previously recognized in the income statement &#8211; is removed from other comprehensive income and recognized in the income statement. Impairment losses on equity investments are not reversed through profit or loss; increases in their fair value after impairment are recognized directly in other comprehensive income.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter124"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>21</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_125></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader125"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Financial Instruments (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 75pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Available for sale financial investments (continued)</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In the case of debt instruments classified as available for sale, impairment is assessed based on the same criteria as financial assets carried at amortized cost. However, the amount recorded for impairment is the cumulative loss measured as the difference between the amortized cost and the current fair value, less any impairment loss on that investment previously recognized in the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Future interest income continues to be accrued based on the reduced carrying amount of the asset, using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. The interest income is recorded as part of finance income. If, in a subsequent year, the fair value of a debt instrument increases and the increase can be objectively related to an event occurring after the impairment loss was recognized in the income statement, the impairment loss is reversed through the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -12.7pt; MARGIN: 0in 0in 0in 63.8pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(iii)Financial liabilities</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial liabilities initial recognition and measurement</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial liabilities within the scope of IAS 39 are classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The Company determines the classification of its financial liabilities at initial recognition.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s financial liabilities include trade and other payables, bank overdrafts and interest-bearing loans and borrowings.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Subsequent measurement</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The measurement of financial liabilities depends on their classification as described below:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Loans and borrowings</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Derecognition</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A financial liability is derecognized when the obligation under the liability is discharged or cancelled, or expires. When an existing financial liability is replaced by another from the same lender on substantially different&nbsp; terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the income statement.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -16.1pt; MARGIN: 0in 0in 0in 66.5pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(iv)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Offsetting of financial instruments</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets and financial liabilities are offset and the net amount is reported in the consolidated </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.</FONT></P>
<a name="_bclFooter125"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>22</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_126></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader126"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Financial Instruments (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 65.25pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>(v)</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;Fair value of financial instruments</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 65.25pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The fair value of financial instruments that are traded in active markets at each reporting date is determined by reference to quoted market prices or dealer price quotations (bid price for long positions and ask price for short positions), without any deduction for transaction costs.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For financial instruments not traded in an active market, the fair value is determined using appropriate valuation techniques. Such techniques may include:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&#61548;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> &nbsp; Using recent arm&#8217;s length market transactions</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&#61548;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> Reference to the current fair value of another instrument that is substantially the same</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&#61548;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> A discounted cash flow analysis or other valuation models</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.11</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Impairment of non-financial assets</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset&#8217;s recoverable amount. An asset&#8217;s recoverable amount is the higher of an asset&#8217;s or cash-generating unit&#8217;s (CGU) fair value less costs to sell and its value in use. A cash generating unit (CGU) is the smallest group of assets that generates cash inflows that are largely independent of the cash flows from other assets or groups of assets. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or Company of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to sell, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Company&#8217;s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of five years. For longer periods, a long-term growth rate is calculated and applied to project future cash flows after the fifth year.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Impairment losses of continuing operations, including impairment on inventories, are recognized in the income statement in expense categories consistent with the function of the impaired asset.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or have decreased. If such indication exists, the Company estimates the asset&#8217;s or CGU&#8217;s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset&#8217;s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the income statement.</FONT></P>
<a name="_bclFooter126"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>23</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_127></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader127"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -43.1pt; MARGIN: 0in 0in 0pt 43.1pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.12</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;Intangible assets</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Computer software</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.65pt; MARGIN: 0in 0in 0pt 51.7pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The costs of acquiring software is capitalized separately as an intangible asset on the basis of the costs incurred to acquire and bring to use the specific software. Acquired software (licenses) is stated at cost less accumulated amortization and impairment losses. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0.65pt; MARGIN: 0in 0in 0pt 51.7pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Amortization of software applications is charged to operating expenses and/or cost on a straight-line basis over their estimated useful lives, from the date they are available for use. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The residual values and useful lives are reviewed at each balance sheet date and adjusted, if appropriate.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.13</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Taxes&nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Current income tax</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities.&nbsp; The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in the countries where the Company operates and generates taxable income.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Current income tax relating to items recognized directly in equity is recognized in equity and not in the income statement. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax liabilities are recognized for all taxable temporary differences, except:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 0pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; &nbsp; When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 0pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp; In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 0pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&#61548;When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 0pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp; In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter127"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>24</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_128></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader128"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -43.1pt; MARGIN: 0in 0in 0pt 43.1pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.6pt; MARGIN: 0in 0in 0in 51.8pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.13</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Taxes&nbsp;</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(continued)&nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in other comprehensive income or directly in equity.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>same taxation authority.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Uncertain tax position</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>An entity&#8217;s tax position might be uncertain; for example, where the tax treatment of an item of expense or structured transaction may be challenged by the tax authorities. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Local management should consider each uncertain tax positions individually, by first consider whether each position taken in the tax return is probable of being sustained on examination by the taxing authority. It should recognize a liability for each item that is not probable of being sustained. The liability then is measured using a single best estimate of the most likely outcome. The uncertain tax positions are presented in the current tax liability is the total liability for uncertain tax positions. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; &nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.14</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Revenue recognition</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duty. The Company assesses its revenue arrangements against specific criteria to determine if it is acting as principal or agent. The specific recognition criteria described below must also be met before revenue is recognized.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Sale of manufactured goods and distributed products</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Revenue from the sale of goods is recognized when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on delivery of the goods.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Supply, Delivery and Installation (&#8220;SDI&#8221;)</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s supply, delivery and installation services are considered as multiple elements arrangements and are accounted for in accordance with IAS 18. The sale of cables and the installation service are considered as one single arrangement. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Revenue of SDI is accounted for using the percentage-of-completion method, based on the customer certification of the distance of cable laid with respect to the estimated total contract revenue, and in accordance with IAS 11. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter128"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>25</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_129></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader129"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.6pt; MARGIN: 0in 0in 0pt 64.65pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 56.75pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.14</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Revenue recognition</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif> </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>(continued)&nbsp;</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>When the current estimates of total contract revenue and contract cost indicate a loss, a provision for the entire loss on the contract shall be made. The recognition of provision for losses shall be in the period in which they become evident. On a quarterly basis, the Company should review the budget and forecast whether a loss provision should be recorded.</FONT><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> &nbsp;</FONT></B></P>
<P style="TEXT-INDENT: 25.5pt; MARGIN: 0in 0in 0pt 24.1pt"><B><I><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Onerous operating contracts</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 49.45pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Onerous contract is a type of contract in which the costs of meeting the obligations under the contract are higher than the economic benefits received under the contract. </FONT></P>
<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company has contracts to supply products that cost more to produce than originally determined in the contracts due to a rise in raw material costs. The Company established the unavoidable costs of meeting the obligations under the contract as a liability for the contractual responsibilities. The liability has been calculated based on the difference between the copper price on the London Metal Exchange (&#8216;the LME&#8221;) at reporting date and the prices determined in the contracts.&nbsp; As of December 31, 2013 and 2012 and January 1, 2012 the amount of onerous contracts was $125, $291 and $72,respectively.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Bill and hold transaction</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For a 'bill and hold' sales transaction, where delivery is delayed at the buyer's request, but the buyer takes title and accepts billing, the Company&#8217;s policy is not to recognize revenue until the delivery is made.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Rebates</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Based on IAS 18, the amount of revenue arising on a transaction is usually determined by agreement between the entity and the buyer or user of the asset. It is measured at the fair value of the consideration received or receivable taking into account the amount of any trade discounts and volume rebates allowed by the entity. Consequently, where an entity provides sales incentives to a customer when entering into a contract these are usually treated as rebates and will be included in the measurement of (i.e. deducted from) revenue when the goods are delivered or services provided.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Provisions for rebates based on attainment of sales targets are estimated and accrued as each of the underlying sales transactions is recognized.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Provision for rebate should only be recorded when there is a contractually formal signed rebate contract exists. </FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>At interim dates, if no reliable estimate can be made, the revenue recognized on the transaction should not exceed the consideration that would be received if the maximum rebates were taken. Therefore, the local management should assume that the customers will achieve the necessary sales volume target to earn the maximum rebate. The provisions are subject to continuous review and adjustment as appropriate based on the most recent information available to management.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>As of the balance sheet date, local management should recalculate and adjust the provision for rebate based on the actual sales.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Interest income</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For all financial instruments measured at amortized cost and interest bearing financial assets classified as available for sale, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the income statement.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Rental income</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Rental income arising from operating leases on investment properties is accounted for on a straight-line basis over the lease terms and is included in revenue due to its operating nature.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Dividends</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Revenue is recognized when the Company&#8217;s right to receive the payment is established, which is generally when shareholders approve the dividend.</FONT></P>
<a name="_bclFooter129"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>26</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_130></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader130"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.15</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Foreign currencies</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s consolidated financial statements are presented in USD, which is also the parent company&#8217;s functional currency. For each entity the Company determines the functional currency and items included in the financial statements of each entity are measured using that functional currency.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Transactions and balances</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Transactions in foreign currencies are initially recorded by the Company&#8217;s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Differences arising on settlement or translation of monetary items are recognized in profit or loss with the exception of monetary items that are designated as part of the hedge of the Company&#8217;s net investment of a foreign operation. These are recognized in other comprehensive income until the net investment is disposed of, at which time, the cumulative amount is reclassified to profit or loss. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in other comprehensive income.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of gain or loss on change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in other comprehensive income or profit or loss are also recognized in other comprehensive income or profit or loss, respectively).</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0pt 51pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Translation to the presentation currency</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0pt 51.55pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The results and financial position of an entity whose functional currency shall be translated into a different presentation currency using the following procedures: </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0pt 51pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0pt 75.15pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>a.</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>assets and liabilities for each balance sheet presented(ie including comparatives) shall be&nbsp; translated at the closing rate at the date of that balance sheet; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0pt 75.15pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>b.</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>income and expenses for each statement presenting profit or loss and other comprehensive income (ie including comparatives) shall be translated at exchange rates at the dates of the transactions; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0pt 75.15pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>c.</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>all resulting exchange differences shall be recognized in other comprehensive income; and</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.1pt; MARGIN: 0in 0in 0pt 75.15pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>d.</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>for equity items, the historical rate is used; therefore, these equity items are not retranslated.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter130"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>27</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_131></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader131"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.16</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Employee benefits</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company has both defined contribution and defined benefit obligation. The liabilities of the Company arising from defined benefit obligations, and the related current service cost, are determined using the projected unit credit method. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>For defined benefit plans, the cost charged to the income statement consists of current service cost, net interest cost and past service cost.&nbsp; Re-measurements, comprising of actuarial gains and losses but excluding net interest are recognized immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they occur.&nbsp; Re-measurements are not reclassified to profit or loss in subsequent periods.&nbsp; Contributions to defined contribution plans are charged to the income statement as incurred.&nbsp; All past service costs are recognized at the earlier of when the amendment occurs.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Significant amendment plan</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Whenever there is a significant amendment or settlement of plan to the Company's pension benefit, the local management should engage a qualified actuary to perform the re-measurement of pension obligation.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Compensated absence</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The cost of accumulating paid absences should be recognized when employees render the service that increases their entitlement to future paid absences. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The cost of accumulating paid absences should be measured as the additional amount that the entity expects to pay as a result of the unused entitlement that has accumulated at the end of the reporting period.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.17</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Earnings per share</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company presents basic and diluted earnings per share (&#8220;EPS&#8221;) data for its common shares. Basic EPS is calculated by dividing the net income attributable to shareholders of the Company by the weighted average number of common shares outstanding during the period, adjusted for own shares held. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In calculating diluted EPS, the number of shares should be that used in calculating the basic EPS, plus the weighted average number of shares that would be issued on the conversion of all the dilutive potential common shares into common shares. The earnings figure should be that used for basic EPS adjusted to reflect any post-tax effects from changes that would arise if the potential shares outstanding in the period were actually issued.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.18</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Treasury shares</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity.&nbsp; No gain or loss is recognized in the profit or loss on the purchase, sale, issue or cancellation of the Company&#8217;s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized in additional paid-in capital. Voting rights related to treasury shares are nullified and no dividends are allocated to them.</FONT></P>
<a name="_bclFooter131"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>28</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_132></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader132"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.19</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Investments in an associate</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s investment in its associates are accounted for using the equity method. An associate is an entity in which the Company has significant influence. Under the equity method, the investment is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Company&#8217;s share of net assets of the associate since the acquisition date. Goodwill relating to the associate is included in the carrying amount of the investment and is neither amortized nor individually tested for impairment.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The income statement reflects the Company&#8217;s share of the results of operations of the associate. Any change in other comprehensive income of those investees is presented as part of the Company&#8217;s other comprehensive income.&nbsp; When there has been a change recognized directly in the equity of the associate, the Company recognizes its share of any changes, when applicable, in the statement of changes in equity. Unrealized gains and losses resulting from transactions between the Company and the associate are eliminated to the extent of the interest in the associate.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s share of profit or loss of an associate is shown on the face of the income statement and represents profits or loss after tax and non-controlling interests in the subsidiaries of the associate. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The financial statements of the associate are prepared for the same reporting period as the Company. When necessary, adjustments are made to bring the accounting policies in line with those of the Company.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>After application of the equity method, the Company determines whether it is necessary to recognize an impairment loss on its investment in its associate. The Company determines at each reporting date whether there is any objective evidence that the investment in associates is impaired. If this is the case, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the amount in &#8220;Share of losses of associates&#8221; in the income statement. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Upon loss of significant influence over the associate, the Company measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retaining investment and proceeds from disposal is recognized in profit or loss.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.20</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Government grant</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, which it is intended to compensate, are expensed.&nbsp; When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.21</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Non-current assets held for sale</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company classifies non-current assets and disposal groups as held for sale/distribution to owners if their carrying amounts will be recovered principally through a sale/distribution rather than through continuing use. Non-current assets and disposal groups are measured at the lower of their carrying amount and fair value less costs to sell. The criteria for held for sale classification is regarded met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification.&nbsp; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Property, plant and equipment and intangible assets once classified as held for sale/distribution to owners are not depreciated or amortized. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>When equity method investments are classified as held for sale, the investor discontinues the use of the equity method from the date that the investment (or the portion of it) is classified as held for sale; instead, the associate or joint venture is then measured at the lower of its carrying amount and fair value less cost to sell.</FONT></P>
<a name="_bclFooter132"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>29</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_133></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader133"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.5pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 0in 43.1pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.22</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;Significant accounting judgements, estimates and assumptions</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The preparation of the Company&#8217;s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Judgements</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In the process of applying the Company&#8217;s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the consolidated financial statements:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Bill and hold transaction</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Revenue from sale of goods is recognized when the significant risks and rewards of ownership of the goods have been transferred to the buyer, usually on delivery of the goods. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Estimates and assumptions</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions when they occur.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Impairment of non-financial assets</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>At each reporting date or whenever events indicate that the asset&#8217;s value has declined or significant changes in the market with an adverse effect have taken place, the Company assesses whether there is an indication that an asset in the scope of IAS 36 may be impaired. If any indication exists, the Company completes impairment testing for the CGU to which the individual assets belong. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. The recoverable amount of an individual asset or CGU is the higher of fair value less costs to sell and its value in use. The fair value less costs to sell is based on best information available to reflect the amount that an entity could obtain from the disposal of the asset in an arm&#8217;s length transaction between knowledgeable, willing parties, after deducting the costs of disposal. The value in use is measured at the net present value of the future cash flows the entity expects to derive from the asset or CGU. Cash flow projection involves subjective judgments and estimates which include the estimated useful lives of property, plant and equipment, capacity that generates future cash flows, capacity of physical output, potential fluctuations of economic cycle in the industry and the Company&#8217;s operating situation.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Fair value disclosure of investment properties</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company carries its investment properties at cost, and discloses the fair value of the investment properties in footnotes.&nbsp; The Company engaged an independent valuation specialist to assess fair value. The valuation has been made on the assumption to sell the property interests on the open market in the neighborhood without the benefit of any deferred term contract, leaseback, joint venture, management agreement or any similar arrangement which would serve to increase the value of the property interests. The method of valuation used to determine the fair value of the investment properties is provided in Note 16.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter133"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>30</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_134></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader134"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>3.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.22</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Significant accounting judgements, estimates and assumptions (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The fair value of financial instruments</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Where the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be derived from active markets, they are determined using valuation techniques including income approach (for example, the discounted cash flows model) or the market approach. Changes in assumptions about these factors could affect the reported fair value of the financial instruments. Please refer to Note 18 for more details.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Impairment of trade receivables</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company maintains an allowance for estimated loss arising from the inability of its customers to make the required payments. The Company makes its estimates based on the ageing of its trade receivable balances, customers&#8217; creditworthiness, and historical write-off experience. If the financial condition of its customers was to deteriorate so that the actual impairment loss might be higher than expected, the Company would be required to revise the basis of making the allowance and its future result would be affected.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Refer to Note 20 and Note 27 for more information regarding the impairment of trade receivables and the related credit risks.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Net realizable value of inventory </FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Net realized value is the estimated selling price in the ordinary course of business less estimated costs to completion and the estimated costs necessary to make the sale. Management makes reference to actual sales prices after reporting date when making their estimate of net realizable value.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Refer to Note 19 for more information regarding the net realizable value of inventory. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Taxes</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Uncertainties exist with respect to the interpretation of complex tax regulations, changes in tax laws, and the amount and timing of future taxable income. Given the wide range of international business relationships and the long-term nature and complexity of existing contractual agreements, differences arising between the actual results &nbsp;and the assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax income and expense already recorded. The Company establishes provisions, based on reasonable estimates, for possible consequences of audits by the tax authorities of the respective counties in which it operates. The amount of such provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority. Such differences of interpretation may arise on a wide variety of issues depending on the conditions prevailing in the respective domicile of the Company companies.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>As of December 31, 2013, the Company has $7,739 (2012:$4,219) of tax losses carried forward. These losses related to subsidiaries that have a history of losses, do not expire and may not be used to offset taxable income elsewhere in the Company except for $194 (2012: $nil) that will be realized. The subsidiaries do not have any tax planning opportunities available that could support the recognition of these losses as deferred tax assets. On this basis, the Company has determined that it cannot recognize deferred tax assets on the tax losses carried forward. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>If the Company was able to recognize all unrecognized deferred tax assets, profit and equity would have increased by $1,566 (2012:$1,341). Further details on taxes are disclosed in Note 11.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Post-employment benefits under defined benefit plans </FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> accordance with the Thailand labor law, Charoong Thai and its subsidiaries are obliged to make payment to retiring employees, at rate of 1 to 10 times of their monthly salary rate, depending on the length of service. &nbsp;In addition, Charoong Thai also has the extra benefit plan to make payment to qualified retiring employees 29 times of their final monthly salary.</FONT></P>
<a name="_bclFooter134"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>31</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_135></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader135"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 53.6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>3.23</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Significant accounting judgements, estimates and assumptions (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Post-employment benefits under defined benefit plans (continued)</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The cost of the defined benefit pension plan and the present value of the pension obligation are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. Due to the complexity of the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In determining the appropriate discount rate, management considers the limited corporate bond in Thailand, taken into account the yields on Thai Government Bonds and extrapolated maturity corresponding to the expected duration of the defined benefit obligation.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The mortality rate is based on most recent mortality investigation on policyholders of life insurance companies in Thailand. Future salary increases and pension increases are based on expected future inflation rates derived from external economic data and together with historical experience of Charoong Thai. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Further details about the assumptions used, including a sensitivity analysis, are given </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>in Note 23.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51.05pt"><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Revenue recognition of SDI projects</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Changes in percentage of completion would result in changes in contract costs recognised in the statement of comprehensive income during the year. Significant estimation by management is also required in assessing the recoverability of the contracts based on estimated total contract revenue and contract costs.&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In making the estimation, management&#8217;s evaluation is based on the actual level of work performed and past experience.</FONT></P>
<a name="_bclFooter135"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>32</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_136></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader136"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 69.45pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>These financial statements, for the year ended December 31, 2013, are the first the Company has prepared in accordance with IFRS. For periods up to and including the year ended December 31, 2012, the Company prepared its financial statements in accordance with US GAAP.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Accordingly, the Company has prepared financial statements which comply with IFRS applicable for periods ending on or after December 31, 2013, together with the comparative period data as of &nbsp;and for the year ended December 31, 2012, as described in the summary of significant accounting policies. In preparing these financial statements, the Company&#8217;s opening </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> was prepared as of January 1, 2012, the Company&#8217;s date of transition to IFRS. This note explains the principal adjustments made by the Company in restating its US GAAP financial statements, including the </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> as of January 1, 2012 and the financial statements as of and for the year ended December 31, 2012.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>IFRS 1 requires retrospective application for all IFRS standards effective at the reporting date except for certain mandatory exceptions and optional exemptions from retrospective application.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 49.5pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>a)&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Mandatory exceptions</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.5pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 49.6pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company has applied the following mandatory exceptions to the retrospective application requirement of IFRS:</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 15.05pt; MARGIN: 0in 0in 0pt 19.85pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman"> &nbsp;</FONT><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Estimates&nbsp;</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.2pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Estimates made in accordance with IFRS at transition date, and in the comparative period of the first audited IFRS financial statements, shall remain consistent with those determined under US GAAP with adjustments made only to reflect any differences in accounting policies. Under IFRS 1, the use of hindsight is not permitted to adjust estimates made in the past under US GAAP that were based on the information that was available at the time of estimate was determined. Any additional estimates that are required under IFRS, that were not required under US GAAP, are based on the information and conditions that exist at the transition date and in the comparative period of the first audited IFRS financial statements. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 15.05pt; MARGIN: 0in 0in 0pt 19.85pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman"> &nbsp;</FONT><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Derecognition of financial assets and financial liabilities</FONT></I></P>
<P style="MARGIN: 0in 0in 0pt 2.4pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Financial assets and liabilities that were derecognition before January 1, 2012 pursuant to US GAAP were not recognized under IFRS. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: 15.05pt; MARGIN: 0in 0in 0pt 19.85pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman"> &nbsp;</FONT><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Non-controlling interests</FONT></I></P>
<P style="MARGIN: 0in 0in 0pt 40.55pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Non-controlling interests are classified and measured according to IFRS 10. The Company will apply prospectively certain IFRS 10 requirements from the date of transition to IFRS. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 51pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The following mandatory exceptions provided by IFRS 1 have not been applied since they are not relevant to the Company:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; &nbsp;</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Hedge accounting</FONT></P>
<P style="TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; &nbsp;</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Classification and measurement of financial assets</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; &nbsp;</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Embedded derivatives</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; &nbsp;</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;Government loans</FONT></P>
<a name="_bclFooter136"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>33</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_137></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader137"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS&nbsp; (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 49.5pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>b)&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Optional exemptions</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.6pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company has elected the following optional exemptions from the retrospective application of certain requirements under IFRS:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Cumulative currency translation differences for all foreign operations are deemed to be zero as of January 1, 2012.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 66.65pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.65pt; MARGIN: 0in 0in 0pt 49.65pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>IFRS 3 Business Combinations has not been applied to acquisitions of subsidiaries, which are considered businesses for IFRS, or of interests in associates that occurred before January 1,&nbsp;2012. Use of this exemption means that the&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>US</FONT> GAAP carrying amounts of assets and liabilities, that are required to be recognized under IFRS, is their deemed cost at the date of the acquisition. After the date of the acquisition, measurement is in accordance with IFRS. Assets and liabilities that do not qualify for recognition under IFRS are excluded from the opening IFRS balance sheet. The Company did not recognize or exclude any previously recognized amounts as a result of IFRS recognition requirements.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt"><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company has applied the transitional provisions in IAS 23 Borrowing Costs and capitalizes borrowing costs relating to all qualifying assets after the date of transition.&nbsp; Similarly, the Company has not restated for borrowing costs capitalized under US GAAP on qualifying assets prior to&nbsp; the date of transition to IFRS.</FONT><I><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> &nbsp;</FONT></I></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -15.05pt; MARGIN: 0in 0in 0pt 49.05pt"><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 125%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company has designated unquoted equity instruments held at January 1, 2012 as available-for-sale investments.</FONT></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>c)&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Reconciliation between US GAAP and IFRS</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 48pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 48pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The following reconciliations illustrate the reclassification and adjustments from US GAAP to IFRS to the opening </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> and to the statement of comprehensive income for the year ended December 31, 2012.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B></P>
<a name="_bclFooter137"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>34</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_138"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader138"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS&nbsp; (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Reconciliation of the consolidated balance sheet as of January 1, 2012 (date of transition to IFRS)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-INDENT: 8.85pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 20.3pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 27.65pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US GAAP items</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US GAAP </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measurement</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 8.85pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Presentation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>IFRS </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.65pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>IFRS items</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-INDENT: 8.85pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.4pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.8pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.8pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Current assets</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Cash and cash equivalents </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>76,672</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>76,672</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Cash and cash equivalents </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Unrestricted short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,529</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(2,529)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Restricted short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>12,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(12,024)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current financial assets &#8211; derivatives </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accounts receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>98,329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>98,431</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Trade receivables</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>244</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>18,218</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>18,462</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other receivables</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Amounts due from related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>5,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>5,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Due from related parties</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>B</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>79,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(773)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>78,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Inventories</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Prepaid expense and other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>9,716</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(6,243)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>3,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Prepayments</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.95pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current assets</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>C</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>5,185</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(5,185)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>288,697</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(529)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(5,217)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>282,951</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current assets</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>D</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>618</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,363</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>3,981</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current financial assets &#8211; available for sale</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>42,914</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,205</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(2,935)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>41,184</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Property, plant and equipment</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Prepaid land lease payments</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(22)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>765</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>743</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investment properties</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Intangible assets</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investments in equity investees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>4,435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investments in associates</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(14)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>65</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>159</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current assets</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-GB color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>C</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>517</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>122</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>5,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>5,820</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-GB color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 16.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>48,592</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>4,654</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>5,213</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>58,459</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.8pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>337,289</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,125</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.85pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(4)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>341,410</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total assets</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.8pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>L</FONT>iabilities and equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.85pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Liabilities and equity</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.1pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Current liabilities</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Bank loans and overdrafts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>52,813</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>52,813</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accounts payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>22,148</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(413)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(597)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>21,138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Trade and other payables</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Amounts due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Due to related parties</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Short-term loan<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> from <FONT style="FONT-SIZE: 9pt" face=Arial>the </FONT>immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Due to immediate holding company</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accrued expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>10,737</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>34</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>920</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>11,691</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Accruals</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Income tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>9,835</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>9,835</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Income tax payable</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 11.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Employee benefit liability</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Financial lease liability</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>72</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>72</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Onerous contracts provision</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>265</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>265</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Dividend payable</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current liabilities</FONT></P></FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>5,783</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(1,502)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>4,281</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Other current liabilities</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 16.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>117,741</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(379)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>118,367</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.5pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,930</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,310</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Employee benefit liability </FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>236</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>236</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Financial lease liabilities</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>507</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>507</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Provisions for employee benefit</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,678</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(3,678)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Other non-current liabilities</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>C</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,260</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Deferred tax liabilities</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,859</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,463</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(1,009)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>5,313</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.25in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>122,600</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,084</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(4)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>123,680</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 0.25in; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Total liabilities</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Shareholders&#8217; equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Equity</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Issued <FONT style="FONT-SIZE: 9pt" face=Arial>and </FONT>outstanding shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Issued capital</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Additional paid-in capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>111,541</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>111,541</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Additional paid-in capital</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>B,C,F,G</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>34,545</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,621</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>36,166</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Retained earnings</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accumulated other comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>C,D,F,G</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>913</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>1,199</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Other components of equity</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total APWC shareholders&#8217; equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>146,510</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>2,534</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>149,044</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Equity attributable to equity holders of the parent</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>68,179</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>507</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>68,686</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.05pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Non-controlling interests</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 15.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>214,689</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>3,041</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>217,730</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.7pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Total equity</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.8pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities and equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>337,289</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>4,125</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 8.85pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>(4)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>341,410</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=top width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=#000000 face=arial,sans-serif>Total liabilities and equity</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 48pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%"></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%"></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 48pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%"></TD>

   <TD vAlign=bottom width="20%">&nbsp;</TD></TR></TABLE></DIV>

<a name="_bclFooter138"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>35</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_139"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader139"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS&nbsp; (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Reconciliation of the consolidated balance sheet as of December 31, 2012&nbsp; </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="19%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="11%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US GAAP items</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US GAAP </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measurement</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Presentation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>IFRS </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>IFRS items</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 6pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Current assets</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>72,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>72,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Unrestricted short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>6,210</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(6,210)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Restricted short-term bank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>11,217</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(11,217)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Held-to-maturity securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>D</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%">&nbsp;<FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%" align=right>&nbsp;<FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,378</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="25%"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current financial assets &#8211; available for sale</FONT></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accounts receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>125,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>125,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Trade receivables</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>19,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>19,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other receivables</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Amounts due from related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,066</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,066</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Due from related parties</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>B</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>98,521</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(437)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>98,084</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Inventories</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Prepaid expense and other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>6,738</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(5,182)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,556</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Prepayments</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>H</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,281</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,281</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Assets classified as held for sale</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current assets</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>C</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(3,134)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>330,208</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(437)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(1,831)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>327,940</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current assets</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>D</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,002</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,935</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(360)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current financial assets &#8211; available for sale</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>360</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>360</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current financial assets &#8211; held to maturity</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>50,396</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(2,932)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>47,464</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Property, plant and equipment</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,957</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,957</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Prepaid land lease payments</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investment properties</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>163</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>163</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Intangible assets</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investments in equity investees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>H</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,414</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(1,281)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,133</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Investments in associates </FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>889</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(14)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>914</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current assets</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-GB color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>C</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,475</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(214)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>4,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-GB color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>59,176</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,707</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>928</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>63,811</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>389,384</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,270</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(903)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>391,751</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total assets</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Liabilities and equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.05pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Liabilities and equity </FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Current liabilities</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Bank loans and overdrafts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>57,845 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>57,845 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accounts payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>40,616 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(413)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>427 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>40,630 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Trade and other payables</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Amounts due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>11,428 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>11,428 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Due to related parties</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Short term loans from the immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Due to immediate holding company</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accrued expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>13,499 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>54 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(308)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>13,245 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accruals</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Income tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>11,225 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(45)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>11,180 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Income tax payable</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>453 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>453 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Employee benefit liability</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Financial lease liability</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>336 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>336 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Dividend payable</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>291 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>291 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Onerous contracts provision</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>10,149 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.25in 0pt 0in" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(1,321)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>8,828 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other current liabilities</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>146,494 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(359)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>146,135 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-current liabilities</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>5,387 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>5,387 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Employee benefit liability </FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>76 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>76 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Financial lease liabilities</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>597 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>597 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Provisions for employee benefit</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other non-current liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>6,060 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(6,060)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>&nbsp; </FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>C</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,219 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,080 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(903)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,396 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Deferred tax liabilities</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>8,279 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,080 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(903)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>8,456 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>154,773</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>721</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(903)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>154,591</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Equity</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Issued <FONT style="FONT-SIZE: 9pt" face=Arial>and </FONT>outstanding shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>138 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>138 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Issued capital</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Additional paid-in capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>110,608 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>110,608 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Additional paid-in capital</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Treasury shares</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Retained earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>B,C,F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>45,553 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>366 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>45,919 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Retained earnings</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Accumulated other comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>C,D,F,G</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>5,424 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,019 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>6,443 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Other components of equity</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total APWC shareholders&#8217; equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>161,717 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,385 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>163,102 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Equity attributable to equity holders of the parent</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>72,894 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>1,164 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>74,058 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Non-controlling interests</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>234,611 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>2,549 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>237,160 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total equity</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities and equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>389,384</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>3,270</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>(903)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>391,751 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG color=black face=arial,sans-serif>Total liabilities and equity </FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="78%" colSpan=10>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD width="22%">&nbsp;</TD>

   <TD width="9%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="25%">&nbsp;</TD></TR></TABLE></DIV>

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

<DIV align=left>&nbsp;</DIV>

<a name="_bclFooter139"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>36</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_140"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader140"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS&nbsp; (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 30.05pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Reconciliation of the consolidated statement of total comprehensive income for the year ended December 31, 2012</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; BORDER-COLLAPSE: collapse; 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: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 103.9pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US GAAP</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>RE-measurement </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>IFRS </FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 103.9pt 0pt 0in"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Note</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="46%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 103.9pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Sales of goods / services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>462,265</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>462,265</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Cost of sales</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>B, F</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(410,450)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,336)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(411,786)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Gross profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>51,815</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,336)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>50,479</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other operating income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,482</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>343</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,825</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Selling, general and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(32,794)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,799)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(34,593)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other operating expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(910)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(888)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Operating profit</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23,593</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,770)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20,823</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,195)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,195)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Finance income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,555</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(233)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,322</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Share of loss of associates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(21)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(21)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Gain on liquidation of subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>279</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange gain (loss)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,411</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,684</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>249</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,933</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Profit before</FONT></B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif> </FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>tax from continuing operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>27,293</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,741)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>24,552</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>C</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(8,383)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>805</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(7,578)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Profit for the year from continuing operations</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18,910</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,936)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,974</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 8.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 5.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange differences on translation of foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>B, D, F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,918</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(805)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,113</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measurement gains (loss<FONT style="FONT-SIZE: 9pt" face=Arial>es</FONT>) on defined benefit plans net of tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>F</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,956)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,849</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(107)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Net gain on available-for-sale financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>D</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>400</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 16.8pt 0pt 0in"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other comprehensive income for the year, net of tax </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,962</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,406</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="46%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 16.8pt 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total comprehensive income for the year, net of tax </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23,872</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(492)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23,380</FONT></P></TD></TR></TABLE></DIV>

<a name="_bclFooter140"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>37</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_141"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader141"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS&nbsp; (continued)</FONT></B></P>

<P style="MARGIN: 0in 0pt 0pt 5.35pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Notes to the reconciliation of equity as of January 1, 2012 and December 31, 2012 and the total comprehensive income for the year ended December 31, 2012</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 25.5pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>A.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Other receivables</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Under IFRS, unrestricted and restricted bank deposits are regarded as loans and receivables in accordance with IAS 39. The Company reclassified unrestricted and restricted bank deposits of $2,529 and $12,024 to other receivables as of January 1, 2012.&nbsp; As of December 31, 2012, the amounts reclassified from unrestricted and restricted bank deposits to other receivables were $6,210 and $11,217.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -40pt; MARGIN: 3.4pt 3.95pt 0pt 65.5pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>B.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Inventories&nbsp;</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.05pt; MARGIN: 0in 0in 0pt 45.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=windowtext face=arial,sans-serif>Under US GAAP, any write-down of inventory to the lower of cost or market creates a new cost basis that subsequently cannot be reversed. Under IFRS, previously recognized impairment losses are reversed up to the amount of the original impairment loss when the reasons for the impairment no longer exist.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.05pt; MARGIN: 0in 0in 0pt 45.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 25.5pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>C.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Deferred taxes</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The various transitional adjustments lead to different temporary differences. According to the accounting policies in Note 3.13, the Company&nbsp;account<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> for the tax impact of such differences. Deferred tax adjustments are recognized <FONT style="FONT-SIZE: 9pt" face=Arial>and recorded </FONT>in either retained earnings or a separate component of equity as follows:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 3.4pt 3.95pt 0pt 63.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In accordance with the requirements of IAS 1, deferred tax assets or liabilities are classified as non-current. Therefore, deferred tax assets or liabilities, current, are reclassified as non-current.&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>The Company&nbsp;</FONT>offset<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> deferred tax assets and liabilities if, and only if, the entity has a legally enforceable right to set off current tax assets against current tax liabilities; and if the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend, in each future period in which significant amounts of deferred tax are expected to be settled or recovered, to settle their current tax assets and liabilities either on a net basis or simultaneously in compliance with IAS 12. As a result of the difference discussed above, deferred tax assets, current&nbsp;decreased from $5,185 to nil and deferred tax assets, non-current&nbsp;increased by $5,185 as of January 1, 2012. The amount reclassified from deferred tax assets, current to deferred tax assets, non-current were $3,134 as of December 31, 2012.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 3.4pt 3.95pt 0pt 63.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>For the year ended December 31, 2012, the immediate recognition in profit or loss for the prior year service costs from defined benefit plan amendments according to the requirements established by IAS 19&nbsp;result<FONT style="FONT-SIZE: 9pt" face=Arial>ed</FONT> in <FONT style="FONT-SIZE: 9pt" face=Arial>a decrease of income tax expense </FONT>of $805. As a result,&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>a reversal of</FONT>&nbsp;income tax and deferred tax liability related to undistributed earnings were recognized under IFRS during the fiscal year ended December 31, 2012. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 3.4pt 3.95pt 0pt 63.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Increases in deferred tax liabilities by $1,083 and $1,080 as of January 1 and December 31, 2012, respectively,&nbsp;mainly resulted from the remeasurement on available for sale financial assets as discussed below.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.05pt; MARGIN: 0in 0in 0pt 45.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 25.5pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>D.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-SG face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other current financial assets - available-for-sale</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Under US GAAP, the Company accounted for the investment on a fixed or non-fixed income mature on or before the date of maturity at cost and classified as short-term held-to-maturity securities. The Company recorded interest income related to short-term held-to-maturity securities as a component of interest income. The Company classified such investments as available-for-sale financial assets in compliance with IAS 39. The amounts to be reclassified from short-term held-to-maturity securities to available-for-sale financial assets, current were $nil and $2,378 as of January 1, 2012 and December 31, 2012, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In addition, the Company recorded the investments in equity securities in privately - held companies at cost under US GAAP.&nbsp; The Company has designated such investments as available-for-sale financial assets in compliance with IAS 39. As the transition to IFRS, the financial asset of $618 was designated as available-for-sale financial assets, non-current. The amounts due to remeasuring fair value through other comprehensive income were $3,363 and $3,93<FONT style="FONT-SIZE: 9pt" face=Arial>5</FONT> and the amounts were recognized in the available-for-sale reserve as of January 1, 2012 and December 31, 2012, respectively. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter141"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>38</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_142"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader142"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>4.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FIRST-TIME ADOPTION OF IFRS&nbsp; (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -18.9pt; MARGIN: 0in 0in 0in 46.9pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>E.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Property, plant and equipment </FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Under US GAAP, the Company account<FONT style="FONT-SIZE: 9pt" face=Arial>ed</FONT> for vacant land and office buildings for rent as property, plant and equipment. As property held to earn rent or held for capital appreciation or both fall within the scope of IAS 40, property, plant and equipment, net were reclassified to investment properties by $765 and $751 as of January 1 and December 31, 2012, respectively.&nbsp; </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In addition, the Company reclassified land use rights, net of $2,065 and of $2,018 to prepaid land lease payment<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> as they are within the scope of IAS 17 as of January 1, 2012 and December 31, 2012. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -18.9pt; MARGIN: 0in 0in 0in 47.6pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>F.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Defined benefit plans</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>For the first time adoption of IFRS, the Company remeasured the defined benefit liability and recognized actuarial gains and losses immediately in full in the period in which they occur, as other comprehensive income and transfer within equity. Subsequent reclassification to earnings is not permitted. Current and prior year service costs are recognized immediately in profit or loss.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The transition adjustment resulted in a decrease in retained earnings of $504, consist<FONT style="FONT-SIZE: 9pt" face=Arial>ing</FONT>: </FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 3.4pt 3.95pt 0pt 63.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>a.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The recognition of prior year service costs due to a change&nbsp; in pension plan&nbsp;of $380, net impact to decrease&nbsp;retained earnings&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>by</FONT> $194 </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -63.8pt; MARGIN: 3.4pt 3.95pt 0pt 63.8pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Under IFRS, the adjustment of prior year service cost of $380 was made at the date of transition, which resulted in a decrease in retained earnings of $194 net of tax and non-controlling interests. <FONT style="FONT-SIZE: 9pt" face=Arial>Therefore</FONT>, the adjustment resulted in an increase in pension liability.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 3.4pt 3.95pt 0pt 63.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>b.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The recognition of unamortized actuarial losses of $609, net impact to decrease&nbsp;retained earnings&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>by</FONT> $310</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 3.4pt 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman"><FONT face=Arial>&nbsp;&nbsp;</FONT>&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Under US GAAP, all actuarial gains and losses are recognized in net income (either immediately or in future periods subsequent to when they are initially recognized in other comprehensive income). In contrast, actuarial gains and losses&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>are not</FONT>&nbsp;recognized in net income under IAS 19 <FONT style="FONT-SIZE: 9pt" face=Arial>but instead they are </FONT>recognized in other comprehensive income as they occur and are not subsequently recognized in net income. As a result, the remaining balance of unamortized actuarial losses of $609 under US GAAP <FONT style="FONT-SIZE: 9pt" face=Arial>was </FONT>recognized&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>in</FONT> retained earnings from other comprehensive income. The recognition resulted in a decrease in retained earnings of $310 net of tax and non-controlling interests.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 3.4pt 0in 0pt 45.35pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The adjustment for the year ended December 31, 2012, resulted in a decrease in <FONT style="FONT-SIZE: 9pt" face=Arial>net income </FONT>of $720.</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 3.4pt 3.95pt 0pt 63.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>a.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Immediate recognition of prior year service costs of $2,928, net impact to decrease&nbsp;net income&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>by</FONT> $990</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 3.4pt 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Under IFRS, the prior year service costs from plan amendments that increase or decrease vested or unvested benefits should be recognized immediately in net income at the earlier of when the related planed amendment occurs or when the entity recognizes related restructuring cost or termination benefits. As a result, the Company recognized a pension expense of $2,928 from other comprehensive income in the year ended December 31, 2012, the effect of the adjustment resulted in a decrease in net income of $990 after tax and non-controlling interests. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 3.4pt 3.95pt 0pt 63.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>b.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Reversal of the amortization of actuarial losses of $143, net impact to increase in net income of $76</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 3.4pt 0in 0pt 63.8pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Since the unamortized actuarial losses have been recognized to retained earnings at date of transition to IFRS, the amortization recognized as expenses in 2012 <FONT style="FONT-SIZE: 9pt" face=Arial>was </FONT>reversed. The effect of the reversal resulted in an increase of $76&nbsp;net of tax&nbsp;and non-controlling interests.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -18.2pt; MARGIN: 3.4pt 0in 0pt 63pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>c.</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The pension expense of 1.1 million&nbsp;for the year ended&nbsp;2012 was reclassified to cost of sales<BR clear=all></FONT></P>

<P style="TEXT-INDENT: -20.3pt; MARGIN: 0in 0in 0in 53.2pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>G.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Foreign currency translation</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRS 1 allows cumulative translations differences for all foreign operations to be deemed zero at the date of transition to IFRS, with future gain or losses on subsequent disposal of any foreign operations to exclude translation differences arising from periods prior to the date of transition to IFRS. The Company has made the election to deem all cumulative translation differences be reset to zero on transition to IFRS as on January 1, 2012. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -19.6pt; MARGIN: 0in 0in 0in 51.8pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>H.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Assets classified as held for sale</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2012, the Company reclassified the investment in equity investees of $1,281 to assets classified as held for sale in accordance with IFRS 5. </FONT></P>

<P style="MARGIN: 0in 0in 0in 65.45pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -20.3pt; MARGIN: 0in 0in 0in 52.5pt"><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>I.</FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 160%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Statement of cash flows</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The transition from US GAAP to IFRS has not had a material impact on the statement of cash flows.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 45.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 1.8pt 0pt 0pt 5.35pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter142"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>39</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_143></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader143"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>STANDARDS ISSUED BUT NOT YET EFFECTIVE </FONT></B></P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company&#8217;s financial statements are disclosed below.&nbsp; The Company intends to adopt these standards, if applicable, when they become effective.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRS 9 Financial Instruments</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRS 9 which is divided in three distinct phases is designed by the IASB to eventually replace IAS 39, &#8220;Financial Instruments: Recognition and Measurement&#8221; (IAS 39) in its entirety.&nbsp; The first phase introduces new requirements for the classification and measurement of financial assets and liabilities.&nbsp; The second phase addresses the impairment of financial assets, which proposes to replace the incurred loss approach to the impairment of financial assets carried at amortized cost in IAS 39 with an expected credit loss approach, and requires that the expected credit loss approach be applied to other categories of financial instrument, including loan commitments and financial guarantees.&nbsp; The third phase of the project addresses general hedge accounting.&nbsp; The IASB expects to issue the completed version of IFRS 9, which will include those limited amendments and the impairment requirements, in the second quarter of 2014.&nbsp; All phases of IFRS 9 are expected to be applied from the same effective date, the IASB has tentatively decided that the effective date is January 1, 2018.&nbsp; The Company is currently assessing the impact that may have on its consolidated financial statements.&nbsp; &nbsp;</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>These amendments are effective for annual periods beginning on or after January 1, 2014 provide an exception to the consolidation requirement for entities that meet the definition of an investment entity under IFRS 10. The exception to consolidation requires investment entities to account for subsidiaries at fair value through profit or loss. It is not expected that this amendment would be relevant to the Company, since none of the entities in the Company would qualify to be an investment entity under IFRS 10. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IAS 32 Offsetting Financial Assets and Financial Liabilities - Amendments to IAS 32</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amendments to IAS 32 clarify the meaning of &#8220;currently has a legally enforceable right to set-off&#8221;. The amendments also clarify the application of the IAS 32 offsetting criteria to settlement systems (such as central clearing house systems) which apply gross settlement mechanisms that are not simultaneous. The amendments are not expected to impact the Company&#8217;s financial position or performance and become effective for annual periods beginning on or after January 1, 2014.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRIC Interpretation 21 Levies (IFRIC 21)</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRIC 21 clarifies that an entity recognizes a liability for a levy when the activity that triggers payment, as identified by the relevant legislation, occurs. For a levy that is triggered upon reaching a minimum threshold, the interpretation clarifies that no liability should be anticipated before the specified minimum threshold is reached. IFRIC 21 is effective for annual periods beginning on or after January 1, 2014. The Company does not expect that IFRIC 21 will have material financial impact in future consolidated financial statements. &nbsp;</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IAS 39 Novation of Derivatives and Continuation of Hedge Accounting - Amendments to IAS 39</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amendments provide relief from discontinuing hedge accounting when novation of a derivative designated as a hedging instrument meets certain criteria. The amendments are effective for annual periods beginning on or after January 1, 2014. &nbsp;The Company does not expect an impact on the consolidated financial statements since the Company does not have the contracts are designated as hedging instruments.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRS 8 Operating Segments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amendments require an entity to disclose the judgements made by management in applying the aggregation criteria to operating segments.&nbsp; The amendments also clarify that an entity shall only provide reconciliations of the total of the reportable segments&#8217; assets to the entity&#8217;s assets if the segment assets are reported regularly to the chief operating decision maker.&nbsp; The amendment is effective for annual periods beginning on or after July 1, 2014 and is not expected to have a material impact on the Company&#8217;s consolidated financial statements.</FONT></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IAS 24 Related Party Disclosures </FONT></I></B></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amendment clarifies that an entity providing key management personnel services to the reporting entity or to the </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>parent of the reporting entity is a related party of the reporting entity. The amendment is effective for annual periods </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>beginning on or after July 1, 2014 and is not expected to have an impact on the Company&#8217;s consolidated financial </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>statements.</FONT></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter143"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>40</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_144></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader144"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>5.&nbsp;&nbsp; STANDARDS ISSUED BUT NOT YET EFFECTIVE (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRS 3 Business Combinations (IFRS 3)</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The standard is amended to clarify that IFRS 3 does not apply to the accounting for the formation of any joint arrangement </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>under IFRS 11, &#8220;Joint Arrangements&#8221;. The amendment also clarifies that the scope exemption only applies in the financial </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>statements of the joint arrangement itself. The amendment is effective for annual periods beginning on or after July 1, 2014 </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>and is not expected to have an impact on the Company&#8217;s consolidated financial statements.</FONT></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>IFRS 13 &#8220;Fair Value Measurement&#8221; (IFRS 13)</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0in 24pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amendment clarifies that paragraph 52 of IFRS 13 includes a scope exception for measuring the fair value of a group </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>of financial assets and financial liabilities on a net basis. The objective of this amendment is to clarify that this portfolio </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>exception applies to all contracts within the scope of IAS 39 or IFRS 9 regardless of whether they meet the definitions of </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>financial assets or financial liabilities as defined in IAS 32, &#8220;Financial Instruments: Presentation&#8221;. The amendment is </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>effective for annual periods beginning on or after July 1, 2014 and is not expected to have an impact on the </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Company&#8217;s consolidated financial statements.</FONT></P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 24pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SEGMENT INFORMATION</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Change in reportable segment </FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company and its operating subsidiaries (the &#8220;Group&#8221;) are located in different countries across the region of Asia Pacific. The Group was organized into business units based on its products and services and had three reportable segments as follows:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0.05pt 0in 0pt 43.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The &#8220;Manufactured products&#8221; segment, which manufactures and distributes its own wire and cable products</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0.05pt 0in 0pt 43.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The &#8220;Distributed products&#8221; segment, which distributes wire and cable products manufactured by PEWC and other third party suppliers</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0.05pt 0in 0pt 43.05pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The &#8220;Supply, delivery and installation (&#8220;SDI&#8221;)&#8221; segment, which provides project engineering services in the supply, delivery and installation of power cable to certain customers</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Previously, the Chief Operating Officer (&#8220;COO&#8221;) who was identified as the chief operating decision maker (&#8220;CODM&#8221;) was responsible for different products and services lines worldwide under the Group&#8217;s organization structure. COO regularly reviewed the operating results of the three&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>reportable</FONT> segments.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>In July 2013, the Company changed COO and adjusted the management structure accordingly. The adjusted management organization consists of three segment managers that are responsible for three separate regions of North Asia, Thailand and Rest of World (&#8220;ROW&#8221;). The three segment managers report to the COO. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Based on the new management approach, the Company has identified its operating segments through the regions including the following three segments effective July 1, 2013:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0.05pt 0in 0pt 43.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>North Asia Region : China and Hong Kong</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0.05pt 0in 0pt 43.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Thailand Region : Thailand </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -17.85pt; MARGIN: 0.05pt 0in 0pt 43.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>ROW Region : Australia and Singapore</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>As the three operating segments exceed the quantitative thresholds, they are also reportable segments.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0.05pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter144"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>41</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_145></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader145"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SEGMENT INFORMATION (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Change in reportable segment (continued)</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Transfer</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 1.2pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>pric</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>e</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>s&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.1pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>between&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.2pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>operating&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 1.35pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>seg</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>m</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>ents&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.1pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>are&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.1pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>on&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>an&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.25pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>arm&#8217;s&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.3pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>length&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.85pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>basis&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.8pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>in&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.2pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>a&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.35pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>manner&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.45pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>s</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>imilar&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.95pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>to&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.75pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>t</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>r</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>ansactions with</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 0.95pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>third&nbsp;</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: 1.6pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>part</FONT><FONT style="LINE-HEIGHT: 115%; LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>i</FONT><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>es.&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the consolidated financial statements. The accounting policies for segment information, including transactions entered between segments are generally the same as those described in the summary of significant accounting policies. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="HEIGHT: 0.95pt" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>Corporate Expense</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="HEIGHT: 0.95pt" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>adjustments</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="HEIGHT: 0.95pt" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Year ended</FONT></B></P>
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>December 31, 2013</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>North</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Asia</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thailand</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>ROW</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total segments</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>and</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>eliminations</FONT></B></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 0.95pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>Consolidated</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="HEIGHT: 0.95pt" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Sales of goods / services </FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>External customers</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>117,658</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>175,347</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>167,671</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>460,676</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>460,676</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 8.75pt">
     <TD style="HEIGHT: 8.75pt" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Inter-segment</FONT></P>
</TD>
     <TD style="HEIGHT: 8.75pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,494</FONT></P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>117</FONT></P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,541</FONT></P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,152</FONT></P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(11,152)</FONT></P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.75pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">
     <TD style="BACKGROUND-COLOR: #cceeff" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Segment net income (loss) </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,679)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,969</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,621</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,911</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,645)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,266</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="HEIGHT: 0.95pt" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation and amortization</FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,029</FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,947</FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,650</FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,626</FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>33</FONT></P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 0.95pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,659</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest income</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>68</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,101</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>134</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,303</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,306</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">
     <TD style="HEIGHT: 2.85pt" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest expense</FONT></P>
</TD>
     <TD style="HEIGHT: 2.85pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(<FONT style="FONT-SIZE: 9pt" face=Arial>880</FONT>)</FONT></P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(661)</FONT></P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(170)</FONT></P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,<FONT style="FONT-SIZE: 9pt" face=Arial>711</FONT>)</FONT></P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(<FONT style="FONT-SIZE: 9pt" face=Arial>23</FONT>)</FONT></P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,734)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Income tax expense</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(328)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,969)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,726)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,023)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(495)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 2.85pt" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,518)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="HEIGHT: 3.5pt" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 3.5pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Other disclosures</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Capital expenditure</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,827</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,606</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,076</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,509</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,509</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Inter-segment revenues are eliminated upon consolidation and reflected in the &#8220;adjustments and eliminations&#8221; column. All other adjustments and eliminations are part of detailed reconciliations presented further below.</FONT></P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter145"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>42</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_146></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader146"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SEGMENT INFORMATION (continued)</FONT></B></P>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>Corporate expense</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>adjustments</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Year ended</FONT></B></P>
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>December 31, 2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>North</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Asia</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thailand</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>ROW</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total segments</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>and</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>eliminations</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>Consolidated</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Sales of goods / services </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>External customers</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>123,964</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>188,629</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>149,672</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>462,265</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>462,265</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 15.45pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Inter-segment</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,467</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,968</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>12,449</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(12,449)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.45pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Segment net income (loss)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(184)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,916</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,036</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>20,768</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,794)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,974</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation and amortization</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>911</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,881</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,595</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,387</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>34</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,421</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>148</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,065</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>106</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,319</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,322</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest expense</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,058)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(916)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(194)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,168)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(27)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,195)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.85pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Income tax expense</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(290)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(4,619)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,015)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(6,924)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(654)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 13.85pt; PADDING-TOP: 0in" width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(7,578)</FONT></P>
</TD></TR>
<TR>
     <TD width="22%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="12%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="12%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="12%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="12%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="12%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="12%">&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Other disclosures</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Capital expenditure</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,337</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,658</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>991</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,986</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>11</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,997</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Adjustments and eliminations</FONT></B></P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Corporate expenses, gain on disposal of investment, and share of gain (loss) of associates are not allocated to individual segments as the underlying instruments are managed on a group basis. </FONT></P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Capital expenditure consists of additions of property, plant and equipment, intangible assets and investment properties including assets from the acquisition of subsidiaries.</FONT></P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Inter-segment revenues are eliminated on consolidation. </FONT></P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Reconciliation of profit </FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=center>
<P style="TEXT-INDENT: 22.5pt; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%" align=center>
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Segment net income</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,911</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>20,768</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Corporate Expense</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,124)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,476)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Gain on disposal of investment held for sale</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>232</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Share of net loss of associates</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(211)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(21)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Gain on liquidation of subsidiaries</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>279</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Inter-segment sales (elimination)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(47)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>78</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Tax expenses</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(495)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(654)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.65pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 9pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit after tax </FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,266</FONT></B></P>
</DIV></TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,974</FONT></B></P>
</DIV></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>
<a name="_bclFooter146"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>43</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_147></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader147"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SEGMENT INFORMATION (continued)</FONT></B></P>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>Corporate Expense</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>adjustments</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="22%">
<P style="MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>North</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Asia</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thailand</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>ROW</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total segments</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>and</FONT></B></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>eliminations</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>Consolidated</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31, 2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>70,103</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>171,855</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>108,045</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>350,003</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,632</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>364,635</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,635</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>24,458</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>40,117</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>81,210</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>55,298</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>136,508</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31, 2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>81,127</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>183,851</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>109,748</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>374,726</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>17,025</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>391,751</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,504</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>22,013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>45,180</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>83,697</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>71,254</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>154,951</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1, 2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>69,940</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>166,201</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>83,959</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>320,100</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>21,310</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>341,410</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 20.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="22%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>17,876</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,167</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>26,958</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>59,001</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 12pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8.5pt" face=arial,sans-serif>64,679</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 20.1pt; PADDING-TOP: 0in" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>123,680</FONT></P>
</TD></TR></TABLE></DIV>
<a name="_bclFooter147"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>44</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_148></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader148"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.&nbsp;&nbsp;&nbsp;&nbsp; SEGMENT INFORMATION (continued)&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Reconciliation of assets: </FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Segment operating Assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>350,003</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>374,726</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>320,100</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Corporate and other assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,193</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,182</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,074</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Investment in associates</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,937</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 2.4pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,133</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,435</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Assets classified as held for sale</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,281</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current financial assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,524</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,937</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,981</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Deferred tax assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,978</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,492</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,820</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 18.5pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>364,635</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>391,751</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 18.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>341,410</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Reconciliation of liabilities: </FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Segment operating liabilities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>81,210</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>83,697</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>59,001</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Corporate liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,959</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,173</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,291</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest-bearing loans and borrowing</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,789</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 2.4pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>57,845</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>52,813</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Employee benefit liability</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,874</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,840</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,315</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.05pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 0.7pt 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Deferred tax liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,676</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,396</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.05pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,260</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 19.55pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total liabilities</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 7.05pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>136,508</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>154,951</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 19.55pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>123,680</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Major customer information</FONT></B></P>
<P style="MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0.7pt 0pt 22.8pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>More than 10% of the Company&#8217;s total sales for the year ended December 31,&nbsp;2013 was concentrated on one of our major customers.&nbsp; Please refer to Note 27(b).</FONT></P>
<a name="_bclFooter148"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>45</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_149></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader149"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SEGMENT INFORMATION (continued)</FONT></B></P>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 25.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Revenue from external customers is attributed to individual countries based on the customer&#8217;s country of domicile and is summarized as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Revenues from external customers</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thailand</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>154,763</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>167,762</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Singapore</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>102,427</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>93,285</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Australia</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>59,956</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>64,402</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>PRC</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>128,952</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>120,763</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Vietnam</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,436</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,366</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Southeast Asia</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>8,142</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,376</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Northeast Asia</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,311</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.4pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="68%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>460,676</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>462,265</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.4pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR></TABLE></DIV>
<DIV align=left>&nbsp;</DIV>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 21.3pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Countries in the Southeast Asia region include: </FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 24pt"><FONT style="FONT-SIZE: 6pt" color=#7e7d83 face="wingdings 3">u</FONT><FONT style="FONT-SIZE: 7pt" color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Cambodia, Indonesia, India, Laos, Malaysia and Myanmar</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Countries in the Northeast Asia region include: </FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 24pt"><FONT style="FONT-SIZE: 6pt" color=#7e7d83 face="wingdings 3">u</FONT><FONT style="FONT-SIZE: 7pt" color=#7e7d83 face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Japan and South Korea</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="99%" colSpan=7>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Long-lived assets by the country of domicile are summarized as follow:</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="42%" colSpan=5>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="29%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8.5pt" face=arial,sans-serif>As of January 1, </FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Long-lived assets by area:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thailand</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>23,370</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>23,381</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>19,938</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>North Asia</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>13,456</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,405</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,604</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>ROW</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,666</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,509</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,460</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Corporate</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>40</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>62</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.5pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="14%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="51%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total long-lived assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="6%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>51,498</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="14%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>50,335</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>44,064</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0.65pt 0in 0pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0.65pt 0in 0pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter149"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>46</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_150"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader150"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>MATERIAL PARTLY-OWNED SUBSIDIARIES </FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company has a subsidiary with material non-controlling interests (&#8220;NCI&#8221;). Information regarding the subsidiary is as follows:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Proportion of equity interest held by NCI:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="36%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Name</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="20%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Country of incorporation and operation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Charoong Thai and its subsidiaries (&#8220;CTW Consolidated&#8221;)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thailand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>49.07%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>49.07%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>49.07%</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>China</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>33.65%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="13%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>45.59%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>45.59%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of&nbsp; December 31, 2013, SYE was owned by APWC through&nbsp;Charoong Thai group and Crown Century Holding Ltd<FONT style="FONT-SIZE: 9pt" face=Arial>.</FONT> ("CCH") with the effective shareholding of 66.35%, as compared to 54.41% in 2012, in consequence, an effect of $(27) on the equity attributable to the parent arising from changes in percentage of ownership in subsidiary. From APWC group&nbsp;perspective, SYE is considered an entity with material non-controlling interests and should be separated from Charoong Thai group.</FONT></P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Accumulated balances of material NCI:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0pt 26.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW Consolidated</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>64,153</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>66,979</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>60,755</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,190</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,417</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,575</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit / (loss) of material NCI:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: -0.55pt; MARGIN: 0in 0in 0pt 26.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="26%" colSpan=3 align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW Consolidated</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,056</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(254)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(187)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter150"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>47</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_151"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader151"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>MATERIAL PARTLY-OWNED SUBSIDIARIES (continued)</FONT></B></P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The summarized financial information of the subsidiary is provided below. This information is based on amounts before inter-company eliminations:</FONT></P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized income statement for 2013:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Revenues </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>175,464</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,251</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(148,861)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(39,699)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(12,117)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,475)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,334)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(832)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit before tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>13,152</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(755)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,913)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit for the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,239</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(755)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,153</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(755)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Attributable to non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,056</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(254)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividends paid to non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,877</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 9pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized income statement for 2012:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Revenues </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>190,394</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>42,405</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(165,330)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(40,639)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(7,953)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,390)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Finance costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,205</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(787)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit before tax</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>19,316</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(411)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(4,586)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Profit for the year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,730</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(411)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>18,942</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(411)</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Attributable to non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(187)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Dividends paid to non-controlling interests</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,067</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<a name="_bclFooter151"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>48</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_152"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader152"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>MATERIAL PARTLY-OWNED SUBSIDIARIES (continued)</FONT></B></P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized </FONT><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> as of December 31, 2013:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash, inventory and other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>148,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>18,583</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Property, plant and equipment and other non-current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>38,086</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,481</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other payable </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(46,734)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(11,584)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current liabilities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,455)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,479)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>130,737</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,480</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Attributable to equity holders of parent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>66,584</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,290</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>64,153</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,190</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized </FONT><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> as of December 31, 2012:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash, inventory and other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>160,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,976</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Property, plant and equipment and other non-current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>35,833</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,773</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other payable </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(50,826)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(12,254)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current liabilities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,400)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,517)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>136,496</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,495</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Attributable to equity holders of parent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>69,517</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,078</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>66,979</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,417</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized </FONT><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> as of January 1, 2012:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash, inventory and other current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>146,311</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,508</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Property, plant and equipment and other non-current assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>31,890</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,153</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other payable </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(48,497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(9,820)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current liabilities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,453)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,438)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.35pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>123,813</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,841</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Attributable to equity holders of parent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>63,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,266</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>60,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,575</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized cash flow information for the year ended December 31, 2013:</FONT></P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Operating </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>15,644</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,715)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Investing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>771</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(72)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financing </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(11,772)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,819</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Effect of changes in exchange rate on cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net increase in cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,154</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>29</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Summarized cash flow information for the year ended December 31, 2012:</FONT></P>

<P style="MARGIN: 0.65pt 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>CTW consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>SYE</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Operating </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>13,040</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>406</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Investing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(8,392)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(29)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financing </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(11,900)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>224</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Effect of changes in exchange rate on cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(73)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(14)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net (decrease) / increase in cash and cash equivalents</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>(7,325)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>587</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter152"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>49</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_153></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader153"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;INVESTMENTS IN ASSOCIATES</FONT></B></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The associates of the Company are set out below:</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 98%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 6.75pt; MARGIN-RIGHT: 6.75pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 25.5pt">
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 25.5pt" vAlign=bottom rowSpan=3 width="23%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Company Name</FONT></B></P>
</TD>
     <TD style="HEIGHT: 25.5pt" vAlign=top width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 25.5pt" vAlign=bottom rowSpan=3 width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Nature of business</FONT></B></P>
</TD>
     <TD style="HEIGHT: 25.5pt" vAlign=top width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 25.5pt" vAlign=bottom rowSpan=3 width="13%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Country of incorporation</FONT></B></P>
</TD>
     <TD style="HEIGHT: 25.5pt" vAlign=top width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 25.5pt" width="34%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Percentage of equity interest</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 14.2pt">
     <TD style="HEIGHT: 14.2pt" width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 14.2pt" width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 14.2pt" width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid; HEIGHT: 14.2pt" width="23%" colSpan=2>
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif>As of December 31</FONT></B></P>
</TD>
     <TD style="HEIGHT: 14.2pt" vAlign=top width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif>As of January 1</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 14.2pt">
     <TD style="HEIGHT: 14.2pt" width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 14.2pt" width="5%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 14.2pt" width="4%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 14.2pt" width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 14.2pt" width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 14.2pt" vAlign=top width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 19.6pt">
     <TD style="HEIGHT: 19.6pt" vAlign=top width="23%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="12%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 19.6pt" vAlign=top width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 19.6pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Shandong Huayu Pacific Fiber Optics Communications Co., Ltd.(&#8220;Shandong Huayu&#8221;) (Note 12) </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Manufacturing of optic fibers</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>PRC</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 19.6pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>48.73%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 26.45pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Shandong Pacific Rubber Cable Co., Ltd. (&#8220;SPRC&#8221;)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Manufacturing of rubber cable </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>PRC</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" vAlign=top width="4%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="12%">
<P style="TEXT-ALIGN: right; TEXT-INDENT: 20pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>25.00%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="11%">
<P style="TEXT-ALIGN: right; TEXT-INDENT: 16pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>25.00%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 26.45pt" width="11%">
<P style="TEXT-ALIGN: right; TEXT-INDENT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>25.00%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Siam Pacific Holding Company Limited (&#8220;SPHC&#8221;)</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Investment &amp; holding company </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Thailand</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>49.00%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>49.00%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>49.00%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Loxpac (Thailand) Company Limited (&#8220;Loxpac&#8221;) (Formerly known as &#8220;Loxley Pacific Co., Ltd. (&#8220;Lox Pac&#8221;)) </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Providing telecommunication service</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Thailand</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>21.39%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>21.39%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>21.39%</FONT></P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 8.5pt">
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Loxley Pacific Hong Kong Co., Limited (&#8220;Loxley HK&#8221;) </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Investment &amp; holding company</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>Hong Kong</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>28.06%</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 8.5pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="HEIGHT: 17pt">
     <TD style="HEIGHT: 17pt" width="23%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="5%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="13%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" vAlign=top width="4%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="12%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 17pt" width="11%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="32%" colSpan=4>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="32%" colSpan=4>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.35pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.35pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance at January 1</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,133 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,435</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Additions </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>16</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Capital return</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(16)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Share of loss of associates</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(211)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(21)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Investment classified&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>to</FONT> held for sale (Note 12)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(1,281)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange difference</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>15</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.15pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="TEXT-INDENT: -9pt; MARGIN: 0in 6pt 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.45pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 6pt 0pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance at December 31</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,937</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,133</FONT></P>
</TD></TR>
<TR>
     <TD width="68%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="15%">&nbsp;</TD>
     <TD width="1%">&nbsp;</TD>
     <TD width="15%">&nbsp;</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 6pt 0pt 0.3in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The investments in Lox Pac and Loxley HK have been fully impaired. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 6pt 0pt 0.3in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 6pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 6pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter153"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>50</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_154></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader154"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INVESTMENTS IN ASSOCIATES (continued) </FONT></B></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 22.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s investments in associates are accounted for using the equity method in the consolidated financial statements. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The following table summarized financial information of the Company&#8217;s investments in associates. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B></P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 30.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.1pt; PADDING-TOP: 0in" width="52%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.1pt; PADDING-TOP: 0in" width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.1pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.1pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>As of January 1,</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 13.7pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 12.8pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="HEIGHT: 12.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Current assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>92,044</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>81,769</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>54,968</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13.35pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Non-current assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>16,231</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>13,259</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>17,961</FONT></P>
</TD></TR>
<TR style="HEIGHT: 12.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Current liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(84,188)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(71,867)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(44,870)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 13.35pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Non-current liabilities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,937)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(303)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.35pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(1,156)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 1.1pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 1.1pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 5pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 15.25pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="52%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Equity</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>21,150</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>22,858</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>26,903</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 5.35pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</FONT></B></P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.5pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 14.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; PADDING-TOP: 0in" width="68%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; PADDING-TOP: 0in" width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -2.45pt; MARGIN: 0in 0in 0pt 0.05pt" align=center><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 13.9pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; TEXT-INDENT: -2.45pt; MARGIN: 0in 0in 0pt 0.05pt" align=center><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="HEIGHT: 14.45pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.45pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Revenue</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="TEXT-INDENT: 13.5pt; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>49,813</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="TEXT-INDENT: -2.45pt; MARGIN: 0in 0in 0pt 0.05pt" align=right><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>57,467</FONT></P>
</TD></TR>
<TR style="HEIGHT: 16.6pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" vAlign=top width="68%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Loss for the year (continuing operations)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(874)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.6pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="TEXT-INDENT: -2.45pt; MARGIN: 0in 0in 0pt 0.05pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(1,067)</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.25pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012 and January 1, 2012, the Company's associates&nbsp;had no&nbsp;contingent liabilities or capital commitments.<BR clear=all>
</FONT></P>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter154"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>51</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_155></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader155"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FAIR VALUE MEASUREMENT </FONT></B></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The following table provides the fair value measurement hierarchy of the Company&#8217;s assets.</FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Quantitative disclosures fair value measurement hierarchy for assets as of December 31, 2013:</FONT></B></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; MARGIN-LEFT: 24.1pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="47%" colSpan=7>
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Fair value measurement using</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Date of valuation</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Quoted prices in active markets</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 1)</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Significant observable inputs</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 2)</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Significant unobservable inputs</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 3)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=3>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F</FONT>air value information:</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="52%" colSpan=3>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Available-for-sale financial investments (Note 18.1)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unquoted equity shares</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Thai Metal Processing Co., Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,189</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,189</FONT></P>
</TD></TR>
<TR>
     <TD width="100%" colSpan=11>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P>
<P style="LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Assets for which fair values are disclosed:</FONT></P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="52%" colSpan=3>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Investment properties (Note 16)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Land</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>11,437</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>11,437</FONT></P>
</TD></TR>
<TR style="HEIGHT: 15.4pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Office buildings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>617</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>617</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp; &nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -21.25pt; MARGIN: 0in 0in 0pt 21.25pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There have been no transfers between Level 1 and Level 2 during the year. </FONT></P>
<a name="_bclFooter155"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>52</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_156></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader156"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FAIR VALUE MEASUREMENT (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The following table provides the fair value measurement hierarchy of the Company&#8217;s assets.</FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Quantitative disclosures fair value measurement hierarchy for assets as of December 31, 2012:</FONT></B></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; MARGIN-LEFT: 24.1pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="47%" colSpan=7>
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Fair value measurement using</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Date of valuation</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Quoted prices in active markets</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 1)</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Significant observable inputs</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 2)</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Significant unobservable inputs</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 3)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=3>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F</FONT>air value information:</FONT></B></FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=3>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Available-for-sale financial investments (Note 18.1)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unquoted equity shares</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Thai Metal Processing Co., Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>4,577</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>4,577</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unquoted debt securities</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>RMB structured deposits</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2,378</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2,378</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR>
     <TD style="BACKGROUND-COLOR: #cceeff" width="100%" colSpan=11>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN-TOP: 0in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 6pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Assets for which fair values are disclosed:</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Investment properties (Note 16)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Land</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>11,221</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>11,221</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Office buildings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>December 31, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>655</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>655</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=11>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>There have been no transfers between Level 1 and Level 2 during the year.</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -22.5pt; MARGIN: 0in 2.55pt 0pt 22.5pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter156"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>53</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_157></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader157"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>9. &nbsp;&nbsp;&nbsp; FAIR VALUE MEASUREMENT (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The following table provides the fair value measurement hierarchy of the Company&#8217;s assets.</FONT></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 2.5pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Quantitative disclosures fair value measurement hierarchy for assets as of January 1, 2012:</FONT></B></P>
<P style="MARGIN: 0in 2.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; MARGIN-LEFT: 24.1pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="47%" colSpan=7>
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Fair value measurement using</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in">&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in">&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Date of valuation</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in">&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Total </FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in">&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Quoted prices in active markets</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 1)</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Significant observable inputs</FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 2)</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right></TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Significant unobservable inputs </FONT></P>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(Level 3)</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=3>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F</FONT>air value information:</FONT></B></FONT></B></FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=3>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Available-for-sale financial investments (Note 18.1)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unquoted equity shares</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Thai Metal Processing Co., Ltd.</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>January 1, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,981</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,981</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%" colSpan=3>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Other current financial assets<FONT style="FONT-SIZE: 9pt" face=Arial>-derivatives</FONT> (Note 18.1)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="31%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Foreign exchange forward contracts &#8211; US dollar</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>January 1, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>64</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>64</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=11>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Assets for which fair values are disclosed:</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Investment properties (Note 16)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Land</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>January 1, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>10,854</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>10,854</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 9.6pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Office buildings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="20%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 2.55pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>January 1, 2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>634</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>
<P style="MARGIN: 0in 2.55pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>634</FONT></P>
</TD></TR>
<TR>
     <TD vAlign=top width="100%" colSpan=11>
<P style="MARGIN: 0in 2.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P>
</TD></TR></TABLE>&#194;&nbsp;</DIV>
<a name="_bclFooter157"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>54</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_158></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader158"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;OTHER INCOME/EXPENSES AND ADJUSTMENTS </FONT></B></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.95pt; MARGIN: 0in 0in 0pt 49.65pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.1</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other operating income</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 10.5pt">
     <TD style="HEIGHT: 10.5pt" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 10.5pt" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid" width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Recovery of losses from flooding</FONT></P>
</TD>
     <TD width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,762</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Reversal of allowance for trade receivables</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>709</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Reversal of allowance for investment properties</FONT></P>
</TD>
     <TD width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>68</FONT></P>
</TD>
     <TD width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Gain on disposal of property, plant, and equipment</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #cceeff" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>113</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #cceeff" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>354</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.95pt">
     <TD style="HEIGHT: 7.95pt" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 7.95pt" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 7.95pt" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="HEIGHT: 7.95pt" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total Other operating income</FONT></B></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>181</FONT></B></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,825</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0pt 51.05pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.2</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other operating expenses</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Charge related to flooding</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(888)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Allowance for trade receivables</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(196)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total other operating expenses</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(196)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(888)</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 61.55pt 0pt 43.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0pt 49.6pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.3</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;Finance costs</FONT></B></P>
<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Interest on debts and borrowings</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,339)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,649)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Finance charges payable under finance leases and hire </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>purchase contracts</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(19)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(41)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total interest expenses</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,358)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,690)</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Banking charges </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(376)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(505)</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total finance costs</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,734)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,195)</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 61.55pt 0pt 43.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0pt 49.6pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.4</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;Finance income</FONT></B></P>
<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: windowtext 1pt solid" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 15.35pt">
     <TD style="HEIGHT: 15.35pt" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Interest Income </FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; HEIGHT: 15.35pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,306</FONT></P>
</TD>
     <TD style="HEIGHT: 15.35pt" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; HEIGHT: 15.35pt" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,322</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0in 49.6pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.5</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other income</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Sales of scrap copper</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>392</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>564</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net gain on financial instruments</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>603</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Dividend income</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>110</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>109</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Others</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>952</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>657</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total other income</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,454</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,933</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter158"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>55</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_159></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader159"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER INCOME/EXPENSES AND ADJUSTMENTS (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0in 49.6pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.6</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other expenses</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net loss on financial instruments</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(207)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Others</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(53)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total other expenses</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(260)</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 61.55pt 0pt 43.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0pt 49.6pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.7</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;Depreciation, amortization and lease expense included in the consolidated income statements</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3 align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>
<P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Included in cost of sales:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Depreciation &#8211; tangible assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,582</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,235</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Included in selling expenses:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Depreciation &#8211; tangible assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>223</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>181</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Included in general and administrative expenses:</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Depreciation &#8211; tangible assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>767</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>907</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Amortization &#8211; Intangible assets</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>69</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>80</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Amortization &#8211; prepaid land lease payment</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>59</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>59</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Depreciation &#8211; investment property</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Minimum lease payments recognised as an operating lease expense</FONT></P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,301</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>866</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,019</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,346</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B></P>
<P style="TEXT-INDENT: -26.9pt; MARGIN: 0in 0in 0pt 51.05pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>10.8</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;Employee benefits expenses</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 94%; MARGIN-LEFT: 51.1pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="31%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="BORDER-TOP: windowtext 1pt solid" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=top width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Included in cost of sales:</FONT></P>
</TD>
     <TD vAlign=top width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=top width="1%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=top width="15%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Wages and salaries</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14,852</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,935</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Labor and health insurance costs</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>140</FONT></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>135</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Pension costs </FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,081</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,017</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other employment benefits</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>917</FONT></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>784</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Included in selling expenses:</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Wages and salaries</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,778</FONT></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,721</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Labor and health insurance costs</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Pension costs</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>333</FONT></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>426</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other employment benefits</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>88</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>72</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Included in general and administrative expenses:</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Wages and salaries</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,876</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8,796</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Labor and health insurance costs</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>156</FONT></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>119</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Pension costs</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>488</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,561</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Director fees</FONT></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,120</FONT></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom rowSpan=2 width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,352</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>740</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other employment benefits</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>495</FONT></P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="69%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; BORDER-TOP: windowtext 1pt solid" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff" vAlign=bottom width="1%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BACKGROUND-COLOR: #cceeff; BORDER-TOP: windowtext 1pt solid" vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD vAlign=bottom width="69%">
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total employee benefits expenses</FONT></B></P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>34,345</FONT></B></P>
</TD>
     <TD vAlign=bottom width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD vAlign=bottom width="15%" align=right>
<P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>33,678</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter159"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>56</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_160"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader160"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>11.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INCOME TAX </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Under current Bermuda law, the Company is not subject to tax on income or capital gains, nor is withholding tax of Bermuda imposed upon payments of dividends by the Company to its shareholders.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company&#8217;s investments in the Operating Subsidiaries are held through subsidiaries incorporated in the British Virgin Islands (&#8220;BVI&#8221;). Under current BVI law, dividends from the BVI subsidiaries&#8217; investments are not subject to income taxes and no withholding tax is imposed on payments of dividends by the BVI subsidiaries to the Company.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Operating Subsidiaries and equity investees are governed by the income tax laws of Singapore, Thailand, Australia and the PRC.&nbsp; The corporate income tax rate in Singapore was 17% for each of the two years ended December 31, 2013, and there is no withholding tax on dividends applicable to the Company.&nbsp; For Thailand, the corporate income tax rate was 30% for the year ended December 31, 2011 and a withholding tax of 10% is levied on dividends received by the Company. CTW is listed on Stock Exchange of Thailand (&#8220;SET&#8221;). Its applicable corporate income rate was 25% for the first 300 million Baht of net profit and 30% for the amount exceeding 300 million Baht. The reduced rate of taxation applied for listed companies for three accounting periods from 2008 to 2010. As a part of an initiative to promote Thailand&#8217;s competitiveness, the Thai Government announced in Royal Decree (No. 530) to provide for a reduction of corporate income tax from 30% to: (1) 23% for any accounting periods commencing between January 1, 2012 and December 31, 2012; (2) 20% from any accounting periods commencing between January 1, 2013 and December 31, 2014. In Australia, the corporate income tax rate was 30% for 2011/2012 and 2012/2013 tax years. The applicable corporate income tax rate for the subsidiaries in the PRC was 25% for each of the two years ended December 31, 2013. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Pursuant to the Corporate Income Tax Law (&#8220;the CIT Law&#8221;) of the PRC that came into effect on January 1, 2008, all the enterprises generally are subject to corporate income tax at an effective rate of 25% on income as reported in their statutory accounts. An enterprise located in specially-designated regions or cities and eligible for the preferential policy in the form of a reduced tax rate shall have five years from the time when the CIT Law takes effect to transition progressively to the legally prescribed tax rate. During this period, an enterprise that enjoyed the 15% corporate income tax rate shall be subject to the 18% tax rate for the year 2008, 20% for the year 2009, 22% for the year 2010, 24% for the year 2011, and 25% from the year 2012 onwards.&nbsp; </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>PEWS is located in Shenzhen, which is a region where preferential tax rates apply and qualified for a reduced rate of taxation of 22% and 24% for the years 2010 and 2011, respectively.&nbsp; PEWS is the only subsidiary of the Company in the PRC that qualified for the preferential tax rates under the CIT Law.&nbsp; For PEWS, the unified tax rate of 25% applied with effect from January 1, 2012.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Under the CIT law, dividend distributions of profits earned prior to January 1, 2008 to foreign investor(s) are exempt from withholding tax; distribution of the profits earned after January 1, 2008 is subject to withholding tax of 10%, reduced to 5% under the Arrangement between the Mainland of China and the Hong Kong Special Administrative Region on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income provided that the Hong Kong holding company, CCH (HK) qualified as the &#8220;beneficial owner&#8221; of the dividend income under Guoshuifa [2009] No.601.</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Management of APWC decided to simplify the CCH (HK) to have the sole function of controlling and directing its subsidiaries. CCH (HK) does not carry on substantive business activities effective early 2013. This may lead it does not qualify as the &#8220;beneficial owner&#8221; of the dividend income under Circular 601 to be applicable to withholding tax of 5%.&nbsp; As such, the withholding tax for 2013 was calculated based on 10% tax rate.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter160"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>57</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_161"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader161"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>11.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INCOME TAX (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The major components of income tax expenses for the years ended December 31, 2013 and 2012 are:</FONT></P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Consolidated income statement</FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 8.5pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp; &nbsp;</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 22.75pt" border=0 cellSpacing=0 cellPadding=0>



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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Current income tax:</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Current income tax charge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,725</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,042</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Deferred tax:</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Relating to origination and reversal of temporary differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>793</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,536</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax expense reported in the income statement</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,518</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,578</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Consolidated statement of comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="MARGIN-TOP: 1pt; TEXT-INDENT: 22.7pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Deferred tax related to items recognized in other comprehensive income during the year:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="MARGIN-TOP: 1pt; TEXT-INDENT: 22.7pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Unrealized gain (loss) on available-for-sale financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(402)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>172</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net loss on actuarial gains and losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(15)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(46)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax charged to other comprehensive (loss) income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(417)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>126</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="4%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The parent company&#8217;s tax is filed in Bermuda, which does not have a statutory tax rate. The provision for income taxes differs based on the tax incurred by the Operating Subsidiaries, in their respective jurisdiction. The Company determines its statutory tax rate based on its major commercial domicile that is its subsidiaries in Thailand. The reconciliation of the statutory tax rate and the Company&#8217;s effective tax rate is as follows:&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 22.75pt" border=0 cellSpacing=0 cellPadding=0>



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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Profit before tax</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>24,552</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Tax at statutory rate of 20% (2012: 23%)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,356</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,645</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Foreign income taxed at different rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>930</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>694</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Expenses not deductible for tax purpose</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>277</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Utilization of previously unrecognised tax losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(31)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Net deferred tax asset not recognized</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>281</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Written-off deferred tax </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>17</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Tax exempt on income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(43)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(99)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Uncertain tax position</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>82</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>34</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Return to provision adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(151)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Deferred tax liability arising from undistributed earnings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>239</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>303</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Effect of changes in temporary differences to be realized in different periods with </FONT></P>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>different enacted tax rates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(36)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Withholding tax on dividends</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>584</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>427</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Others </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(189)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Income tax expense reported in income statement</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,518</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,578</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="69%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-INDENT: 17.75pt; MARGIN: 0in 61.55pt 0pt 5.35pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At the effective income tax rate of 32.88% (2012:30.87%)</FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter161"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>58</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_162"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader162"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>11.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INCOME TAX (continued)</FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 24pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 24pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax </FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 24pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 24pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax relates to the following:</FONT></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="35%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Consolidated balance sheet</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>Consolidated income statement</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3 align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>As of January 1,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="23%" colSpan=3 align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>For the year ended Decembers 31,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 8pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Outside basis differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,690)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,451)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,148)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>239</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>302</FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Revaluations of available-for-sale </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>investment to fair value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(779)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(1,181)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(1,009)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Book over tax basis in subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(33)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(49)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(14)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Accrued interest income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(68)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(63)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(49)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>14</FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unutilized building allowance (net)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(231)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unused tax losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>194</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>306</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(197)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>326</FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Allowance for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>131</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>298</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>572</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>143</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>291</FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Inventory impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>447</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>864</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>444</FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Allowance for impairment in </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>410</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>469</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>521</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>33</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>66</FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 17.65pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Rebates and other accrued liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>774</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,308</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,983</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>417</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>716</FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unpaid retirement benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,659</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,659</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>879</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(114)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(740)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Charges related to flooding in </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Thailand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>874</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>895</FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Deferred revenue and cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>613</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>320</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(118)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(282)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Actuarial loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>62</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>46</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.1pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Unabsorbed depreciation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(482)</FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Allowance for investment property impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(15)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Deferred tax expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>793</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,536</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Net deferred tax assets</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,302</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2,096</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,560</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.5pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 33.6pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Reflected in the </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>balance sheet</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>4,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>5,820</FONT></P></TD>

   <TD vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=top width="23%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Deferred tax liabilities </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,676)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,396)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>(2,260)</FONT></P></TD>

   <TD vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=top width="23%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif>Deferred tax assets, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>1,302</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>2,096</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif>3,560</FONT></P></TD>

   <TD vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=top width="23%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD></TR>

<TR style="HEIGHT: 3.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="41%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.45pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD>

   <TD vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" color=#000000 face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt">&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 24.1pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Reconciliation of deferred tax assets, net</FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Opening balance as of January 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,096</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,560</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Tax income/(expenses) during the period recognized in profit or loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(793)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,536)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Tax income/(expenses) during the period recognized in other comprehensive income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>417</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(126)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange difference on translation foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(418)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>198</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 0pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Closing balance as of December 31</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,302</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,096</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company offset tax assets and liabilities if and only if it has legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities related to income taxes levied by the same tax authority.</FONT></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter162"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>59</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_163"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader163"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>11.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INCOME TAX (continued)</FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.3in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012 and January 1, 2012, the Company has available unused net operating losses which arose in Thailand, China and Singapore that may be applied against future taxable income and that expire as follows respectively:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.3in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.6pt">

   <TD style="HEIGHT: 12.6pt" width="61%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.6pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.6pt" width="25%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.6pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.6pt" width="61%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Year of expiration</FONT></B></P></TD>

   <TD style="HEIGHT: 12.6pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="HEIGHT: 12.6pt; BORDER-TOP: windowtext 1pt solid" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.6pt; BORDER-TOP: windowtext 1pt solid" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="HEIGHT: 12.6pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.6pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></P></TD>

   <TD style="HEIGHT: 12pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>656</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>477</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>461</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2014</FONT></P></TD>

   <TD style="HEIGHT: 12pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>161</FONT></P></TD>

   <TD style="HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>864</FONT></P></TD>

   <TD style="HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>853</FONT></P></TD></TR>

<TR style="HEIGHT: 12.6pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2015</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>866</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>361</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>356</FONT></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt" vAlign=top width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2016</FONT></P></TD>

   <TD style="HEIGHT: 12pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>842</FONT></P></TD>

   <TD style="HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>856</FONT></P></TD>

   <TD style="HEIGHT: 12pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>839</FONT></P></TD></TR>

<TR style="HEIGHT: 12.6pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2017</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,594</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1661</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 12.6pt">

   <TD style="HEIGHT: 12.6pt" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2018</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,288</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.6pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,801</FONT></P></TD></TR>

<TR style="HEIGHT: 13.15pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 1pt 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>No expiration</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>988</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BACKGROUND-COLOR: #cceeff; HEIGHT: 13.15pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 13.8pt">

   <TD style="HEIGHT: 13.8pt" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 13.8pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; HEIGHT: 13.8pt" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,739</FONT></P></TD>

   <TD style="HEIGHT: 13.8pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; HEIGHT: 13.8pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,219</FONT></P></TD>

   <TD style="HEIGHT: 13.8pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; HEIGHT: 13.8pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,966</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 22.7pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Deferred tax assets have not been recognized in respect of these losses as they may not be used to offset taxable profits elsewhere in the Company, they have arisen in subsidiaries that have been loss-making for some time, and there are no other tax planning opportunities or other evidence of recoverability in the near future. If the Company were able to recognize all unrecognized deferred tax assets, the profit would increase by $1,566 (2012:$ 1,341). </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 22.7pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 22.7pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>There are no income tax consequences attached to the payment of dividends in either 2013 or 2012 by the Company to its shareholders.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 61.55pt 0pt 22.7pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.3in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012 and January 1, 2012, the Company is subject to taxation in PRC, Australia, Thailand, and Singapore.&nbsp; The Company&#8217;s tax years from 2008 and forward are still subject to examination by the tax authorities in various tax jurisdictions</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>.&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="MARGIN: 0in 61.55pt 0pt 22.7pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter163"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>60</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_164"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader164"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>11.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INCOME TAX (continued)</FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -27pt; MARGIN: 0in 0in 0pt 27pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A reconciliation of the beginning and ending amounts of uncertain tax position is as follows: </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Change in Uncertain Tax Positions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" width="32%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance as of January 1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,302</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,640</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 6pt 0pt 15pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Additions based on tax positions related to the current year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>72</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>28</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 6pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Decrease due to lapses in statute of limitations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(108)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>(366)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 6pt 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 6pt 0pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Balance as of December 31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,266</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.45pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,302</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company is not expecting there would be any reasonably possible change in the total amounts of uncertain tax position within twelve months of the reporting date. As of December 31, 2013 and 2012 and January 1, 2012, the amount of uncertain tax position (excluding interest and penalties) included in the consolidated balance sheets that would, if recognized, affect the effective tax rate is $2,266, $2,302 and $2,640, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company recognized interest expense and penalties related to income tax matters as a component of income tax expense. The amount of related interest and penalties the Company has provided as of the dates listed below were:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 6pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Accrued interest on uncertain tax position</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,368</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,143</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,783</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 6pt 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Accrued penalties on uncertain tax position</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,284</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,256</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 6pt 0pt 9pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 7.15pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 1.25pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 6pt 0pt 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total accrued interest and penalties on uncertain tax position</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 3pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,544</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 3pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,427</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 1.25pt; PADDING-TOP: 0in" width="15%">

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

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 3pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: baseline; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,039</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company recognized $225 and $108 in interest and penalties for the year ended December 31, 2013, $360 and $28 in interest and penalties for the year ended December 31, 2012, respectively.</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -38.45pt; MARGIN: 0in 0pt 0pt 22.6pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company consider each uncertain tax positions individually, by first consider whether each position taken in the tax return is probable of being sustained on examination by the taxing authority. It should recognize a liability for each item that is not probable of being sustained. The liability then is measured using a single best estimate of the most likely outcome. The uncertain tax positions are presented in the current tax liability is the total liability for uncertain tax positions.</FONT></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter164"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>61</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_165"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader165"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>12.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>ASSETS CLASSIFIED AS HELD FOR SALE </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.5pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company held a 48.73% interest in Shandong Huayu which engages in the manufacture of optic fibers. The remaining 51.27% was owned by Shandong Pacific Fiber Optics Cable Co., Ltd.&nbsp; On December 20, 2012, the Company&#8217;s board <FONT style="FONT-SIZE: 9pt" face=Arial>of directors </FONT>approved disposal of Shandong Huayu for RMB 9.5 million (approximate $1.5 million) to Shandong Pacific Fiber Optics Cable Co., Ltd. The transaction was completed on January 15, 2013.&nbsp; As of December 31, 2012, the investment in <FONT style="FONT-SIZE: 9pt" face=Arial>Shandong Huayu </FONT>was classified as assets held for sale when required criteria was met.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 2.5pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 115%; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>13.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>EARNINGS PER SHARE </FONT></B></P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Earnings per share are calculated by dividing net&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>profit</FONT> attributable to equity holders of the parent by the weighted average number of shares outstanding during the year. The Company does not have any dilutive securities beyond the treasury shares disclosed in Note 22. The treasury shares transaction resulted in an immediate reduction in outstanding shares used to calculate the weighted-average common shares outstanding for both basic and diluted earnings per share. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The following table sets forth the computation of basic and diluted earnings attributable to common shareholders per share:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(except for number of shares and earnings per share)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Numerator:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net profit attributable to APWC from continuing operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,694</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net profit attributable to APWC from discontinued operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net profit attributable to APWC</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,694</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Denominator:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Weighted-average common shares outstanding &#8211; basic and diluted</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,820,200</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,830,751</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Earnings per share &#8211; basic and diluted</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Continuing operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>0.42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>0.70</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Discounted operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total earnings per share &#8211; basic and diluted </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>0.42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>0.70</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Income from continuing operations attributable to non-controlling interests are $5,419 and $7,280 for the years ended December 31, 2013 and 2012, respectively.</FONT></P>

<P style="MARGIN: 0in 61.55pt 0pt 0in"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter165"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>62</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_166"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader166"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>14.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>PROPERTY, PLANT AND EQUIPMENT</FONT></B></P>

<DIV align=left>

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



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Land</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Buildings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Building improvement</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Machinery and equipment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Motor vehicle and other asset and assets under finance lease</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Office equipment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Construction in progress</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,446</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>46,935</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,456</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>118,892</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,398</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,560</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,384</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>188,071</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>57</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>958</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>321</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>302</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>8,383</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,073</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(17)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(7,791)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(431)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(524)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(8,772)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Transfer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>90</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>571</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,550</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>98</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,452)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(57)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>235</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,783</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>82</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>153</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>175</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,913</FONT></P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>48,848</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,152</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>120,991</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,539</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>196,228</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>36</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>584</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>642</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,646</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>9,494</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(17)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(15,558)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(383)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(540)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(16,498)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Transfer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>641</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,868</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>232</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>72</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(8,952)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(598)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,245)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(206)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(8,173)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(300)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(414)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(42)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(12,978)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>50,725</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,623</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>100,712</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,730</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,303</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,070</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>176,246</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(27,234)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,279)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(108,341)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,163)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,870)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(146,887)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation charge for the year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,921)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(59)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,503)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(524)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(316)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,323)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation on disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,742</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>522</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>8,713</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Transfer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,100)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(75)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,879)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(83)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(130)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,267)</FONT></P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(30,243)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,404)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(106,981)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,342)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,794)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(148,764)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(30,243)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,404)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(106,981)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,342)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,794)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(148,764)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation charge for the year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1,894)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,661)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(559)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(349)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,572)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation on disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>15,549</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>351</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>537</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>16,454</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Transfer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,362</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>167</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,251</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>213</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>352</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,345</FONT></P></TD></TR>

<TR style="HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 2.85pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(29,758)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(2,346)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(86,841)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(3,337)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(5,255)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(127,537)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>20,967</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>13,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,393</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,048</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,070</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>48,709</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>18,605</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,010</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,197</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>805</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>47,464</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,446</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>19,701</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>177</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>10,551</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,235</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,384</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,184</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<a name="_bclFooter166"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>63</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_167"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader167"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>14.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>PROPERTY, PLANT AND EQUIPMENT (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Capitalized borrowing costs</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 30pt 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Capitalized interest on construction in progress is added to the cost of the underlying asset and is depreciated over the estimated useful life of the asset in the same manner as the underlying asset. The capitalized interest was related to and has been included as part of the cost of Ningbo Pacific&#8217;s construction in progress.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 30pt 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amount of borrowing costs capitalized during the years ended December 31, 2013 and 2012, was $30 and $69, respectively. The rate used to determine the amount of borrowing costs eligible for capitalization was in the range of 1.5% to 6.23% and 1.7% to 6.77%, during each of 2013 and 2012, respectively. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 30pt 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial leases under property, plant and equipment</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 30pt 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The carrying value of motor vehicles under financial leases as of December 31, 2013 and 2012 and January 1, 2012 was $8, $52 and $98, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 0.35in"><B><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 30pt 0pt 0.35in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pledge</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.35in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Information about the property, plant and equipment that were pledged to others as collaterals is provided in Note 27.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>15.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>PREPAID LAND LEASE PAYMENTS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Carrying amount as of January 1, </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,065</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Recognized lease expense during the year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(59)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(59)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>12</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" face=arial,sans-serif>Carrying amount as of December 31, </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,018</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Current portion included in prepayments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>60</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>61</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-current portion</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,939</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,957</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The property land is situated in Mainland China and is held under a long-term operating lease for 3<FONT style="FONT-SIZE: 9pt" face=Arial>3</FONT> &#8211; 50 years. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter167"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>64</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_168"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader168"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INVESTMENT PROPERTIES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 12pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The net book value of investment properties as of December 31, 2013 and 2012 and January 1, 2012 was as follow:</FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Land not being used for operation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Office buildings for rent</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1, 2012 :</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>602</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>359</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>961</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: Accumulated depreciation </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(112)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(112)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: Accumulated impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(106)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(106)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>496</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>247</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>743</FONT></B></P></TD></TR>

<TR>

   <TD width="52%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0.65pt 0in 0pt"><B><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 2.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Land not being used for operation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Office buildings for rent</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 2.85pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31, 2012 :</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>624</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>371</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>995</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: Accumulated depreciation </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(135)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(135)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: Accumulated impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(109)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(109)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>515</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>236</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>751</FONT></B></P></TD></TR>

<TR>

   <TD width="52%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Land not being used for operation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Office buildings for rent</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 4.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 4.1pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31, 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-INDENT: 3.4pt; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>345</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>926</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: Accumulated depreciation </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(142)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(142)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: Accumulated impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(38)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(38)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 5.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 5.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>543</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>203</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 0.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>746</FONT></B></P></TD></TR>

<TR>

   <TD width="52%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>A reconciliation of the net book value of investment properties was as follow:</FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value at January 1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>743</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation (included in administrative expenses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(18)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(18)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Reversal of impairment loss</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>68</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(55)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>26</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value at December 31</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>746</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>751</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Investment properties are carried at historical cost less accumulated depreciation and impairment. Land is not depreciated and office buildings are depreciated on a straight-line basis over the estimated useful lives from 20 to 30 years. </FONT></P>

<P style="MARGIN: 0in 0in 0pt 12pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter168"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>65</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_169"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader169"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>16.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INVESTMENT PROPERTIES (continued)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>The amount recognized in profit arising from the investment properties for the years ended December 31, 2013 and 2012 was as follow: </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Rental income derived from investment properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Direct operating expenses (including repairs and maintenance) </FONT><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>generating rental income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Direct operating expenses (including repairs and maintenance) that did not </FONT><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>generate rental income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net profit arising from investment properties carried at cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The fair value of the investment properties are stated below:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="53%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%" colSpan=3 align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="53%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 7.3pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="53%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="TEXT-INDENT: 1.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="53%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Land not being used for operation</FONT></P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-INDENT: 2.5pt; MARGIN: 0in 1.55pt 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,437</FONT></P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,221</FONT></P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: white 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>10,854</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="53%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Office building for rent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-INDENT: 7.3pt; MARGIN: 0in 0in 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>617</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>655</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>634</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The fair value of aforementioned investment properties have been determined based on the valuation performed by &nbsp;independent appraisers and is considered a level 3 measurement. &nbsp;The valuation has been made on the assumption to sell the property interests in the open market in the neighborhood without the benefit of any deferred term contract, leaseback, joint venture, management agreement or any similar arrangement, which would serve to increase the value of the property interests. The valuation adopted market comparison approach to estimate the fair market value of the properties. Under the market comparison approach, the appraisal is based on recent sales and listings of comparable property. Adjustments were made for differences between the subject property and those actual sales and listings regarded as comparable. The factors which used for considering the property valuation include the significant unobservable inputs, such as location, transportation, land uses, facilities, neighboring area, land characteristics, potential, regulations and liquidity. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter169"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>66</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_170"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader170"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>17.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INTANGIBLE ASSETS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0.3in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Computer software</FONT></I></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cost </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>342</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>233</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Addition</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>105</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(11)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="LINE-HEIGHT: 15pt; TEXT-INDENT: 0pt; MARGIN: 1pt 0pt 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>At December 31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>346</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>342</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Accumulated amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-INDENT: 4.5pt; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(179)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(97)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(69)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(80)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="LINE-HEIGHT: 15pt; TEXT-INDENT: 0pt; MARGIN: 1pt 0pt 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>At December 31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(242)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(179)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net book value </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>163</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 15pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.3in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The cost of acquiring software is capitalized separately as an intangible asset on the basis of the costs incurred to acquire and bring to use the specific software. Intangible assets are stated at cost less accumulated amortization. Amortization of intangible assets are charged to operating expenses and cost on a straight-line basis over 5 years from the date they are available for use. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter170"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>67</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_171"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader171"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES</FONT></B></P>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18.1 Other financial assets</FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> &nbsp;</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Financial instruments at fair value through profit or loss</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Foreign exchange forward contracts (Note 18.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>64</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total financial instruments at fair value through profit or loss</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>64</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Assets held-to-maturity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Quoted debt securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>360</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total assets held-to-maturity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>335</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>360</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Available for sale investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Unquoted equity shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,189</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,981</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Unquoted debt securities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.55pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.55pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total available for sale investments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,189</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,955</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,981</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total other financial assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,524</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,315</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,045</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12pt; BORDER-TOP: windowtext 2pt double; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,378</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>64</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 4pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.25pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,524</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,937</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.25pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,981</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial assets at fair value through profit or loss</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial assets at fair value through profit or loss reflect the positive change in fair value of those foreign exchange forward contracts that are not designated in hedge relationships, but are intended to reduce the level of foreign currency risk for expected sales and purchases. </FONT></P>

<a name="_bclFooter171"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>68</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_172"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader172"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.1</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;Other financial assets</FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (continued)</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 25.25pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Assets held-to-maturity &#8211; quoted debt securities</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>A Thai subsidiary invested $360 (Baht 11 million) in subordinated debentures of Bangkok Bank Public Company Limited. The debentures bear a fixed interest rate of 4.375% per annum with a maturity of ten years callable at the option of the issuer after five years. As the call option is clearly and closely related to the debt host contract, no bifurcation of embedded call option is required. The debentures are marketable and rated AA- by Fitch Rating (Thailand) Ltd. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The market yield is close to coupon rate. The fair value approximated its amortized cost as of December 31, 2013 and 2012.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Available-for-sale investments - unquoted equity shares</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The investments in shares of a non-listed company, which are recognized initially at fair value plus transaction costs. After initial measurement, available-for-sale financial investments are subsequently measured at fair value with unrealized gains or losses recognized as the other comprehensive income. It consists of the investments in Thai Metal Processing Co., Ltd, (&#8220;TMP&#8221;) which is engaged in the fabrication of copper rods. During the years ended December 31, 2013 and 2012, the Company received dividends of $110 and $109 from TMP, respectively, which were recorded in other income in the consolidated income statements.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Available-for-sale investments - unquoted debt securities</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.9pt 0pt 25.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company has investments with a maturity date of less than one year on fixed or non-fixed income, the Company recorded interest income related to the investments amounting to $24 and $101 as a component of interest income for the years ended December 31, 2013 and 2012, respectively. The estimated fair value of the investments are approximately their amortized cost. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter172"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>69</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_173"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader173"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.2</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 0.6in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; MARGIN-LEFT: 25.25pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="35%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.4pt; PADDING-TOP: 0in" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Interest rate</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Maturity</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="17%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14pt; PADDING-TOP: 0in" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Local currency</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>&#8216;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Local currency</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>&#8216;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Local currency</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>&#8216;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 23.55pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="18%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Current Interest-bearing loans and borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="9%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.55pt; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Bank loans </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>3.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Aug 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; WORD-BREAK: break-all" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>USD1,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>1,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; WORD-BREAK: break-all" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; WORD-BREAK: break-all" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Bank loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>6.23 ~ 7.89</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Apr 2012 ~ Nov 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>RMB69,292</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>11,336</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>RMB62,100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>9,844</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>RMB56,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>8,886</FONT></P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Term loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Sibor +2.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Mar 2013 ~ Dec 2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>USD14,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>14,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.5pt 0pt 0in; WORD-BREAK: break-all" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>USD5,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>5,000</FONT></P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Trust receipt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Sibor +1.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Jan 2012 ~ Jun 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>THB748,589</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>22,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>THB908,557</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>29,697</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.5pt 0pt 0pt; WORD-BREAK: break-all" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>THB1,<FONT style="FONT-SIZE: 8pt" face=Arial>087</FONT>,284</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>34,251</FONT></P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Trust receipt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>1.90 ~ 2.43</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Dec 2012 ~ Dec 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>SGD7,832</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>6,174</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>SGD5,268</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>4,304</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>SGD6,074</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>4,676</FONT></P></TD></TR>

<TR style="HEIGHT: 24pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="18%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>Total current interest-bearing loans and borrowings</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>41,789</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>57,845</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 24pt; PADDING-TOP: 0in" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 8pt" face=arial,sans-serif>52,813</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Under the line of credit arrangements for short-term debt with the Company&#8217;s bankers, the Company may borrow up to approximately $269,990, $336,053 and $316,369 as of December 31, 2013 and 2012 and January 1, 2012, respectively, on such terms as the Company and the banks may mutually agree upon. These arrangements do not have termination dates but are reviewed annually for renewal. As of December 31, 2013 and 2012 and January 1, 2012, the unused portion of the credit lines was approximately $171,735, $227,147 and $224,640, respectively, which included unused letters of credit amounting to $106,480, $144,183 and $128,409, respectively. Letters of credit are issued by the Company in the ordinary course of business through major financial institutions as required by certain vendor contracts. As of December 31, 2013 and 2012 and January 1, 2012, the Company had open letters of credit totaling $33,668, $39,793 and $49,596, respectively. &nbsp;Liabilities relating to the letters of credit are included in current liabilities.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.05pt; MARGIN: 0in 3.35pt 0pt 25.15pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>During 2011, CCH (HK) entered into a bank loan agreement with Bangkok Bank Hong Kong Branch with a total loan amount of US$ 14 million and a trade facility of US$ 8 million. The loan carrie<FONT style="FONT-SIZE: 9pt" face=Arial>d</FONT> an interest rate of SIBOR (Singapore Inter-bank Borrowing Rate) plus 2.5% for a period of 5.5 years, adjusted on a quarterly basis. The bank loan was guaranteed by the Company, as guarantor. As of January 1, 2012, CCH (HK) was not in compliance with certain financial and non-financial loan covenants and the loan became callable on demand. The outstanding balance was classified as current liabilities as of January 1, 2012.&nbsp; As of December 31, 2012, the loan was classified as current liabilities and it had been fully repaid in 2013.&nbsp; For information with respect to the collateral, please refer to Note 27.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 21.25pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter173"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>70</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_174"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader174"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.3</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;Hedging activities and derivatives</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif><STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </STRONG>Derivatives not designated as hedging instruments</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 24pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Foreign currency risk</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company enters into foreign exchange forward contracts with the intention to reduce the foreign exchange risk of expected sales and purchases, these contracts are not designated in hedge relationships and are measured at fair value through profit or loss. These contracts are entered into the periods consistent with foreign currency exposure of the underlying transactions, generally from one to 12 months.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 51pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012 and January 1, 2012, the Company had outstanding forward contracts with notional amounts of $nil, $nil and $2,317, respectively. The outstanding forward contracts as of January 1, 2012 expired on January 16, 2012. The Company recognized gains amounted to $nil and $64 for the years ended December 31, 2013 and 2012, respectively, in the consolidated income statements.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 51pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The forward contract balance vary with expected foreign currency transactions and changes in foreign exchange rate.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 94%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 51.05pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt" vAlign=top width="19%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt" vAlign=top width="50%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=top width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=top width="24%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt" vAlign=top width="19%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt" width="24%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="23%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt" width="24%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt" vAlign=top width="19%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BORDER-TOP: windowtext 1pt solid" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Liabilities</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.05pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="19%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="3%" align=center>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="11%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="3%" align=center>

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="3%" align=center>

   <P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="3%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="4%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 12.05pt" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 12.05pt">

   <TD style="HEIGHT: 12.05pt" vAlign=top width="99%" colSpan=13>

   <P style="MARGIN: 0in 8.3pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Foreign currency forward </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>contracts</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0pt">

   <TD style="BACKGROUND-COLOR: #cceeff" width="19%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 0in 17.5pt 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Fair value</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 11.9pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>64</FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff" width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 14pt; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>- </FONT></FONT></P></TD></TR>

<TR>

   <TD width="19%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="11%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="4%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 51pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commodity price risk</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=red face=arial,sans-serif> &nbsp;</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company purchases copper on an ongoing basis as its operating activities require a continuous supply of copper for the manufactured products. The Company exercises rigorous controls through the commodity forward contracts to reduce its exposure to the fluctuations in market prices for cooper for selected operating units. The majority of these transactions take the form of contracts that are entered into and continue to be held for the purpose of receipt or delivery of the copper in accordance with the Company&#8217;s expected sales or production timing or usage requirements. Such contracts are not within the scope of hedging accounting, or derivatives. To date, these contract positions have not had a material effect on the Company&#8217;s financial position, results of operations or cash flow.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 51pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 51pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 17.5pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter174"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>71</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_175"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader175"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.4</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;Fair values</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Set out below is a comparison by class of the carrying amounts and fair value of the Company&#8217;s financial instruments that are carried in the financial statements:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="32%" colSpan=5 align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Carrying amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="32%" colSpan=5 align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Fair value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 29.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="34%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="21%" colSpan=3 align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="21%" colSpan=3 align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 29.5pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=center>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial assets-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>62,509</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>72,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>76,672</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>62,509</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>72,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>76,672</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>122,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>125,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>98,431</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>122,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>125,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>98,431</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>19,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>18,462</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>19,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>18,462</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other current financial assets &#8211; available for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other current financial assets - derivatives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>64</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Due from related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,066</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,066</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,227</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial assets-non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current financial assets &#8211; available for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,189</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,981</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,189</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>4,577</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,981</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other non-current financial assets -held to maturity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>360</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>360</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>203,907</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>228,820</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>202,837</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>203,907</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>228,820</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>202,837</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial Liabilities-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>57,845</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>52,813</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>57,845</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>52,813</FONT></P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,369</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>40,630</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>21,138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>41,369</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>40,630</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>21,138</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,126</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,126</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>11,428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>14,693</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Due to immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial lease liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>37</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>167</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>37</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>167</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>842</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial Liabilities-non-current</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial lease liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>236</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>236</FONT></P></TD></TR>

<TR style="HEIGHT: 12.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="34%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>96,081</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>111,878</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>91,454</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>96,081</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>111,878</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 12.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>91,454</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 38.3pt; VERTICAL-ALIGN: baseline"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cash and cash equivalents, trade receivables, other receivables, due from related parties,&nbsp;trade and other payables, due to related parties, due to immediate holding company and financial lease liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 38.3pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Fixed-rate and variable-rate receivables/borrowings are evaluated by the Company based on parameters such as interest rates, specific country risk factors, individual creditworthiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are taken to account for the expected losses of these receivables. As of December 31, 2013, the carrying amounts of such receivables, net of allowances, were not materially different from their calculated fair values.</FONT></P>

<a name="_bclFooter175"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>72</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_176"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader176"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.6in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>18.4</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;Fair values</FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> (continued)</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 37.45pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Fair value</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>of&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.6pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>o</FONT>ther current financial assets - available for sale and derivatives&nbsp;is </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>d</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>e</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>rived&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.65pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>from&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1.3pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>quoted&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.7pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>market&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1.25pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>prices</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>.&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 37.45pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Fair value</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>of&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.6pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>unquoted&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>avail</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>a</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>ble-for-sale&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>financial&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1.15pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>assets&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: -0.65pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>is&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: -0.25pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>estimated&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>using&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>appropriate&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 1.6pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>valuation techniques.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0in 37.45pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman">&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>Fair value</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.05pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>of&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; LETTER-SPACING: 0.6pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>interest-bearing borrowings and loans and other non-current financial assets - held to maturity are determined by using discounted cash flow method using discount rate that reflects the issuer&#8217;s borrowing rate as of the end of the reporting period. The own non-performance risk as of December 31, 2013 was assessed to be insignificant. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 37.45pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description of significant unobservable inputs to valuation</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 97%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.7pt">

   <TD style="HEIGHT: 10.7pt" width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 10.7pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Valuation technique</FONT></P></TD>

   <TD style="HEIGHT: 10.7pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 10.7pt" width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Significant unobservable inputs</FONT></P></TD>

   <TD style="HEIGHT: 10.7pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 10.7pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Range (weighted average)</FONT></P></TD>

   <TD style="HEIGHT: 10.7pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 10.7pt" width="25%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Sensitivity of the input to fair value</FONT></P></TD></TR>

<TR style="HEIGHT: 10.7pt">

   <TD style="HEIGHT: 10.7pt" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="12%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt; BORDER-TOP: windowtext 1pt solid" vAlign=top width="14%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.7pt">

   <TD style="HEIGHT: 10.7pt" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="12%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="20%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="14%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="14%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.7pt" vAlign=top width="11%">

   <P style="TEXT-INDENT: -9.55pt; MARGIN: 0in 0in 0pt 0.05pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="20%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 13.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Available-for-sale financial investments in unquoted equity instruments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="3%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Market Approach Method</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Liquidity Discount</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>30%</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5% decrease in the discount would increase in fair value by $234</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #cceeff; HEIGHT: 11.35pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5% decrease in the discount would increase in fair value by $333</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company estimates the fair value of available-for-sale financial investments in unquoted equity shares by using the market approach (market comparatives approach). The key in this method is the selection of quoted comparable companies and accommodate adjustments to bring the accounts of different companies into a broadly consistent framework for analysis. Then, select appropriate Indicators of Value. The followings should be taken into account:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0in 47.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Enterprise Value (EV) versus Market Capitalization;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0in 47.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Earnings-based: EBITDA +/or EBIT versus Net Earnings +/or Net Cash Flow</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0in 47.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Balance Sheet based: Net Total Assets versus Shareholders Funds</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Discount for the lack of liquidity to reflect the lesser liquidity of unquoted equity instruments compared with those of its comparable public company peers. The Company assessed the discount for the lack of liquidity to be 30 percent on the basis of relevant studies applicable in the region and industry as well as on the specific facts and circumstances of the unquoted equity shares. The unquoted equity shares&#8217; finance performance is characterized by stable, consistent growth and profitability. The Company believes the liquidity discount of 30% would be appropriate.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 23.25pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company carries unquoted equity shares as available-for-sale financial instruments classified as level 3 within the fair value hierarchy.&nbsp; A reconciliation of the beginning and closing balances is summarized below:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,981</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measurement recognized in OCI</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>572</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>24</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.9pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,577</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measurement recognized in OCI</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,338)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(50)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=bottom width="85%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.5pt; PADDING-TOP: 0in" vAlign=bottom width="14%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,189</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter176"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>73</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_177"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader177"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>19.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>INVENTORIES&nbsp;</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 24.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24.05pt; PADDING-TOP: 0in" vAlign=top width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24.05pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24.05pt; PADDING-TOP: 0in" width="35%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24.05pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 24.05pt; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Raw materials and supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>25,954</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>27,284</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Work in progress </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>17,865</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Finished goods </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>44,042</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,533</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>38,266</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.05pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Distributed products</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14,880</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>12,771</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.05pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,367</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>99,590</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>100,640</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9.65pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>85,782</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Allowance for inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,396)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,556)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(7,540)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="42%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total inventories at the lower of cost and net realizable value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98,194</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98,084</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="3%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.7pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>78,242</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company reversed $1,046 and $5,161 of allowance for inventories for the year<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> ended Deceber 31,&nbsp;2013 and 2012, respectively.&nbsp; The reversal was recognized in cost of sales.&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif><BR clear=all></FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>For the years ended December 31, 2013 and 2012, the company recognized $650 and $1,643, respectively, for costs of inventories in expenses. There were $1,696 and $6,804 reversed to gains recognized when the circumstances that cause<FONT style="FONT-SIZE: 9pt" face=Arial>d</FONT> the net realizable value&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>of inventory to be&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face=Arial>lower </FONT><FONT style="FONT-SIZE: 9pt" face=Arial>than its cost no longer </FONT>existed for the year<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> ended December 31, 2013 and 2012, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter177"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>74</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_178"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader178"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>20.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>TRADE AND OTHER RECEIVABLES </FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 26.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Trade receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>124,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>127,708</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>103,045</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Less: Provision for impairment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,688)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,580)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(4,614)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Trade receivable, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>122,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>125,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98,431</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11,139</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19,495</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>18,462</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 31.9pt 0pt 30pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013, and 2012 and January 1, 2012, trade receivables of an initial value of $1,688, $2,580, and $4,614, respectively, were fully impaired. See below for the movement in the provision for impairment of trade receivables. &nbsp;&nbsp; </FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Individually impaired</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Collectively impaired</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,056</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,558</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,614</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Charge for the year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,313</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,327</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Utilized</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,2<FONT style="FONT-SIZE: 9pt" face=Arial>75</FONT>)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(161)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,4<FONT style="FONT-SIZE: 9pt" face=Arial>36</FONT>)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Unused amounts reversed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(7<FONT style="FONT-SIZE: 9pt" face=Arial>75</FONT>)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,261)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,0<FONT style="FONT-SIZE: 9pt" face=Arial>36</FONT>)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>83</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>111</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,402</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>178</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,580</FONT></B></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Charge for the year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>371</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>37</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>408</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Utilized</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,016)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,017)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Unused amounts reversed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(170)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(42)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(212)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Currency translation adjustment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(46)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(25)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(71)</FONT></P></TD></TR>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,541</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>147</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,688</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 24pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The aging analysis of trade receivables is as follows:&nbsp;&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 0pt 30pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 0.05in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="54%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past due but not impaired</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.05in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Neither past due nor impaired</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past due 1-3 months</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past due 3-6 months</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past due 6-12 months</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past due over 12 months</FONT></B></P></TD></TR>

<TR style="HEIGHT: 0.05in">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 0.05in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>122,893</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>98,956</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>22,296</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>760</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>553</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>328</FONT></P></TD></TR>

<TR style="HEIGHT: 0.05in">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>125,128</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>95,357</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>24,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,338</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,339</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>388</FONT></P></TD></TR>

<TR style="HEIGHT: 0.05in">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>98,431</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>74,817</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>17,527</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,182</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="4%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 0.05in; PADDING-TOP: 0in" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,109</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 21.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The Company obtained collateral in respect of customer doubtful accounts. The collateral takes the form of a lien over the customer&#8217;s assets and gives the Company a claim on these assets for the doubtful accounts. The Company has the first lien for the collateral. The collateral is, in general, not recorded on the balance sheet. </FONT></P>

<P style="MARGIN: 0in 0in 0pt 21.25pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.25pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>The fair value of the collateral has been determined based on the valuation performed by independent appraisers. As of December 31, 2013 and 2012 and January 1, 2012, the fair values of the collateral were $902, $826 and $800, respectively.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 21.25pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif>See Note 27(b) credit risk of trade receivables, which discusses how the Company manages and measures credit quality of trade receivables that are neither past due nor impaired</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>.&nbsp;</FONT></P>

<a name="_bclFooter178"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>75</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_179"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader179"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>21.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>CASH AND CASH EQUIVALENTS</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 27.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.6pt; PADDING-TOP: 0in" width="43%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.6pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.6pt; PADDING-TOP: 0in" width="34%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.6pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 27.6pt; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="43%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 9pt; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="43%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=top width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Cash on hand and&nbsp;at banks</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>62,<FONT style="FONT-SIZE: 9pt" face=Arial>509</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="16%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>72,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="2%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="17%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>76,672</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cash at banks earns at floating rates based on daily bank deposits rate. Cash equivalents include short-term deposits which are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Company, and earn interest at respective short-term deposit rates. As of December 31, 2013, 2012 and January 1, 2013 the Company had no cash equivalents.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>22.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>EQUITY&nbsp;&nbsp;</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 26.7pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt" align=center><B><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Authorized shares</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Number of shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Number of shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Number of shares</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Common shares of US$0.01 each </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>50,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>50,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>50,000,000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Common shares issued and fully paid</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Number of shares</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,830,769</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,830,769</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,830,769</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 26.65pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 10.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 22.4pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.4pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Outstanding shares</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Number of shares</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,830,769</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.65pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchase of treasury shares</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.65pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.65pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,900)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,828,869</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchase of treasury shares </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(9,200)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="84%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,819,669</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.45pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Additional paid-in-capital</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.45pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 10.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$,000</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>At January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>111,541</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Increase in shareholding in a subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(933)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 1.55pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>110,608</FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.1pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 0in 0pt 0pt 1.55pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Increase in shareholding in a subsidiary</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.1pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="84%">

   <P style="TEXT-INDENT: 1.55pt; MARGIN: 1pt 0pt 0pt 1.55pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>At December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>110,608</FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter179"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>76</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_180"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader180"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>22.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>EQUITY (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 0.35in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other comprehensive income &#8211; net of tax</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The disaggregation of changes of other comprehensive income by each type of reserve in equity is shown below:</FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="63%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31, 2013</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; PADDING-TOP: 0in" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Available-for-sale reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Foreign currency translation reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Actuarial losses on defined benefit plans</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 28.35pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange difference on translation of foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(15,418)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(15,418)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measuring <FONT style="FONT-SIZE: 9pt" face=Arial>losses </FONT>on defined benefit plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(36)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(36)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Net&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>loss</FONT> on available-for-sale financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(936)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(936)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 16.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(936)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(15,418)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(36)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(16,390)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="63%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31, 2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 36.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Available-for-sale reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Foreign currency translation reserve</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Actuarial losses on defined benefit plans</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="36%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 0pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Exchange difference on translation of foreign operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,113</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,113</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Re-measuring <FONT style="FONT-SIZE: 9pt" face=Arial>losses </FONT>on defined benefit plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(107)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(107)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="TEXT-INDENT: -4.5pt; MARGIN: 0in 0in 0pt 4.5pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Net gain on available-for-sale financial assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>400</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 16.3pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="36%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>400</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,113</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(107)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 16.3pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,406</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter180"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>77</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_181"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader181"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>23.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;EMPLOYEE BENEFIT</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pension &#8211; Defined contribution plans</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company has several defined contribution plans covering its employees in Australia, PRC and Singapore. Contributions to the plan are made annually. Total charges of continuing operations for the years ended December 31, 2013 and 2012 were $1,372, and $1,253, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pension &#8211; Defined benefit plans</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The defined benefit liability recognized in the consolidated balance sheet in respect to defined benefit plans is the present value of the defined benefit obligation at the end of the reporting period, together with adjustments for past service costs and actuarial losses. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using future actuarial assumptions about demographic and financial variables that affect the determination of the amount of such benefits. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s accounting policy for defined benefit plans is to recognize:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Actuarial gains and losses from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24pt; MARGIN: 0in 0in 0pt 48pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face="wingdings 3">}</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Past-service costs are recognized immediately in profit or loss.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In accordance with the Thailand labor law, Charoong Thai and its subsidiaries are obliged to make payment to retiring employees, at rates of 1 to 10 times of their final month&#8217;s salary rate, depending on the length of service. &nbsp;In addition, Charoong Thai also has the extra benefit plan to make payment to qualified retiring employees, the extra benefits payment to retiring employees was changed at rates of 1 to 5 times of final month's salary to 29 times effective January 1, 2012. The changes created a prior service cost and increased the benefit obligation totaling $3million (Baht 91million). The Company&#8217;s net benefit cost was $549 and $3,249 for the years ended December 31, 2013 and 2012, respectively. &nbsp;The plan is not funded, as of December 31, 2013 and 2012 and January 1, 2012, the amount recognized were $419, $453 and $1,005 in current liabilities, $5,455, $5,387 and $2,310 in non-current liabilities, respectively. The Company pays to settle the obligations as and when employees retire.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The following tables summaries the components of net benefit expense recognized in the income statement and the funded status and amounts recognized in the consolidated balance sheet for the plan:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline">&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the years ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net benefit cost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Current service cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>322</FONT></P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>192</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest cost on benefit obligation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>128</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past service costs recognized</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,929</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom>

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net benefit cost </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>549</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,249</FONT></B></P></TD></TR>

<TR>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 61.55pt 0pt 5.35pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the years ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Other comprehensive income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Actuarial (gain) / loss &#8211; experience</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>185</FONT></P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>499</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Actuarial (gain) / loss &#8211; demographic assumption</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Actuarial (gain) / loss &#8211; financial assumption</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(157)</FONT></P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(346)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom>

   <P style="MARGIN: 1pt 0pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Actuarial (gain) / loss </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>51</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>153</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Change in the defined obligation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Defined benefit obligation at January 1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,840</FONT></P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,315</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Current service cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>192</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest cost on benefit obligation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>227</FONT></P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

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

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>128</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0pt 0pt 0in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Past service costs recognized</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,929</FONT></P></TD></TR>

<TR>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD>

   <TD>&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV>

<a name="_bclFooter181"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>78</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_182"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader182"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>23.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>EMPLOYEE BENEFIT (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;</FONT></P></TD>

   <TD vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD vAlign=middle width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=middle width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net benefit cost for the current period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,564</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Benefits paid directly by the Company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(138)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(1,038)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Actuarial loss in other comprehensive income </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>51</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>153</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Exchange differences</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(428)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>161</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Defined benefit obligation at December 31 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,874</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,840</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp; &nbsp;</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Actuarial assumptions</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The significant assumptions used in determining the actuarial present value of the defined benefit obligations for the year ended December 31, 2013 and 2012 are as follows:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT face=Arial></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Discount rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4.0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Rate of salary increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6.0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><B><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Maturity profile of defined benefit obligation</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>The following payments are expected contribution to be made in the future years out of the defined benefit plan obligation:</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="29%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="66%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Within the next 12 months (next annual reporting period)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>419</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>453</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Between 2 and 5 years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,467</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,196</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Between 5 and 10 years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,352</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,248</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Beyond 10 years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15,342</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15,677</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="66%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total expected payments </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19,580</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19,574</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="66%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Weight average duration of defined benefit obligation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15 years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15 years</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Sensitivity analysis</FONT></I></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>A one-percentage point change in the assumed rate of increase in defined benefit&nbsp; would have yielded the following effects:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 24.1pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Discount rate &#8211; 1% increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(544)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(581)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Discount rate &#8211; 1% decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>638</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>683</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Rate of salary increase &#8211; 1% increase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>621</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>662</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Rate of salary increase &#8211; 1% decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(541)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(576)</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The sensitivity result above determines their individual impact on the plan&#8217;s year-end defined benefit obligation. In reality, the plan is subject to multiple external experience items which may move the defined benefit obligation in similar or opposite directions, while the plan&#8217;s sensitivity to such changes can vary over time.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter182"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>79</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_183"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader183"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -49.65pt; MARGIN: 0in 0in 0pt 49.65pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>23. &nbsp;&nbsp; EMPLOYEE BENEFIT (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><B><I><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Long service leave</FONT></I></B></P>

<P style="MARGIN: 0in 0in 0pt 24.1pt"><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The liability for long service leave is recognized in the provision for employee benefits and measured as present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departure, and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currencies that match as closely as possible, the estimated future cash outflows.&nbsp; As of December 31, 2013 and 2012 and January 1, 2012, the amounts of long service leave was $577, $597 and $507, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>24.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>TRADE AND OTHER PAYABLES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 25.25pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 26.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" vAlign=bottom width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 26.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.5pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.15pt; PADDING-TOP: 0in" vAlign=top width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 7.3pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Trade payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>34,304</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>31,823</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 7.3pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>12,000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 13.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,065</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8,807</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 13.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,138</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 15.2pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,369</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>40,630</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 15.2pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21,138</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terms and conditions of the above financial liabilities:</FONT></P>

<P style="TEXT-INDENT: -4.55pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman"> &nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Trade payables are non-interest bearing and are normally settled on 60-day terms. </FONT><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=red face=arial,sans-serif>&nbsp;&nbsp;</FONT></B></P>

<P style="TEXT-INDENT: -4.55pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman"> &nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;Other payables are non-interest bearing and have an average term of 60-day.&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US color=red face=arial,sans-serif>&nbsp;&nbsp;</FONT></B></P>

<P style="TEXT-INDENT: -4.55pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 6pt" lang=EN-US color=#7e7d83 face="wingdings 3">u</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US color=#7e7d83 face="times new roman"> &nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;For terms and conditions relating to other related parties, refer to Note 25.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter183"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>80</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_184"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader184"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>RELATED PARTY TRANSACTIONS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The related parties are defined as affiliates of the Company; entities for which investments are accounted for by the equity method by the Company; the principal owners of the Company; its management; members of the immediate families of the principal owners of the Company and its management.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Moon View Venture Limited (&#8220;Moon View&#8221;), PEWC, Singapore Branch and PEWC Singapore Co. (Pte) Ltd. are controlled by PEWC.&nbsp; Moon View is the immediate holding company of the Company. Italian-Thai Development Public Company Limited (&#8220;Italian-Thai&#8221;) is the non-controlling shareholder of one of the Company&#8217;s operating subsidiaries in Thailand. SPHC is one of the Company&#8217;s equity investees. Fujikura Limited is a non-controlling shareholder of one of the Company&#8217;s operating subsidiaries in Thailand.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42.5pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(a)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Outstanding balance with related parties:</FONT></I></B></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=13>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>The following table provided the total amount of outstanding balance at December 31, 2013 and 2012, and January 1, 2012.</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="32%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Amounts due from related parties</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="32%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Amounts due to related parties</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="21%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="21%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>The ultimate parent company</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>PEWC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,233</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>542</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,797</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,630</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,513</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,490</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>PEWC, Singapore Branch</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,114</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,071</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>892</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>892</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>893</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>PEWC Singapore Co. (Pte) Ltd.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,074</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,185</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,276</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>The immediate holding company</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Moon View </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,732</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Associate</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>SPHC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>177</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>327</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,179</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,362</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,493</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,384</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Shandong Huayu</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>406</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling shareholder of subsidiary </FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></I>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Italian-Thai and its affiliates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,096</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,180</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Fujikura Limited</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>98</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>184</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>70</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>60</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="34%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>3,842</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,066</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,227</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>12,858</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>13,160</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.65pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>16,425</FONT></B></P></TD></TR>

<TR>

   <TD width="34%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD>

   <TD width="1%">&nbsp;</TD>

   <TD width="10%">&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012, the interest rates on the balance with PEWC Singapore Co., (Pte) Ltd. range from 1.25% to 1.31% and 1.36% to 1.58%, respectively <FONT style="FONT-SIZE: 9pt" face=Arial>and are </FONT>repayable upon demand. All balances with related parties are unsecured. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter184"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>81</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_185"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader185"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.&nbsp;&nbsp;&nbsp; RELATED PARTY TRANSACTIONS (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 3.25pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(b)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Transactions with related parties:</FONT></I></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42.1pt; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp; The transactions undertaken with related parties are summarized as follows:</FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="37%">

   <P style="MARGIN: 1pt 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="29%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="29%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="37%">

   <P style="MARGIN: 1pt 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="12%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="5%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="12%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>The ultimate parent company</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>PEWC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=bottom width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of materials </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15,505</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21,443</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of products</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9,083</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of machinery </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>203</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>106</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Management fee received </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>19</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Management fee paid </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>388</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Information technology service fee paid </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>118</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>136</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>PEWC, Singapore Branch</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Management fee received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>15</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>PEWC</FONT><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif> Singapore Co. (Pte) Ltd.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest expenses paid </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>14</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Non-controlling shareholder of subsidiary</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Italian Thai and its affiliates</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,563</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="TEXT-INDENT: 9pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Fujikura Limited</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Purchases of products</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,074</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp; Terms and condition of transactions with related parties</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The sales to and purchases from related parties are <FONT style="FONT-SIZE: 9pt" face=Arial>b</FONT>ased on negotiation by the entities. Outstanding balances at the year-end are unsecured and interest free. There have been no guarantees provided or received for any related party receivables or payables. For the year<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> ended December 31, 2013 and 2012, the Company&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>did</FONT> not record any impairment of receivables relating to amounts owed by related parties. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.2pt; MARGIN: 1.8pt 0in 0pt 42.2pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Copper is the major raw material of the Company&#8217;s wire and cable products.&nbsp; The Company purchases copper in the form of copper rods and copper cathode.&nbsp; Copper cathode is purchased by Siam Pacific to avoid the high import tariffs levied on copper rods.&nbsp; Copper cathode needs to be processed into copper rods prior to the manufacturing of wire and cable products.&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.2pt; MARGIN: 1.8pt 0in 0pt 42.2pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Substantially all of the Company&#8217;s copper rods are supplied by PEWC while copper cathodes are supplied by unrelated third parties. The price of copper rods purchased from PEWC is determined by reference to the quoted copper prices on the London Metal Exchange (the &#8220;LME&#8221;) plus a certain premium.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter185"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>82</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_186"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader186"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.25in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>25.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT></B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>RELATED PARTY TRANSACTIONS (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.2pt; MARGIN: 1.8pt 0in 0pt 42.2pt; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Terms and condition of transactions with related parties (continued)</FONT></I></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.2pt; MARGIN: 1.8pt 0in 0pt 42.2pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In addition to copper rods, the Company purchases high voltage power cable from PEWC for distribution purposes. The purchase price of power cable from PEWC is determined by reference to the quoted copper prices on the LME. No sales commission was received from PEWC during the years ended December 31, 2013 and 2012.&nbsp;&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.2pt; MARGIN: 1.8pt 0in 0pt 42.2pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.2pt; MARGIN: 1.8pt 0in 0pt 42.2pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pursuant to the composite services agreement:</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -19.1pt; MARGIN: 1.8pt 0in 0pt 64.45pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(a)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;PEWC will sell copper rod to the Company, upon the Company&#8217;s request, (i) at a price consisting of the average spot price of copper on the LME for the one month prior to purchase plus an agreed upon premium, (ii) at prices and on terms at least as favorable as it provides copper rod to other purchasers of similar amounts of copper rod in the same markets as PEWC and (iii) will give priority in the supply of copper rod to the Company over other purchasers of copper rod from PEWC.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -1.1in; MARGIN: 1.8pt 0in 0pt 109.2pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 1.8pt 0in 0pt 63.4pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(b)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>PEWC grants to the Company the right to distribute any wire or cable product manufactured by PEWC in all markets in which the Company presently distributes or develops the capability to distribute in the future, such products on such terms as have historically been in effect or on terms at least as favorable as PEWC grants to third parties that distribute such products in such markets. However, PEWC shall not be required to grant to the Company the right to distribute products manufactured by PEWC in the future in markets where the Company does not currently have the capability to distribute unless and until PEWC has no pre-existing contractual rights which would conflict with the grant of such right to the Company.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 1.8pt 0in 0pt 63.4pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(c)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>PEWC will make available to the Company, upon the Company&#8217;s request and on terms to be mutually agreed between PEWC and the Company from time to time, access to certain of PEWC&#8217;s technology (and PEWC personnel necessary to use such technology) with respect to the design and manufacture of wire and cable products, including, without limitation, certain fiber optic technology.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 1.8pt 0in 0pt 63.4pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(d)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>PEWC will make available to the Company, upon the Company&#8217;s request and on terms to be mutually agreed between PEWC and the Company from time to time, certain services with respect to the design and manufacture of wire and cable products, computerization, inventory control, purchasing, internal auditing, quality control, emergency back-up services, and recruitment and training of personnel; such services may include the training of the Company&#8217;s employees and managers at PEWC facilities and the secondment of PEWC employees and managers to the Company.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 1.8pt 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 1.8pt 0in 0pt 63.4pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(e)</FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Each of PEWC and the Company will offer the other party the right to participate in any negotiations with a third party concerning the establishment of any facility or similar venture to manufacture or distribute any wire or cable product outside of the markets where the Company currently manufactures or distributes, or intends to develop the capability to manufacture or distribute, any wire or cable product. Unless the Company and PEWC mutually agree otherwise, the Company shall have the right of first refusal to enter into any definitive agreement with such third party. If, however, such third party would not agree to the substitution of the Company for PEWC or such substitution would prevent the successful completion of the facility or venture, PEWC will arrange for the Company to participate to the extent possible.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 43.6pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(c)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Compensation of key management personnel of the Company </FONT></I></B></P>

<P style="MARGIN: 0in 0in 0in 43.6pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>For the years ended December, 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="68%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Short-term employee benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,808</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>5,712</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Post-employment benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>95</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>91</FONT></P></TD></TR>

<TR style="HEIGHT: 14.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=top width="68%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Termination benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>182</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>684</FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="68%">

   <P style="MARGIN: 1pt 0pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total compensation paid to key management personnel</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>7,085</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>6,487</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -13.5pt; MARGIN: 0in 0in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The amounts disclosed in the table are the amounts recognized as an expense during the reporting period related to key management personnel.</FONT></P>

<a name="_bclFooter186"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>83</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_187"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader187"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>26.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>COMMITMENTS AND CONTINGENCIES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(a)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Operating lease commitments &#8211; the Company as lessee</FONT></I></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0.4in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company leases a piece of land in Singapore and certain buildings under non-cancellable operating lease arrangements for terms from 5 to 30 years.</FONT></P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 31.7pt 0pt 24.3pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 31.7pt 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future minimum rental payable under non-cancellable operating leases with initial terms of one year or more consisted of the following:</FONT></P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 31.7pt 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT face=Arial></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>Within one year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>913</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,033</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>866</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>After one year but not more than five years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,331</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,442</FONT></P></TD></TR>

<TR style="HEIGHT: 14.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" face=arial,sans-serif>More than five years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,060</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,317</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 13pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2,354</FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 1pt 0pt 0pt 0in"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,679</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,681</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>4,662</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(b)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Finance lease and hire purchase commitments</FONT></I></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 31.7pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company leases certain machinery and equipment under capital leases.</FONT></P>

<P style="MARGIN: 0in 31.7pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 0.4in 0pt 43.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future minimum payments under capital leases and non-cancellable operating leases with initial terms of one year or more consisted of the following as of December 31:</FONT></P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 31.7pt 0pt 24.3pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 36.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Minimum payments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Present value of payments (Note 14 )</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Minimum payments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Present value of payments (Note 14 )</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Minimum payments</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 36.85pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1, 2012 Present value of payments (Note 14 )</FONT></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="22%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -9pt; MARGIN: 0in 0in 0pt 9pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Within one year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>37</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>179</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>167</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>882</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>842</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>After one year but not more than five years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>29</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>28</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>82</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>253</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>236</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>More than five years</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Total minimum lease payments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>70</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>65</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>261</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>243</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,135</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,078</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Less: amount representing finance charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(18)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(57)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17.65pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>Present value of minimum lease payment</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>65</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>65</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>243</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>243</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,078</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; PADDING-TOP: 0in" width="1%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 17.65pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 14pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>1,078</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 24.6pt 0pt 42pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012 and January 1, 2012, the capital lease liabilities are secured by the leased machinery and equipment at cost of $139, $199 and 195, respectively. The accumulated depreciation of these leased assets as of December 31, 2013<FONT style="FONT-SIZE: 9pt" face=Arial>,</FONT> 2012 and January 1, 2012, &nbsp;amounted to $131, $147, and 97, respectively. The depreciation of machinery and equipment under capital leases are included in the depreciation expenses under costs of sales.&nbsp; The average discount interest rate implicit in the lease is in the range of 6.57% to 8.58% and 6.5% to 8.77%, for 2013 and 2012, respectively. </FONT></P>

<a name="_bclFooter187"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>84</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_188></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader188"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -21pt; MARGIN: 0in 0in 0in 21.7pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>26.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>COMMITMENTS AND CONTINGENCIES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 88.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(c)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Purchase commitments</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -1in; MARGIN: 0in 3.35pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2013 and 2012, the Company and its subsidiaries had commitments to purchase raw materials totaling $174.9 million to $234.0 million and $184.0 million to 231.7 million (23,116 to 30,780 metric tons, and 22,590 to 28,455 metric tons), respectively, from third parties at the prices stipulated in the contracts.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -1in; MARGIN: 0in 3.35pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></I>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(d)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Capital commitments</FONT></I></B></P>
<P style="MARGIN: 0in 0in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 42.55pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012, the Company and its subsidiaries had capital commitment relating to the construction of factory building improvement and acquisition of machinery, totaling $3.1 million and $2.5 million, respectively.</FONT></P>
<P style="MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(e)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Guarantees&nbsp;</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 3.35pt 0pt 1in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012, Charoong Thai and its subsidiaries had given continuing corporate guarantee of $10.7 million and $10.8 million, respectively, in respect of banking facilities extended to two Operating Subsidiaries.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012, the Company provided a corporate guarantee not exceeding the sum of $ 31.2 million and $31.2 million, respectively, for the bond performance and banking facility of Sigma Cable.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012, there were outstanding bank guarantees of $34.78 million and $30.9 million, respectively, issued by the banks on behalf of Charoong Thai and its subsidiaries in respect of certain performance bonds as required in the normal course of business of the companies. These guarantees generally expire within 1 year.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.25pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(f)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Service commitments</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 1in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -42.55pt; MARGIN: 0in 0in 0pt 42.55pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2013 and 2012, the Company and its subsidiaries had commitments in respect of repair and maintenance consulting services with unrelated parties and related parties totaling $0.24 million and $0.2 million, respectively, and $2.15 million and $nil, respectively. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -42.55pt; MARGIN: 0in 0in 0pt 42.55pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(g)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Share pledge</FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 1in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2012, the Company pledged 161.5 million shares of Charoong Thai for a $14 million term loan facility and a $8 million trade facilities of CCH HK. The share pledge has been discharged in 2013.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(h)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; Agreement </FONT></I></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As disclosed in note 1, on June 28, 2007 SOF entered into a Shareholders&#8217; Agreement with the Company and PEWC. On March 27, 2009, SOF sold 10.2% of the issued and outstanding shares of the Company to PEWC. On July 1, 2011, SOF transferred its remaining 9.8% interest in the Company to COF, which became a party to the Amended Shareholders Agreement, which provides for the following:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><U><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Indemnification</FONT></U></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company must certify to SOF (now became COF) whether or not it is considered a Controlled Foreign Corporation or a Passive Foreign Investment Company as of each fiscal year end. Should this certification be challenged by the taxing authorities and found to be incorrect, the Company must indemnify SOF (now became COF) and its shareholders against interest and penalties that may be imposed and reasonable attorney&#8217;s fees incurred.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>It is management&#8217;s opinion that this indemnification will not result in any adverse material financial consequence to the Company.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 6pt 0pt 0.6in; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Controlled Foreign Corporation is any foreign corporation of which more than 50 percent of either &#8211;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(1) The total combined voting power of all classes of stock of the corporation entitled to vote; or </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter188"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>85</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_189></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader189"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>26.&nbsp;&nbsp;&nbsp; COMMITMENTS AND CONTINGENCIES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 42pt; VERTICAL-ALIGN: baseline"><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(h)</FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></I></B><B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Shareholders&#8217; Agreement </FONT></I></B><I><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(continued)&nbsp;</FONT></I></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(2) The total value of the stock of the corporation, is owned by United States shareholders on any day during the taxable year of such foreign corporation. The term &#8220;United States Shareholders&#8221; is defined to mean only U.S. shareholders holding blocks of 10% or more of the common shares. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 88.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Passive Foreign Investment Company (&#8220;PFIC&#8221;) has one of the following attributes:</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(1) At least 75% of the corporation's income is considered "passive", which is based on investments rather than standard operating business.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(2) At least 50% of the company's assets are investments that produce interest, dividends and/or capital gains. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>PFICs include foreign-based mutual funds, partnerships and other pooled investment vehicles that have at least one U.S. shareholder.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#ff99cc face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><U><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Registration Rights</FONT></U></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company has prepared and filed with the SEC a registration statement on Form F-1 (now converted to Form F-3) covering the resale of the &#8220;Registrable Securities&#8221; for an offering to be made on a continuous basis pursuant to Rule 415 of the Securities Act of 1933, which registration statement was declared effective under the Securities Act by the SEC on Marc</FONT><FONT style="LETTER-SPACING: 0pt; FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=windowtext face=arial,sans-serif>h 11, 2009, but requires updating by means of incorporation by reference of futures filings with the SEC or the filing of a post-effective amendment to include the most recent annual audited financial statements, and, from time to time, unaudited financial statements for the six month period then ended</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>.&nbsp; &#8220;Registrable Securities&#8221; includes the shares beneficially owned by COF and the 10.2% of the common shares acquired by PEWC from SOF in March 2009.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Subject to the Amended Shareholders&#8217; Agreement, the Company must use its reasonable best efforts to keep such registration statement continuously effective until (i) all Registrable Securities either have been sold or may be sold without volume restrictions pursuant to Rule 144 of the Securities Act of 1933 and (ii) COF receives freely transferable shares from the Company&#8217;s transfer agent.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>If any such registration statement ceases to remain continuously effective for any reason after the effective date and during any time when the registration statement is required to be effective, or SOF (now became COF) is otherwise not permitted to utilize the prospectus therein to resell such Registrable Securities, in either case, for more than thirty (30) consecutive trading days or more than an aggregate of sixty (60) trading days during any twelve month period (an &#8220; Event &#8221;), then the &#8220;Put Right&#8221; (as explained in note 1) will become immediately exercisable and will continue until such event has been cured.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.6in"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0in 6pt 0in 0in" align=left><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter189"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>86</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_190></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader190"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>FINANCIAL RISK MANAGEMENT OBJECTIVES</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 38.75pt 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial risks are those derived from financial instruments the Company is exposed to during or at the closing of each fiscal year. The objective of the Company&#8217;s financial risk management is to minimize its risk exposure against various financial risks, which include market risk, credit risk and liquidity risk. The Company uses derivate instruments to cover certain risks when it considers it necessary. It is the Company&#8217;s policy that no trading in derivatives for speculative purposes shall be undertaken.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company manages its exposure to key financial risks, as described in the succeeding paragraphs.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0.5in 0pt 39.3pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(a)</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;Market risk </FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise four types of risk: interest rate risk, equity price risk foreign currency risk and&nbsp;commodity price risk. Financial instruments affected by market risk include loans and borrowings, available-for-sale investments and derivative financial instruments.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The sensitivity analyses in the following sections relate to the position as of December 31, 2013 and 2012.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp;</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The analyses exclude the impact of movements in market variables on the carrying value of other post-retirement obligations provisions and on the non-financial assets and liabilities of foreign operations.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest rate risk</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s exposure to interest rate risk is arising from borrowing at floating interest rates.&nbsp; Changes in interest rate will affect future cash flows but not the fair value. Less than 40% of the Company&#8217;s financial liabilities bear floating interest rate and rest of financial liabilities either bears fixed interest rate which are close to the market rate or non-interest rate. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>At the reporting dates, a change of 30 basis points of interest rate in a reporting period could cause the profit for the years ended December&nbsp;31, 2013 and 2012 to increase/decrease by $100 and $102, respectively.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.7pt 0pt 42pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Equity price risk</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.7pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.7pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company&#8217;s unlisted equity security is classified as non-current financial assets-available for sale which is subsequently measured at estimated fair value.&nbsp; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.7pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.7pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>At the reporting date, the exposure to unlisted equity security at fair value was $3.2 million.&nbsp; Sensitivity analysis of the unlisted equity investment has been provided in Note 18.4.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter190"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>87</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_191></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader191"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -24.95pt; MARGIN: 0in 0in 0in 24.95pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>&nbsp;FINANCIAL RISK MANAGEMENT OBJECTIVES (continued)</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Foreign currency risk</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company&#8217;s exposure to the risk of changes in foreign exchange rates arise from sales, purchases and borrowings by operating units in currencies other than the unit&#8217;s functional currency. The Company&#8217;s principal operations are located in Thailand, the PRC and Singapore and a substantial portion of its revenues are denominated in Thai Baht, US Dollars or Singapore Dollars, whereas a substantial portion of the Company&#8217;s cost of sales are denominated in US Dollars. Any devaluation of the Thai Baht or Singapore dollar against the US dollar would have an adverse impact on the operations of the Company. The Company currently does not maintain a foreign currency hedging policy. However, management monitors the foreign exchange exposure and will consider hedging significant foreign currency exposure should the need arise.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The balance of financial assets and liabilities denominated in a currency different from the Company&#8217;s functional currency are summarized below.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 42.5pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 23.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="34%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="32%" colSpan=5>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial Assets</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="32%" colSpan=5>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Financial Liabilities</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 23.05pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="34%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="21%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31,</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; PADDING-TOP: 0in" width="21%" colSpan=3>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of December 31</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 23.05pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>As of January 1</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 11.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="34%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2012</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 11.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%">
<P style="TEXT-ALIGN: right; MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="HEIGHT: 11.8pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Thai Baht</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>228,870</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>489,130</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>288,725</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>214,816</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>451,169</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>449,201</FONT></P>
</TD></TR>
<TR style="HEIGHT: 11.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Singapore dollar</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,514</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,989</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>73</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,637</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,592</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>(4,890)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 11.8pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Taiwan dollar</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>26,248</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>7,919</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>6,076</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,910</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>2,024</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>1,900</FONT></P>
</TD></TR>
<TR style="HEIGHT: 11.8pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>Renminbi (RMB)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>80,404</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>24,686</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" width="10%" align=right>
<P style="MARGIN: 0in 1.7pt 0pt 0in; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>85,222</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>5,389</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.8pt; PADDING-TOP: 0in" vAlign=top width="10%" align=right>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif>3,239</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Foreign currency sensitivity</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The following table demonstrates the sensitivity of the Company&#8217;s profit before tax and equity to a reasonably possible change of each foreign currency exchange rates against US dollar, with all other variables held constant.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0.85pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="HEIGHT: 18.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="17%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Change rate</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>THB</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>SGD</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>TWD</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>CNY</FONT></B></P>
</TD></TR>
<TR style="HEIGHT: 18.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" rowSpan=2 width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2012</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="17%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>12 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(29)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>4 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>39 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 18.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="17%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-5%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(26)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>29 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(4)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(39)</FONT></P>
</TD></TR>
<TR style="HEIGHT: 18.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="17%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>&nbsp;</TD></TR>
<TR style="HEIGHT: 18.95pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" rowSpan=2 width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2013</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="17%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>8 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(40)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>15 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>122 </FONT></P>
</TD></TR>
<TR style="HEIGHT: 18.95pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="17%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-5%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(6)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="13%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>41 </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(11)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="4%" noWrap>&nbsp;</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 18.95pt; PADDING-TOP: 0in" width="12%" noWrap>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=red face=arial,sans-serif>(123)</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter191"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>88</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<A name=page_192></A>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader192"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>
</DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.&nbsp; FINANCIAL RISK MANAGEMENT OBJECTIVES (continued)</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Commodity price risk</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company is affected by the volatility of certain commodities. Copper is the principal raw material used by the Company. The Company purchases copper at price closely related to the prevailing international spot market on the London Metal Exchange for copper. The price of copper is influenced heavily by global supply and demand as well as speculative trading. Consequently, a change in the price of copper will have a direct effect on the Company&#8217;s cost of sales.&nbsp; The Company does not use derivative instruments to hedge the price risk associated with the purchase of these commodities.&nbsp; However, we cover some of these risks through long-term purchase contracts.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Commodity price sensitivity</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The following table shows the effect of price changes in copper.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 95%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>Change in year-end price</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>Effect on profit before tax</FONT></B></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT></B>&nbsp;</P>
</TD>
     <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>Effect on equity</FONT></B></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>US$&#8217;000</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 6pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>2013</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>+13%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>3,730</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 6pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>N/A</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>Copper</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>-13%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>(3,730)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>N/A</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>2012</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>+13%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>3,747</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>N/A</FONT></P>
</TD></TR>
<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 3.5pt">
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>Copper</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="1%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>-13%</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>(3,747)</FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.45pt; PADDING-RIGHT: 1.45pt; HEIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>
<P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-GB face=arial,sans-serif>N/A</FONT></P>
</TD></TR></TABLE></DIV>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In average, copper composes around 84% of the product cost.&nbsp; The above sensitivity analysis is based on the average fluctuation rate in the past five years and one month manufacturing lead time to estimate its impact on profit before tax.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 0in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0.5in 0pt 39.3pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(b)</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;Credit risk</FONT></B></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Credit risk arises from the financial assets of the Company, which comprises cash and cash equivalents, held-to-maturity securities and trade and other receivables.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company maintains cash and cash equivalents with various financial institutions. These financial institutions are located in Singapore, Thailand, Australia, Hong Kong and the People&#8217;s Republic of China. The Company&#8217;s policy is designed to limit its exposure to any one institution. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company&#8217;s investment strategy. In addition, in selected countries, the Company uses credit rating agency such as Dun and Bradstreet to screen out new low performing customers. Customers are given credit terms over time when they establish good payment patterns with the Company. </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Concentrations of credit risk with respect to accounts receivable are limited due to the large number of entities comprising the Company&#8217;s customer base. The Company carefully assesses the financial strength of its customers and generally does not require any collateral. The Company&#8217;s exposure to credit risk arises from default of counterparty, with maximum exposure equal to the carrying amount of these financial instruments.&nbsp; </FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company is exposed to credit loss in the event of non-performance by counter-parties on foreign exchange contracts, but the Company has not experienced any of the above stated situations.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 24.6pt 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>As of December 31, 2013 and 2012 and January 1, 2012, trade receivables from <FONT style="FONT-SIZE: 9pt" face=Arial>one </FONT>customer represented 10<FONT style="FONT-SIZE: 9pt" face=Arial>.2</FONT>%,&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>10% </FONT>and nil of total trade receivables of the Company, respectively. The credit concentration risk of other trade receivables is insignificant.</FONT></P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0.5in 0pt 42pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 31.7pt 0pt 24pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>
<a name="_bclFooter192"></a><DIV>
<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>89</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>
<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>
</DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_193"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader193"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.&nbsp; FINANCIAL RISK MANAGEMENT OBJECTIVES (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -28.35pt; MARGIN: 0in 0.5in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(c)</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;Liquidity risk</FONT></B></P>

<P style="TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Liquidity risk arises from the financial liabilities of the Company and its subsequent ability to meet their obligations to repay their financial liabilities as and when they fall due. Management manages the Company&#8217;s liquidity risk by closely monitoring cash flow from the operations. The Company has about $6<FONT style="FONT-SIZE: 9pt" face=Arial>3</FONT> million cash <FONT style="FONT-SIZE: 9pt" face=Arial>and cash equivalents </FONT>on hand, $172 million unutilized amount of bank loans, and the total financial liabilities is $96 million at the reporting date, which results in a net asset position. Liquidity risk is considered to be minimal.</FONT></P>

<P style="TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The table below summarizes the maturity profile of the Company&#8217;s financial liabilities based on contractual undiscounted payments. </FONT></P>

<P style="TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 1.4pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&lt; 1 year</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2 to 3 years</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>4 to 5 years</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&gt; 5 years</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>As of December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Financial liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>41,789 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>41,789 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>41,369 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>41,369 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>11,126 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,126 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Due to immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Finance lease liability</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>37 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>28 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>65 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>94,321 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>28 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>96,081 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>As of December 31, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Financial liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>57,845 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>57,845 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>40,630 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>40,630 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>11,428 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,428 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Due to immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Finance lease liability</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>71 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>243 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>110,070 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>71 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>111,878 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>As of January 1, 2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Financial liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>52,813 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>52,813 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Trade and other payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21,138 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21,138 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Due to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>14,693 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>14,693 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Due to immediate holding company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,732</FONT></P></TD></TR>

<TR style="HEIGHT: 15.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Finance lease liability</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>842 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>204 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>32 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,078 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.5pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="35%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>89,486 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>204 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>32 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>1,732 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; PADDING-TOP: 0in" width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 1.4pt; PADDING-RIGHT: 1.4pt; HEIGHT: 15.5pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>91,454 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter193"></a><DIV>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>90</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif></FONT></FONT></P>

<P style="TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt"><FONT face="times new roman"><FONT style="LINE-HEIGHT: 10pt; FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_92"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader194"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>ASIA PACIFIC WIRE &amp; CABLE CORPORATION LIMITED AND SUBSIDIARIES</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT color=black face=arial,sans-serif><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT color=black face=arial,sans-serif><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 11pt" lang=EN-US color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 35.45pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>27.&nbsp; FINANCIAL RISK MANAGEMENT OBJECTIVES (continued)</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 39.3pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(d)</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; &nbsp;</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>&nbsp;Capital management</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The primary objectives of the Company&#8217;s capital management are to safeguard the Company&#8217;s ability to continue as a going concern and maintain healthy capital ratios in order to support its business, maximize shareholders&#8217; value and to maintain an optimal capital structure to reduce the cost of capital. </FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions and the risks characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders, or issue new shares, conduct stock repurchase programs. The Company is not subject to any externally imposed capital requirements. No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2013 and 2012.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In line with industry practices, the Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.5pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 42.55pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-ALIGN: center; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="31%" colSpan=3 align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>As of January 1,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: 22.7pt; MARGIN: 1pt 0pt 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="TEXT-INDENT: 5.6pt; MARGIN: 0in 0in 0pt 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>2012</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.95pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="52%">

   <P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="1%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.95pt; PADDING-TOP: 0in" vAlign=top width="15%" align=center>

   <P style="MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>US$&#8217;000</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Interest bearing loans and borrowings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>57,845</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>52,813</FONT></P></TD></TR>

<TR style="HEIGHT: 14.8pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Trade and other payables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>41,369</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>40,630</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.8pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>21,138</FONT></P></TD></TR>

<TR style="HEIGHT: 14.05pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Less: cash and cash equivalents </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(62,509)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(72,816)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.05pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(76,672)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Net debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>20,649</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>25,659</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>(2,721)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Total Equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>228,127</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>237,160</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>217,730</FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Capital and net debt</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>248,776</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>262,819</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>215,009</FONT></B></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" face=arial,sans-serif>Gearing ratio</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>8.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=bottom width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>9.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="1%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.9pt; PADDING-TOP: 0in" vAlign=top width="15%" align=right>

   <P style="TEXT-JUSTIFY: inter-ideograph; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-SG face=arial,sans-serif>-1.3%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 39.3pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(e)</FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Collateral&nbsp;</FONT></B></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 39.3pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The credit lines of the Company were collateralized by:</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -62.4pt; MARGIN: 0in 3.35pt 0pt 62.4pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(i)</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Mortgage of the Company&#8217;s land, buildings, machinery and equipment with a total carrying amount of $14,416 at December 31, 2013 (2012: $16,383);</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -62.4pt; MARGIN: 0in 3.35pt 0pt 62.4pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(ii)</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pledge of trade and other&nbsp;receivable<FONT style="FONT-SIZE: 9pt" face=Arial>s</FONT> of $10,340 at December 31, 2013 (2012: $11,217) ;</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -62.4pt; MARGIN: 0in 3.35pt 0pt 62.4pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(iii)</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pledge of not fewer than 161.5 million shares of Charoong Thai as of&nbsp; December 31, 2012, compared to none as of&nbsp; Dec. 31, 2013; and</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -62.4pt; MARGIN: 0in 3.35pt 0pt 62.4pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(iv)</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Corporate guarantee issued by the Company and a subsidiary of the Company.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; TEXT-INDENT: -62.4pt; MARGIN: 0in 3.35pt 0pt 62.4pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>(v)</FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>A trading facility was secured by all the assets and uncalled capital with total carrying amount of $10,118 (2012: $10,780) of a subsidiary as of December 31, 2013 $ Nil (2012: $35,425).</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 39.3pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The weighted average interest rates on bank loans and overdrafts as of December 31, 201<FONT style="FONT-SIZE: 9pt" face=Arial>3</FONT>, 2012 and&nbsp;<FONT style="FONT-SIZE: 9pt" face=Arial>January 1, 2012</FONT>&nbsp;were 3.<FONT style="FONT-SIZE: 9pt" face=Arial>68</FONT>%, 3.4% and 3.7% per annum, respectively.</FONT></P>

<P style="TEXT-JUSTIFY: inter-ideograph; TEXT-ALIGN: justify; MARGIN: 0in 3.35pt 0pt 39.3pt"><FONT style="LINE-HEIGHT: 12pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -50.2pt; MARGIN: 0in 0in 0in 50.2pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>28.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>APPROVAL OF THE FINANCIAL STATEMENTS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 24.1pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>The financial statements were approved and authorized for issue by the board of directors on April 30, 2014.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.5in; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><B><FONT style="LINE-HEIGHT: 11pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-INDENT: -25pt; MARGIN: 0in 0in 0pt 25pt" align=center><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif>F-</FONT><FONT style="DISPLAY: none"><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT><FONT style="LAYOUT-GRID-MODE: char; FONT-SIZE: 10pt" lang=ZH-TW face=Calibri,sans-serif>91</FONT></P>

<P style="MARGIN: 0in 0in 0pt 10.7pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P></DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>2
<FILENAME>exhibit12_1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>

<HTML>
<HEAD>
   <TITLE>exhibit12_1.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

&nbsp; <A name="page_1"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Exhibit 12.1</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Certification of Chief Executive Officer</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">I, Yuan Chun Tang, certify that:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this annual</FONT><I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT></I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">report on Form</FONT><I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT></I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">20-F of Asia Pacific Wire &amp; Cable Corporation Limited;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this </FONT><B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp;</FONT></B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">report;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a&#8209;15(e) and 15d&#8209;15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide <FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></FONT></P>

<a name="_bclFooter1"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_2"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evaluated the effectiveness of the company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed in this report any change in the company&#8217;s internal control over financial reporting that occurred during the period covered by this annual report that has materially affected, or is reasonably likely to materially affect, the company&#8217;s internal control over financial reporting; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&#8217;s auditors and the audit committee of the company&#8217;s board of directors (or persons performing the equivalent functions):</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&#8217;s ability to record, process, summarize and report financial information; and</FONT></P>

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the company&#8217;s internal control over financial reporting.</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt">&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Date: &nbsp;April </FONT><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">30</FONT><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">, 2014</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 218.699pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="100%">

   <P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">/s/ Yuan Chun Tang</FONT></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Yuan Chun Tang</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Chief Executive Officer</FONT></P>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>





<P>&nbsp;</P>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>3
<FILENAME>exhibit12_2.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>

<HTML>
<HEAD>
   <TITLE>exhibit12_2.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

&nbsp; <A name="page_1"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Exhibit 12.2</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Certification of Chief Financial Officer</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">I, Ivan Hsia, certify that:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this annual</FONT><I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT></I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">report on Form</FONT><I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT></I><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">20-F of Asia Pacific Wire &amp; Cable Corporation Limited;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this </FONT><B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">&nbsp;</FONT></B><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">report;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a&#8209;15(e) and 15d&#8209;15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide <FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></FONT></P>

<a name="_bclFooter1"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_2"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evaluated the effectiveness of the company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed in this report any change in the company&#8217;s internal control over financial reporting that occurred during the period covered by this annual report that has materially affected, or is reasonably likely to materially affect, the company&#8217;s internal control over financial reporting; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 36pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&#8217;s auditors and the audit committee of the company&#8217;s board of directors (or persons performing the equivalent functions):</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&#8217;s ability to record, process, summarize and report financial information; and</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 200%; LAYOUT-GRID-MODE: line; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the company&#8217;s internal control over financial reporting.</FONT></P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; PAGE-BREAK-AFTER: avoid; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0pt 72pt">&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Date: &nbsp;April 30, 2014</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 214.199pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="100%">

   <P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">/s/ Ivan Hsia</FONT></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Ivan Hsia</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Chief Financial Officer</FONT></P>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>





<P>&nbsp;</P>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>4
<FILENAME>exhibit13_1.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>

<HTML>
<HEAD>
   <TITLE>exhibit13_1.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

&nbsp; <A name="page_1"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Exhibit&nbsp;13.1</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Certification Pursuant to 18 U.S.C. Section 1350 as Adopted</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">In connection with the Annual Report of Asia Pacific Wire &amp; Cable Corporation Limited (the &#8220;Company&#8221;) on Form 20-F for the period ended December 31, 2013 as filed with the Securities and Exchange Commission (the &#8220;Report&#8221;), I, Yuan Chun Tang, Chief Executive Officer</FONT><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT></B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">of the Company, hereby certify as of the date hereof, solely for purposes of Title 18, Chapter 63, Section 1350 of the United States Code, that to the best of my knowledge:</FONT></P>

<P style="TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.</FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and&nbsp; </FONT></P>

<P style="TEXT-INDENT: -18pt; MARGIN: 12pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2.</FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company at the dates and for the periods indicated.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">This Certification has not been, and shall not be deemed, &#8220;filed&#8221; with the Securities and Exchange Commission.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Date: April 30, 2014</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">/s/ Yuan Chun Tang</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" 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; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Yuan Chun Tang</FONT></P>

   <P style="MARGIN: 0cm 0cm 0pt 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Chief Executive Officer</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P></DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>5
<FILENAME>exhibit13_2.htm
<DESCRIPTION>EXHIBIT 13.2
<TEXT>

<HTML>
<HEAD>
   <TITLE>exhibit13_2.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

&nbsp; <A name="page_1"></A>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Exhibit 13.2</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Certification Pursuant to 18 U.S.C. Section 1350 as Adopted</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">In connection with the Annual Report of Asia Pacific Wire &amp; Cable Corporation Limited (the &#8220;Company&#8221;) on Form 20-F for the period ended December 31, 2013 as filed with the Securities and Exchange Commission (the &#8220;Report&#8221;), I, Ivan Hsia, Chief Financial Officer</FONT><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman"> </FONT></B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">of the Company, hereby certify as of the date hereof, solely for purposes of Title 18, Chapter 63, Section 1350 of the United States Code, that to the best of my knowledge:</FONT></P>

<P style="TEXT-INDENT: -18pt; MARGIN: 0cm 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">1.</FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and</FONT></P>

<P style="TEXT-INDENT: -18pt; MARGIN: 12pt 0cm 0pt 18pt"><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">2.</FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 200%; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company at the dates and for the periods indicated.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">This Certification has not been, and shall not be deemed, &#8220;filed&#8221; with the Securities and Exchange Commission.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Date: April 30, 2014</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">/s/ Ivan Hsia</FONT></P></TD></TR>

<TR style="HEIGHT: 3.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" 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: 3.5pt; PADDING-TOP: 0cm" vAlign=top width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Ivan Hsia</FONT></P>

   <P style="MARGIN: 0cm 0cm 0pt 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10.5pt" lang=EN-US face="Times New Roman">Chief Financial Officer</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 200%; FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

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

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>fp22a.gif
<TEXT>
begin 644 fp22a.gif
M1TE&.#EAB0+G`?<```8"!@<)+QXI#Q4I,RX*"BP1+34I&C`J,0</3@<1:Q`H
M4`PN;BD53"D<9"TP3BTQ;#!%-A-!6A-%<C5'4C!+<#=K<TX1"$<7*E$I$$\O
M+VH3!FL9*F\O#FLT+44:3$LR3$HU;&@S2W,X859#%E%(-59B-7=&&'%*+W)E
M-5%+4D]1;E1G5%1I<F]23VI6:W-I4G!M<`@=A`8QC0`XI"TXBA-'CQ%2K!=F
MD19DL2Y1D2M9J3-GD2AEK"UIL"!PKBUPM#AGIS-MLC]TJCISM0A9Q11JSQMV
MZ#!SRR-ZYDD^AV`]B4Y6BTM9I5!LD4=IJ$1ILD=TID5ZN%9IIU5LLUATJ%AX
MMW!3E'I=HG)JDW-KJ$5\PF-\PEJ#<FZ"77**<7*F>SN$N3:%TS2-[#RE\%"'
ME$>'J$R!NT>0HDV4M%:$J%6%O5N8I%.4N5^FD7.*DV^-L6FFF6^KM$F%R$>&
MUDR5Q4F5V%J*PU2)UU:6R5F5UTR5ZE*ETU.J]&R5R6F:YWBAS7"N\7?%NEW'
M_F_(TG3,^W?A_X09`XHU"H4T+8H]19!+%(M1+99B&I1F-:M4%*=6*KAG'*QK
M,XE438M8;H]M3H]Q;*MS3:EW:\19"=!L&,MQ+.!]'<9[2,=W8XMZFHEOJ:=Y
MA[B&.Y6&6).+<8RL=+"(4[*.;Z.@3;2I=9O$>:+,>-*'..J`'^J-,\N,4LR4
M;-"B5\ZJ=.>74..8:.VH5>JR;M#+=OC&=9")F):)KI.OE)"FLZZ1C*62N;*I
MD;.PKI:.Q82=YI"OU(^SZJF1R:ZRTJNWZY+`G8O(K[W$E[W!NY')T)'+^8KG
MW9'G_ZK#V['-_K/DT['H_,:8C,B=H\VNC\VRKN>UCN6YK,BYULV[Z>&_PM/*
MD\_(LM_AGMWGL_+,D>W/K_CND_;LK]+2T]#1]-+GUL?DY\OB_L3ZZ\?W_M;B
M[=GF_=CZZ=KU_N;4TN39\_+MTNGHZ.CF^.SQZN?U_?'JYO+J^_KXZ?[^_@``
M`````````````````````"'Y!`$``/\`+`````")`N<!``BL`/,)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW,FSI\^?0(,*'4JTJ-&C2),J7<JTJ=.G4*-*G4JUJM6K
M6+-JW<JUJ]>O8,.*'4NVK-FS:-.J7<NVK=NW<./*G4NWKMV[>//JW<NWK]^_
M@`,+'DRXL.'#B!,K7LRXL>/'D"-+GDRYLN7+F*XS:][,N;/GSZ!#BQY-NK3I
MTZA3JU[-NK7KU[!CRYY-N[;MV[ASZ][-N[?OW\"#"Q].O+CQX\B3*U_.O+GS
MYU6CJ)E.O;KUZ]BS:]_.O;OW[^##BQ]/OKSY\]SM0&\=)<H\=O#CRY]/O[[]
M^_CSZ]_/O[___P`&*."`!.K'0Q_KI>9>/?7,T^"##D8(X8025DCAA19FB.&&
M&G;(X8<>A@CBB"*62.*))J:((H?Y0(/_8(*EJ5%.@^R\9V.-.-ZH8XX\[NAC
MCT#^*&201`YI9)%('JEDDDPNZ6234#XY9#WLY&.,,#".5L\?,];HSCQ?A@GF
MF&*62>:99J:)YIIJMLGFFV[&">><<M9)YYUVYHGGGGJ*R0Z5-]8CS#-9AM8'
M-%12"=][B\;'*(Z-1@KII(]6ZNBEDEJ:*::4<JIIIYN&"NJHGY;JZ:FBFIHJ
MJJ2RJFJKC;J#HZP._D%HH9^]`<VKO+KJZZK`PBILK\$2.^ROQQ:+K+',+HOI
M/-`(,P^NG45;#JWR-;NJ.PPZJRP[W-+(8#WYC/MHLI2&JVVXY2J*;J7A9JNN
MM^_2^ZJYV=);_V4?Y5#+F3##N#O@N++6YTXX'P`BL,'D-KPP?O)4TH0T[,1#
MR0$Y/--"'P7;%R]\X\87;C4J#-,Q?PY>/$`3B'H\;KDG.^J+"LP(#`\E4$CS
M,,,.%^CRSO/54P[..OOL3A_D^+N9,-(66(\I!-"!WRT`%`%T?/&<`,#6.[2L
MGSOD'()`S98@(`PTW!"0`\4>QU(`(>\][0`@!7/CP#"F`)`'@.Y$HL`POF2P
M-L-0`Q``&U[+1T\I`0#R*-@F++"K?O5THS4`%##C,WWN6),!'AV'/!\YD4]>
MX#R'*JT9P.<&&$\+`$CN,S@$%#%/-Q@L4+-_[M##00U?\C<.`6)0&?_/(@#@
ML6@D"#C3>G_#%Y&//(WH_G#6C;-CN0XQPU<*`@'+]XX)-4!#>2P`\`#-.J4D
MP/;F\+E3#0%RH`,?]=;+5\_X-;Q/8#U(4UUFF'8U_E2#`J,H`!\*N!_:64U^
M!+A#]_(S#@S8P'[\B8<&9"`KT@&@?/5PQR%JH(X!Q<,",W!'-RPPN/FXHVR[
M^]A\V(<`Q\F'=!*`Q@3E8PX+Z*!!L@)4?W8XG_G1`8/E4(0"-#<Z\IG/9ZB#
MA@`Q`S`"H<-B.3`'!VQ0,-P9#@_H``<`^'"[R]7P46&L70A]08`AD(,26PM`
M'CH(1P"`3QZ_^P4&M@:`(W2#`$=PQSKR9KC_/LBG;P%PGB\<T((EJI``>GA:
MX^IQB`5H;6V\V",`6B@?JNT``^5[WCM^]\3XD&,4!-A:&&3%.!:D<FS[.T$.
MYU$-34J`B?%S1>-:1X[+!0`*YA,'`"I`@`#\@7DP>"4@/#8_.910BWS4W?&V
MY@`,Y'!SJ$O:%"W#-$9A$#X8#"<XQZF]#$B0>3HDQR)(&(XJH(,;8XQ')>Y`
M+D4DH(3Q29OTYL&X/XRB"NK(AR8"P`QY4&*)]8B%#M:Q3FG$8XL,PIT<ZL$X
M0.2C&A.3CQC)2(D'^*(`=6`'+`@JMX`IHH_<BL4!%(8/#,@`GQC\(P"`H(YZ
MD$,8\;$?[G@@C7/Q_V)B^:`%``@ACU)LTJ$<<!\Y%)%#;A1`#_F@QR)D%S](
M!(`0+CS$$B]*@#"P8QQV9$:YX-B_>)@`H>2$CQ$Q6(](+$!G;1U;/O)6OHZ)
MDQUWS2M>V=&'6VV3,E5D1SGP6@YT#%:P\#FL8N.SR)J)L7CE:(0"_H"H>:0M
MDMK#A1LXD,AQTDX";H!!!J+04W)H]@2-6V$/V*K.LKH4/BL,0SQ`^4W$H@,=
MOK,!/4X0!"WVP!V.F$$)30$^$;J/'>LX:!,TRX'F[94=\]O!"6I(#Q/(H)30
MM0!/;5LCT[H!CL7[WC#`1`N"DJY_S'.#>J>[S,&Z0Q$$Q:O]T!$.XM7CBO\G
M2``TA!E(<,%05M4HP#(-2UCX6(-^2%2$[MC10QM0::G7'.QB$4OAQ=KOL`#4
MYE\GP[2]SA><MY6OB$-LV$9@C@4O```'V4&.%AQ@`GM+&QE'X0`5L``#G1WL
M.PF@`!:PX&SUX$4*)L`"$@``$`<V`XG+T=#9KK@;!IA#."P88@]7-0'+R$`D
M&Y&`:%A`#&`RQ=_>ZS[(!<#&/M958K5XSVZ,0`&XR,`/+GQ;W-G@B1C\Q9!9
MH+5(?F^9[*":('KYUD6<F04V5O->5Y&]Q+*C%F-\3SL6,3:P'H%*+XPO.SZJ
M!V]ZN)DA9N@2V>'`^Y[7?"1.]8CGBT01IV[#'![_QCAU?%CN7OBYRF`A+K#P
MW?AV\`1+W.B4U];6SF*0=D;(ARFMBZCR`J(;&0`#:YM,6W1TXP*RI;)\Z,P.
M])$A8?6H!@)T,53XF&*EQJ68.4X@N0=1:;[#(X*RNP&[43]7U)K#(/42P`QW
MB%$/[!"O.]!1BZN^@]W2H#1<N^5A>/;7?OX&0/'8,>GK@C4,\[`?)<8&+K<!
MVM'VFU\8,+@.!6NNO@YF,?DT%\):ZWBO+W]YE?FJ85A#IL,Z3K5A0RQAG@=\
M;+)R1SQJ1PX8U.Q[S(`G(,AA077@3M.%U6?&\4H.#LC`H3CF0]:LAPHF,+2L
M%JB!3@DP!W<T`I;66`*J_^?;PP`\@&+CL(`!CLL.XIK,GFPS10%6^;0G<!N^
MA*C'N@TG!YB'7&V(BE@34#`V?""O>*(X*A[?.KZF$D`'->4%%J3Q<H8VCEN^
M`($T+*"[?*`"P?R=NB4^*`W?Z:[%9BCL?`,\QVY)MF8E;UX]5I_#<*1@#O*5
M/6*%3WQN]]7FDJGBS@O+?/GN_+:W+:P6KTY8$8Z-$JF4(SO@V>G3`T`!(X@O
M],58!,+:SQ=[#,`*``#P7FX-`7Y8!P<D]PT+R&#L@7QC'-5`L>:SPQ$`L%KV
M8P(`8`139PJ-XSL(0#'V4SB;E&_SI7];DP/"D#<7!'WV\PN7`P`[,`Q>I'X2
M1_\/E!``*;`U_,9B\Z<Y;+0U$C`,T"=[;Y1*WV<'UI8!^P<-850U>)5IZQ<[
MFO-'=V9^\\-'[+="'P0-T(0Y)*`[8D0$0N-\LA=]4OA\!!9`R'=S.`5]JU98
M@K5\4$AG7,B%76AX4MASRV=8.>=AY=!\2+1SSC>%S,=SQ3>%+\AJ78B!LA>%
M4BA8<7AAPL>'!"9\9TB&/G>';]B&8>B&7+B'2"2(6G@M(\@,8HB(2X:&CZB(
M/H>)B9B((L:&?"5%5_@8`&.):TB*5!A]?:B'>5B'JXB!KAB%S->'>$B%LMB*
MLLB*='B&9YB*SZ>'N.B*N'B+IZB+K[B+LZB+JCB,M<@6#B.(5<N7C+Y(C,!8
MC,08AZ6XBH-EA?^AV!@X1XMEB(:\:(W&B(W/:(KD^(UK&([H.([@R([J"(>]
M^(SB*(_(B([6>(V[B(_?:(SNV(]Q:`H,((GU*(ZQ6(;I>(WX2)#QN(Z%=7S;
MR(TN6`Z<9XZGJ)`$.9$6&8\6.8^&A9'^R(\,Z8\968L@.9(3*8T*^9$C^9'&
M.'`K.8\2&8T:N7P>N88UN8LT]Y#<*`RDR'D3B8,Q60Y`.9$^:9/,AY$_V9&%
ME90QB0Y#N91-&90T&9-(>916:5A/Z91*J95-F95>J91"N95`F954*95=B89?
M&95,695K:95%*99;J9:%E99,:95">95DN953^983^6HZJ1BC&)4]68K_!IF0
M7!F5!)F.Y7B/",EYL@<-9FF4<[ES0,F53FF8U^B8(EF.!DF+DXF0B$F9K'B/
M&$F:!6F:I!B:<0B409F88#F5E@B6B5F:E^F8IQF'VOB7B,$TL8B#O@F.G`>9
MOQF<6@F98/F;OEF6Q/F;88F#Q&F4.(B&Q.F8FAF69GF2R'F8,9F=W%F<E\F=
MS2F=UNF8V<E\D%F4SQF>S*F>2DF>7.F>Y0F610F>2LF:Y5F6Y<F<XMF=Z."0
MNKF;$2D-9XB<V)B0JVF4QFB<QBF.E6F=Q6F>D3F797F9#RJA^5B4!9J:%+FA
M$EJ=U,F@6DFAD&F4`LJ@$EF.PHF@$BJ8JRFB_Q8ZC\E9FQ?ZHK'HD00ZC@U9
M<_]9&+R9HC':E4(9G-(@G,M9G]NYG5CYG4H:GM;YE&-9G,\IG)1IE>=YE]DI
M6-`0G,TID>=)H%4ZI%NZH%WZG6%:6.ZPAD_*I2XII5)JI4A*I4B:HF":G-"9
MI$*9G"-*EFQZI&.YG%MJIW[ZFWZYHSP:D5R)IW=YF5(YHF1:I8[:H0B:G#^9
MJ`IZET#*J%6*E0JJH+4IH2/Z`CD@D.Q00K=%GJ7(J2D*I`]JJA/ZFQL'"+=5
MJ>5`#ADP!Y/:EL@IJ7?YH8HJHF3:J;Z*J%_JIACYI"/ZH94:HW2*!SI*J(+!
M-#YJI=[YJ-"PIUY*K/]N*IS16JW-J:WJ*:W">J=8"9W9&I;HX`L'<`?HT$-\
M%`!VP*:-FJ3;JJ5R6JZ5*0J-8Z5$B@Z-<%WV^J__NJW?2:_CZJ/Q&J?@^IT&
M&Z39NJ3"VI^@Z*R$,8K@Z:/1.I\/ZZ6.&JR=VIT6&Z]=NIU#:K"2FJ*C\`"2
MV$,IQ(P!T`=:6JKA";/H(*#2*86H.K,Q*PHU%*+1!YG5,$;U.:VK"IY@.J0#
M"ZY<.JW?RJTDB[0^Z:TA.Z=.2;*7F9L2&QC0"K6^6:35.K7:JJ3"6K)W>J<6
M&[!!ZJB^R;1EVZV-*J7/P&[,``WG8'\"RD9R()R[\`9O,`Q"^0S```VX\`;_
MS%`,PE`,N;"WTO`+;P`,<8L.O^"R0OD+P^";A[L+K[J&Q:"W9R.4YF!!9#NV
M3*NO9NNC]#JG9=NU:EN;74JDH!NZ]`JU6EJT*8H.>``-^'"U@T&Q:=NZO`NU
M7*JV(_NYW%JT9]NMU9JVP:NM]9JE1*JUH#NR4^NX&*`#G*>RZH`.")@'TO!&
M#I`"$/``L)HW$U!CPP!'$Y`"!J``6#!D!P`$.-A<SE`.Q>!2S$`.C1``$S`!
M!K"SN)`"*>``!Z`%1FMU/YFV7LN\QENMIGN\HONUQQNR3*NPH#NUSZNOS5NF
M#]RZW&JUN.L76=N["NS`")S!OLO`)JR\*(RVIZNV_R3<NLFKMJ++1D=0K6VG
M`B48JN5`7(0@2">`LNA3/H:58EH`#7^TLZ^*#B;0/.7P#+_##*@0`'S`8B-0
M0^6`"W1C=E2,#I06MS`\O!9,K:CKE".+NEU,P2S\P&<,P@HLO&@<P2>LE7G@
M5QW\%P!#MFC\Q2=\QFW,QG=LPG:<PGFLP6VLO'_<QKI`=D/:N0CP!J'E`'8@
M#5KC```<.X"`/F(PM:^*A!9P0=*`@'X@#8K0/-#`=.6S"/I5K?@*")")"P=P
M`#P&"!)YOX10R(,,R"FLP;1<RR2;QWM,R"U\R[S,P7.\%UG;Q;U\S,9<RWRL
MRR1LR\><RRPLKKX``%K`N?_VIPY+S&[+D%3"L`O=/+EY(P9W>5"PK++5R@L'
MX`=(/#9+#$K0,'_'J[/J#&QO(`S`ILH)-S8GS,9_7,C0O,_&_,^!S,S.[,QK
MF`?-.LQZ(0RP3-!][-#13-"T+-#^S,P"?;R_T$8T3+>0^0+@D\3Q&YW08,F8
M7$.:/`-#B@M/A0Y)-:3GQ0S3Y0R0^:I_1`2<I[,-36DA#=$/W<R\S-/*S-,7
MS=-WD-`*C1?%#-1*O=1,W=0\/;\U$+=>=G7EP$8ZP`S=```V,*0M$*J6?*=G
MI\KF7`ZC<`!Z@`Y&Q0?EH#51C3[E-PIV]&P$<'73;-+2P`$SX-1ZO==\[="?
MRZQ&1^W!D]O7A%W8ADT)N@.9FF0X0W"\![8UZ@,-O"!QQTO.T/`,FYS2<U.M
M=;0#71VW*PA:#O#)>F1'++#9?S3#AKW:K,W4_O\9V`M-6:T]V[2MRS3F!VLL
MH&U,LP^LJ2%,QK_=M4,ZQEFJP1@+#0BHRK6]W,R-T+#-%\\@V\P]W:W]"QD`
M!%Q,W7M]`E&MW=Y-V,/`+\^]%_BPM]]]WGN-"T.,WDS]#%B@W.P=WSS=!\5P
MN^.M%WTPV-F]W\?+W]7JW]``X`+>WP3^WP4>X`<^X`:^X`C.X(.<W0W.Q1+N
MX,9PX!7>X`]>X!<.X1G.X`KNWPJ.X2$.X@E>X@X>XGT@#/9]WWA!#OE=K14^
MN3$.#3->X]`@XS=.XSENXSC>XSKNXSS^XT(>Y$2^XT:.XQ".XS9>X4P.XTYN
M#,Q0X7'KXP%^X9-[Y3G_3N-1ON!,GN1&WN1@KN-AON1B7N9C;N9H?N9`?N1#
M_N5BON4W+LPL/A?R0`[K;>(BCN<CKN=\[N%]GN=<GN4(3N((#N4Y#N$7CN&#
MK>.#O.AQ.^-</.,//.%Q6^F#'N$8ON"6ONF7SNF>CNE[[N<$;ND//`QOH`SR
M,.=Z00[6,`1W+M^P'NNR/NNKW0-J0`[EL.*J?A?F0`Z_T`-#$.S"/NS$7NS&
M?NS(GNS*ONS,WNS.KNQ1\.S2/NW47NW6;NU1\`OD$`^[SA?D0`[=\`OB/N[D
M7N[F?N[HGN[JON[LWN[N_N[JWNIJ`._T7N_V?N_X?N_=0`[O0"[=OA?W4.??
MFS[P!%_P!G_P")_P"K_P#-_P#O_P"S\$:O`.$%_Q%G_Q&)_Q%R\/J?[O@7&[
M()\/(3_R(E_R)'_R)I_R*+_R*M_R+/_R+6\/*2_S,$_S*1\$"`+S.N_R,Q_S
M/4_R-A_R05_R0W^[19\/1[_S+&_S'M_T`W$@3A_U@-$#+R+U5J\74'_U6G\7
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MS_[R'__T#__V__[X/__WK__Y7_\`(4Q@,8'""`XL>-!@0H8('2Y\6&Q(GWP5
M+5[$F%'C1HX=/7X$&5+D2)(E39Y$F5+E2I8M4?:`^6/(D!XR:=JL.3/G39TX
M??8$RE/H3J(_AQHM&C3I4:5(G3:%RE3HS)D_GDI=FO6JUJA<L6Y%.L2,L#\"
MRY8EFS8MVK-FU;9=ZY;M6[IS[<K%&U<O_UR^=?/VO;O7K^#`@/\.-ARWSSR7
MC1T_ANPR2#UVE==59G?9,F;-F3E_WAS:L^C.I4&/1FV:]&G5J5F_7AW;M>S.
MY88(FS>Z]6[8LWWSIMT;^&_8/'CT,(X<^7'FS)<K3]X<NO/HSZ7WF$E=^W3N
MTKU;!U]=_/;OX[N')X_^O/GRZ:O/7!=9_GSZ]2L&L9]?__Z,\G@(XR]`Q^K)
MB,"-#-0(P0(Y4C`(.PYD,$(()TQ0P@HI7!!#C!3<T,**A`DB/@%')%$__$I$
M,<62YND!0!5?A!$D!V.D4;]B>&"G1AUWU.A$'G\4D$47@212P!F+1/*D8GX0
M,4DGC7PR2L>$E`NR2L>.M#)+BX3!4?]++Z_\,DR0J!2SS(^P--/))9M,L\TS
MW71SGB"&A----.O\\<8<\>3S(A_[]'*>_P!-\TY"8Q1F"#8/M9-1+>6DT]$L
M#94413TK;133*,G4M$I*.PUP35#+_'-4(#DU-<E/4[6/RSU9G1364UN4%<E5
M:XU,5%RE+'77%R'U]<=;@W7I4F)5/19&02--5L5AFTTIT46AU;%7:OD#]EIG
M']2V,6.[K=%:<.M#==P`GS47)%W3?5%<=B$K]UW[T)5W(U?K3=%=?%N*=]_(
MZ/77HG4#YD]?@E'*]N!_N578HV\;GA=BEY:5^#&`"9:VXH@U5BEACE>Z.."'
M/[:89(1I-5D1I9#]'3AER5Q>$66835IYWWO_9WX9YY#ZU=FCFO%MN>>3#!8Z
M'X^+]IGAE$=&FB2BA::XZ3.5-CECJ6D6VI4#`,FGFBPX/%KG<4[(P1U\)&$F
MHY^;C<0!9O`QA=E\F+XZ%@)^R$><!]11N^)P.E"C'G`L`"`*>BP!8(%D/A!%
MAGA.X!HCGB4>AX/$W:$%```H@,&+"PAII08.\UF;47`PT)R0P0,(O*+,`_CC
M=`!J$(<!48#@1@5H-`J:XW%03T"=6C0'@T!\#@$@`#=<&.6!=@SAHT>)PS$!
M@#+BL:`(<0A8H8!E%DDA`5L2*&4.C2:O>!P"^)#EB(HL<2,$71C@6VVJ=P6G
MAHJP%R(6!W97'R%<__$`:>3C%@A0A?@>\(+(9>1F*7/$#/*A@1TLP@RQ4``Z
M+!*/1K``!J.@`"-LL)&GO0L?E'C".#X7#PT$H&RN4$#U)D"`Y*7M(NB3F#@*
MX(Q6:`X(U;#```@`@=EQJ'2'`@<-$:`,#!`B'!C80]X(0(A8'&`7EL,!/@P!
M``C0<`'ER$CO-*:)!9B#`S7@!@8<0)&*R`(`"A"&W2`0``,`P'P8*2&[XB$)
M,P00>P&@@#LBL8!ZQ",#7E#!*-X@N3G!+!P9B&)%P%&`M,EB!QT(1`@*Z*?[
M!8L#$N@`(";YAXJX0G,***#ZHC>.#K!@%"I81AB[Y+(]UE$(E&@")2B@0?^+
ME&)O>R1%`VQ!`R-*#!_5Z``%GJ$(&:#B`%[(@!LR8`=\."(,X+@`"]A8#C"R
M8U!@)%DX++"#7T`C'+_0)31N\8!T'*("(*C?GH)`D7(PQE?Q^(4O+,`&15!`
ME]+HQCG>80U*4,$<OT!%`0@1CP[\P10?H,#N+%*.>CRC!_'AILG..8H/?,^?
M"U!&+NC!BU&0H`F'&\(X"E""7N717/&@Q`I2\(=PM"`%PH!;"IJ@CG%8H9"X
MY&44>$#1'CSC&3:8%L3"\8(4I$`-L4@!"YZ1CVD`J!8SK<@ZH@"@'KRA'CB0
M&ZO`P52*U%0%.*6$,"RA4W5<PZ:+%,?7EIH&!,G_`ZS0P-$YA#`$C58"!FGC
M1B6PL(QQ8*$=IH"!&\J!CUYH\!58D&@Y7'0B88"S:="`@AGR(80^]($'245:
M.>S`@WP,P0X@"NO!!-4'80`A'VKH@42OUA$N482OGDTMSH:PU2A$X3:SQ4@?
M;M/;*"R&9%SRK3"B,%7@>F2TI<T'#]AX-6\2-[=(JX<9=IO<E"G7#$)M+DCL
M8(<HV&&ZLYW';H/`W/!:1`V^/>_'H!$$W[ZJO1NQPVXGTMX@_/:^%NEM?$GV
MC"&X%+CO%7"]?$L5!C?8P0^>B1G("V$*5W@(0ZT5B"R\X0:;X;L<!O%,KANF
M<F`GQ!:.@AJT>^(*DQ9:P_581XQE/&,:U]C&\_"M&N9A8Q[W>,:F4NX0$#1D
MBQ"Y(D;.4#Z0O.0B6T2X]AP5@66KY"8?N<I4MC*%F)QE+&-Y&-^U;)DRL]\K
M;[G+"D)SF=7,Y7P$>'2R@H8P.CMG.M?9SG>>\Q_PO&<^SUD84W94/?Y<D=RP
M8QZ%/G1E$FUH1#<:,X]>=*0=S6A%._K0!+)#F#%%$"5C1M*5!C6E1?WH4']:
MU*8^]*4KT@=`>VD=G57RI%$MZT*/>M:EMK2A"50.X__N2LZ[JT>PA3UL8A>;
MV%0FD+&5O>QAYP,:K*V4H*&1F]S4X]#NF(>UL:WM;,]CV][N]K>M'6YR<]O<
MX#[WMMEA[7KT0=..$LBXNXUN>G_;WN7N-KOKC>][FWO=[,!V9?+1!_9^*0HY
M8C2[UYWMA5-&X0]GN+[%W7"*0]SA$6]XMB5K7U;]`=BI!GG(13YR:AN:T21'
M.<IU/;<1MXG71F-X;K!-:UR#6N8T/[6L%6UR:E-FT)6*=[5-/O.:YWSGB#:Y
MT97^:6KWG#&N#5.<=0UPGE>]Y%>W>M*1CG6N9[WDE7&X06K%:FL/'=S81OO9
MU9YV=5/F[/]V.-SE'G>Z+US_U\]F5#W^4`Y($WWA[K"[NO\>^&KW'.`,'WS9
M!>]O</][W=!89*5Z8#2W&SK@B;^YPX-=^+337=B(US;A*9-XQU=^'LQH>9'>
M`(VRIWKNEF]\W=<><:''7>VOO_VX&8T.89Q#5JZM/;4#WGCB#W_X/`]XY95O
M\N4+W?E@%_CD#[6.P,7]T:-/^N4=GWV98P;P2=]^H;6/?>]7YO*'QGNE>(#]
M[T-_YU0/=C[B48D^H(/\I`9[-53`#.MS'S/81[K+`[S<4(,O>09A(+7V>S0%
M5$#SP[\%Q#\&C$`(++]U8S59Z0$`K$!OLSQWR`?+4[3OXT"T.[KQ6[=@6[G_
M4T'H_^LY%R.4<L"#^ZLU\".U&7Q`K/.T!X2T',1!JC,TL7,4-?`Z&O2T>HB$
MY'F#$Y`##X2R^",T`JD&M[&(;#LR)_S`][M!S$"'`O22/XNYHQO"KA-#,!S#
M,CP\YON#@AN5R?NZ'A2V6D``:4@UM^,VGL.^84.W*`2$>J`'#A"#S6M#(LPV
MOB(4<NB#T9M!&T2Z'=0Z'53$]ZLU&\2_6JN'84@],SDX'81$S/B&]9&_$]"<
M&;`%S5F`9P!%`)"!>F@$4M0%PHE#1=`<"8"&1=`<&5"'2`3#G:N'<E`#?/"2
MU9-$313&823&8IQ$87@&7TP5(1O&>N@&U`D`9Z",=>`F=/\H!VJTQG)P!V[B
MNW4C!UH$`#G@1G:HA@/X`W;H0S'(AVILP!P$.T($%'*P@V`TQGJTQWNLQ$LL
MDTRTQW98!`3X`W,X`1V(!0"0QFXX`#<X@1Z(A0`(!`(`A%)P@`/0`7<X!!MH
MA!KP!0>``0=H!@W@@_L;QBVTARZ$AGM$R90TQG8K!GI@E<D81G=X!048AGJX
MA0"(`]0!`!:@(0`0(@2(`TK0G#"PME)``&;H!H44``#``64@'.OQP^$!@!Q@
MO6'$L4.11Y%4R:WDRGD0"$GAQWK,MFHH`!9(@3EH2#B@H0!(PCD8GB\(`"K"
M@`!8PHN,!!O@AH3,@-E1AWODQ9+_S!)\6+V5Y$K"C,!@U+MB`$Q3$0*M)#5R
MH(0)Z(.T_``8V(%DL(`Q6`4$6(8,,(-R^`432,5U6(0<4(=@>X=B4(0$.(8#
M&`9+D``,X(-#6(!1"(`];$9X[)-GF$<==`<4Y,K?=,P53$E+!$N4)`=<P(4,
M8`$2T(*"7($`\(("2,(C*,A!T(`<.`$%(`$%&`4"J`-%L`%?*``OF(`W*(9I
ML\<ME`<O\3AAW+Q?,(;"U,%ARX9B0`?\D\\;_(.6?,GA]+ZN`0`N*(`XR"9`
M4"GV28!H.($F.($92D5Y:(0%D(9W^`4.6``,6`!DR("(E``+V`,.4``8:(*3
M)$8HP$H\_Z#'7X`!R!+.$XR[@!-.X*P,7H"!U7M1&*T':SC$N1,V++R^KW24
ML"Q&=^B&IJ*"9\"%8>@&&'@&&&"!)A"&)0V')7"&:H@J](2!%*@"=^"%/B`'
M+.`%!U`!#+"!=A3&O]02P331""2'%A6&A?Q-&`4[S1N]'QTV.F4'7VA1+/""
M%#!-RA!.>>@%8<C/!.S/]EQ&>GPT7T@!$D``VXP#"V`!*O"%]6F%!#!%"B"!
M"""`5"3'#'``G<(`!<``UB2``P@`,O!#B8S2-M7$],)*.]#!:L@`"DB!'<"%
M%UB"9W@!%>B#7W@#=#`%0"`'3\`%&%"!*CA44S@`7.T#1UT":/_H!A>HU%^8
MRRCP!3#%@EQ`)#>0`G6PAC>0A@<TSB%-23QEP<V[4UU#P1^%N[PL4QQ`4TWD
M147-$F$8AF#LA@Z0@!=P@.X$UC?5*6BP!A5H@EVHA!1P`G1H4A5X@V/=4C\@
MAU]M@F%PAVJ`@<W!A1-X5C58!TK0*6'X!6`X5$CK3Y=<1@"MC.3,!6$@AU]H
M'EWX@#3X,W(PU'+J!ES8!8RM#&7`A5R`!G+(A5VHK%]X6="$AGC(!5SXLV)$
M44"I!WF<AT,]U)"ET'AX!@X`R@GMR!?84`N8@;Q<`01X@=MD!W,P@8J,V0]8
M@Q.H@5((@!0X@"1$`&$0SV0X@!0@@!S_($]FL`0=L%I/$U)&"<O!90?$Y<J3
M35S\`\U<$-I'0US%5=/`'$S%+04%F+;0Y,X%(-E=L``PD-LTH`0%<`,""(-!
MZD@W,``),($$:!Z`'8;*P`<+$`1Z*-T3.$JD/0$*>($<*%?$3516`0)&34#`
M<P=3H"$%.,?Z/%[DI3IW:,=Z?<`HP$HYT,+*L,;2[,MZN$CLT0.&(H,/\`(%
M\(#?I80<J(;U<0=RP`"BS-B>1`!2>(!EZ``PR$AW$$]ER(`44`!FT%\<.`$]
MJ%K,Z,9S910HT-X%;MP&SD^^R\\(;MP(EF#*=>`)-C_`D^`+YN!R,`.5S9+W
MK(QN1`=W:`09_\A/=UB$'O"%`Q`&2J@C'/"E:.B`)72$V`S?$.""`^`#6I!.
MS8F"<DU;"P`$>9"$'."&`.`#4]J<%0!>`\:,E&65(6!@Q=7!<21&QE7)R<4,
M(9C5!N[&D/U?<&@"#"@"[#F";B@`/"@%```##H"=]%4&`M"#S#@$6YP&W04$
MP"L%D,H`_$U%1=#(`O!?`#:E!W"&[#W4PCV4@WO@$89D=B!A#.Y&0877")[D
M0^U&$QS<;O3D2$8':U2#Q:P2?(B#V<7@RG"%N,2'#CB`(-C(%T"`C\0!4R`@
M#K`!<["`&L"`'E#CZ>0#6`B`%3@"[=-E/HB'%O@A`E!+/EB$!=J!D_\4WF+`
MUU$1@D)[9`DNAPINX,3EYF]>X%#VYL:%X'&N8&T&8W:P7D+A3>T5Y_PD!U`,
M`#;@`"*H!U30'."]!@#@@TB(P_2]5#ZHC&<$``08!,1!Q>9A(NM$Q6K0G+FE
M27;HQ!X8X6QF!P1NY(HVYPW&OT.-A06`!E@,``*2W(X>:`L0@]QXA:-D8`Q^
MYPWVX&JNDCZ8SXT&N".<RH5$A0#0!9V4841>W\21AH*<2C7NX1].'&:HC&.6
MAQ;0@6H(@#U`GLT!5"%^9W:0XF6$9'368DGV9DTFY["&8+[[9*^V5TB>Y')F
MAZB-1UHUZVTVO\V[/'A%P>^#WL9]T1F-7L#_>]<\90?W%>B77F1]%),H.&=)
M?F!8!`!9?`9H,-'&/DDS$H-MM,;&YKM5."5FV.9R@`9=E@-H0`<,^C.^(P?'
MEN3&UMZQ#N7*M1)\T%>OWFS$/D'IC='-*SW@5%?[6X0T_H#Z,S^9J^W/0VRR
MKHSA314A6&#BEF!R,%I8+4RK+8=G:&YV2$]2"^75YN9U;FO$MD;LANOKWF;L
M[F[L3MS-'F^RON[N1N_Q!F]TX`80*%?TCFV,)A0%-N_P?F`3R`%E*,L#,(``
M`-SDZ4X22)ZRW074D0%H<`=76-`,:((,8.A!>,H<^$[-26,:HH!?H*$:&&[R
MA@8UB`<OH>FO+N_TXK;&#L=O]19O[VY6`@@`*)#F\#9O"B[Q[PYO=N@#_]1J
M]E9O=OB%##B``]""Y'R#HX7<*04&:!#6I,T%-Q!:I'W98A@&=+`&!'S&````
M'L!G'E!R-WA:KU9QOF/KW;2#;23Q](YM\8;@$Q=O;U[SU09S$Q_G-7?@[B9Q
M1B841WYG\UX'$U"`%7``@S`%`*`##)B#>O`?9^``/L"@%7B`JD2'5>:"#XB#
M$T!+`)!P/4`%CE0`9_#G+D``+PB`'2;*EYYS-9#I*''MV57Q$U_S%,_FZW9S
M-F]OVG9G.F=Q6']SK*;_9N+5Z!0OAPFEUC_X1Q)P@#?`@`'P22+B`T48@`Q0
M@%WP`AA`71,8``-8`%&@4$4@`G>P!D@R2E'8'#<@@118(Q.GX/S433Z11Q1O
M=19_8'&^<0,^[WH/\U:OZ/MF\8LF[#")`GW'[W)0A`!H`H<:``)G`PS0@WJH
M!@58!I",A0)P=&D,9<R>@`=XA@Y@:$*P`#V(PHYDALU$@0!@`2P@3SX`^.[^
M<%*NDM5;<35'\SV_=W'^OAF7\?$>81)N[WOGNZPVE2&@[##_ZQ/@@7*-A_6)
M!PS8`1+``THH(PLX@D7`@6Z`)%Q8`0*H@47@`5]``)J=5$)@!VM(=@/(Y2D:
M__0)```;D(:4%W-"F5I:;>^;U_E\1X=JP-YR2,Y=P((I;W6Y%V>\WNSD_`,>
M!WAVP'-`,6R8WVS1E`9WD%L"UX-&`"19?G@Q<`4$8%T'``(%CX0$:(8&/=L#
MP/0@.H`<&'0'`(`C:&$*:()+K8-9EWM47],_8/64+V&XEF0C70)I0/?-+@=I
MY7O<U^#NMH82#65>V+N9WWGC-A4@X.Z;M\8)!2@O```Q4)\=:($\*`492`>H
MU_I?*,L"M0",9&&%6H0#H-"PQX`<8#55,H4"R'%H6&_V9H=UQQ-RN'OVQF]R
MR/[0!H@<TMBY*QA)1D%R&:(4@U:P(#J"[MA)9(?N5_^38>XL':F'SEV\#D.@
MH2M7\B2ZE";1#1.6[R7,F#)GTJQI\R;.G#JCG%RYLN0O82G)[<JU"QJY7+F$
M"8/V"ZFP<K]R_8'&CES48L:>&3TZ-1<SK$:AK9OZQBDTDS_5HH.F)I[.N'+G
MQOUCC-W:E"E?]7#W"TM8*\NB$J18T"(Z<B0HI'`RT*2O#`KZ?"P("X&S>NX6
M]7`X42];M>S^%*-']S3JU*IE#G'G4V5*=K\P``B`)Q(``#)V9;#3:($Y"T44
MY:[ABT!Q$SA,!0`4"P`2B]8(A%''+IV&`&Q.U*;3\WLY=E!6DR]_NAXY.WC!
MEV37C4#'50FD40*@`%"H&=W_#-0FXR)."P<`(%!]`/!@"@`(,,..*0X`<DUN
M.3R#00``1"$->Z&QPY1Y'7JHDQEYA1812HC%1A%L>E%4#HN(6421B2ZN&!M*
M(Z[$CEOR?+AC7/C\,4R&)G&#F24`\%'-`[I\0`@'`>3@!0$),%,2.2=,X*!K
MZ'!#`!"CJ)`"<D<\9Y\PDAQ!3@<`!"&-C2>1QB.<<=8DQ'IMEE1.6FVUB.>=
M+)Z@`YLEI9466]\00$B=+"I*Z*#LH32$G)&J1HX<&9[4#6VY+:!+`7\T4D,D
M-B@B@R\'-)$!&AS(@$H`5*2PRP=P6&#$/"GQXH!&BLS`CB@/[(+!$5:U64Z@
M+4EZ_VQJ4/09I*6*#@L:>"SV]"RU>+Z%K*0_U@E>.Q;,T4@`4E22`S<`#&*!
M#K]\X&D-))4#[A^4!$%2*`DXLYX[KB"@2P!OG+!#"F8<%)P>Z['W1Q1FF)$P
MPPL[W##$#TL<,<436UQQPPN7P^,0[`3:4Z`_U0A:H%7VH!?**;HB@SK$BISR
M=R6%?-)XV-I\4WH>NQPH28EA$$:^"'A!@S2ER-"(!,*1TP(9'Z1:1#@$E,$!
M``M`\YP-`]V:JPWS<%"#-!U<N#/9/7%X,]HVA8@AV6RZ[;+,/F%XDKMOMQ5W
MVW"G]?;'>=]=DAKVI+TC/L(`Z;=)BM30@ALD(-!'-^9:P/_'F+JE5,H"7CC@
M@!TI13)?2@@F2`H#SE!"`0E@4)W;$2KQ'1["4<@^.^VUVWX[[KGKOOOL0FR\
M(Q!XF422N\/?";*T(PI_/(MLNBR\6LX7'UKQ<:<4Q>#9Y_.,'<[>Z3PZW0B'
M3B@(?-$O":"*NFD!+*#*01'E-J$"('A"4RX@##K0!S2*)``-)13@!@*,A%!J
MD1;Q6.(2[6DO"LF;GK1@PR?[J04:[A(42J;EO`.^AGD45-3W$*@&'3'0/&\8
M!O1`V+/GR.`9(U#`,")W+CU88W]X,DDI$"",^LB!)+$(@!Q\`:8>1`(!I`A`
M&CJP@Q8,H1$R`-\$08B./CP#'R7_3`TT>/"[#W7L@LUSF?&(A\"[[2V,>G(>
M%'GV13*R,8Q?+$?-KHBM],3-765<VAS0\8H<`!``#V"&*8[0C0P<@`)O@,$;
M)"&&;GS@#1P8```JD($``($DOR!!U71Q@!Y4Z0`.>$,&\J@G,?;I;'*\68CT
MA$$Q%F,7P^A98CB0-79@#I;'*\92;$E&ESW#&"1Y!I!24HWF[))0T@O<*5=C
MN+:\[H;FR(`<RD&)2C)R&2W@`X,$U)G$G"``%(#!'TUB"@(HX`VX.,``:*"D
M0C*C$G>HDGT`H9($$HHT@DNF7)[A@RUZ2`@]2:"BH'@2*/JD@RH!(YOLB+=A
M"?2"D,*G_Z0H):@*'A1#>'E,96)C%1*IJ!SN*%4:3G"R&9GD,S.RSD?PXL55
M*A"BV'(@SZPG30`4,A=N<$,?RG&"!;Q!&$:3QE_XEY+9*.``0W@&+K#0E.1)
M8QTGR$%8++``82#U!0B0)UOJV)9KN90N)SP@HZRWGK$>,"6?(59A2$0L=*C#
M'69%$8I,@B^+W/!@I>EJ3IX!!'YV:`@IR=/P7%;&035OL"ZC"C3.@0MYTHA0
M=P.C&"/+(C&J$1W8PRN/T-,YP4Z4L(YE5%T).]D;EJ,2*LC(+C?8*-#F:;5@
M+(<I,0NG$)&6L-)XCQ[0L8NDOB``A%#$``Z@@!?40'P5.,`=$O][@G9UXPTO
M4``)%C",A++H')+@XWL0D`44#"`#5W6;9Q<U0MG&Q7`)M1YHSSM8/=TPO*-<
MU&@).\KW1G:UI"$A>6>B3[Z:ATZM5>5G]:;*"4JC2H!"!0$"P`=??`"U@N5L
MW9A*MO:>Y*'Y[1"E*,RG"*<6H03.V]QJ.]&W19C$&*2PL2Z\(P>66"VH*`!C
MR0$#3.IA$3;HA@/25PH`3&!`TC`'L$Q"#@SHH1L'R,-@S_$"/J)#$4089!BJ
MH8`_W*F,,K,@5U5<DZ]NF,)VG&"C-BS3\PI6O>C%V]O*EB<JFD;+,'E&#_A;
M'K^REY1EO*$:)6O@VQ*@!A,20@N@"N;_P,[7@O35&Y_BZ.;4:%9GE/5R>R/=
M6@IW]B>/EF]XUVOEM,1VT:LQ0S'M=Q$"Z,$=N-CI*`!0XW05``(UR.$?A.%+
M<W3@B=T`DQZJ40`^M$PEZPBT0Q1A`W)8((A7A8UKK75/3\=DF0`&,*+S'-CP
M4C=/(03L?"OM657VH1CX=?-^>>2[,JKWP=5^\-V6I@-H!$<,Y=(4,P)+73(#
MML6KM2RS)Q7-;>/9RVPDWKTY8E9WF,,%@,ATES4MZ4BW--^K@<*VOUP@";P@
M-ZHV07$HT4*J!2`(0*$-$`N4`UXHZ`2M.P=W`&"#4*B\0`'XE1@@33QD.OPE
M7W6M9/,T$9FS_U%0%G'7*"@0[T&9XP/W*H@Y5/!*"#^8)-UN\Z+A+&?R=%'2
MA1:S;=M;I37%PP)(>`\?W*H7G&,]YV0CE*)KKA/-GE'4%DSXPNE)K&[LVJD)
M^H,D>$#9P0(<TM+8&^`MV&FURT4-@&]O?>WX=@LF=%`67/SC[3<H=5A`#*.$
MO.0C_W<\57N\-2\<,R+[WLU+0QFT6<"4($)?=#CQMA_@@UE-@?H$'J01%D<`
ML`[M6FG<E]GAWI$_'4]?X4?<[3K-S0_J(X8=`T`"&>"CXS<<?=MZME'2N"SA
MXY)AS$-^4'^'1D(W[WB25&,!TF"$@G@!A5%8[?'CE_3WIS_]AF=_+O]1J+[X
M`;IXN.><OM7F1@R,4N.UD>)1T.)EF</UP3`8X.*)WY"UBR3L`<8!0&<PWJ"T
M7LKMP>J@'IXI@A&X`SFD`""X@]$TH`5^T-/Y7IQQ##.YG=R]W?=)G@%&1,NP
MC5F!!OC-(,Y5W_3!4?W%!?<(2M\9VOZ]7^0YGB7(0#G`STE(6;RUA6?%GZ3)
MGP$.W@_>A.$=8=,=(<`9H?Q](9[@"/=EG@QR'Y8M6[X5S@**'Q2.WR\<0&ZA
MPP\10BP@`"$@WKO8F@-03@`PPV\,76)9P!A(10KD5BS82]R-7[=]FY;]WH>,
M&P.6(1@F'A>ZG_LQX/@QGN15&V&!P17F1'KZ6*(7BN(HDL1/R=+?&8,O2%<E
M%B$IOB))I-@GY@3$(1XI9E[W92(1MB&QZ"(N7B(P6J+DT5S-*6`N9MY%'$"E
M0$,C((`TL$K]4%;K6<.NE4(`.`/F`&(Z6(`>$&(W'B(@PB(Z_,$S0!VXK>".
M^)49?B$/`F,9)B(F3J$MXB+VS>),L%WWD>$D5F()6F,3I$`5\`('"B-!5E\B
M0H,5VJ-,F`%!8F([ZJ/]%$-3D`2;%,-TV:)!!J,KNI_G.9P:.B3B/4,+.``+
M?``,`,`.9$`-",-2@$5:@$L3X((!Y(`NH"0&+,`?Y,("GH,&6)ZZW`$ZF,)\
M]&#U+:+O[?^3N/UB+BYEICV>$&HB+#*E*$K>W=2C0L8$I42E5KZB-`Q)Z'E)
M$S`#);1+06XE+)8#("S05=;$_9FE5N+B.4P3-#P##*C`(0F=6[JE_2!@OAGC
M5I;#,YB6X>'":0U#,;S!*%R5!?F""K#`&[C!$@P#839!3P$&^#G9W^'"=#6"
M#9AE.9"&.38B.G(1+^:E5I(#%4Q)2A0#8,3C69IEVJUE/H2B4NKB+4XE!L3<
MWI!#"&C!:YJF^R6D;!I>;;:B;5KB,WQ`'D0#!RP`"YP6_>CC;1JG*!)C&AI.
M68HB>+46253"#KB?^(46+J*"@KS=,V1`-YJE47J:(_;36T[G*Z+_PRCDP##4
MQR>E0!WHY52^8CF8@6S*!/<`IUM:I"4*0^@)Z%;*XG_&!,0AJ%;Z`@4`PC`!
M@C04PR^DP!PXJ%;R);.=D(:Z'X$B*#`4:%Z"I@I.W6H,07%2IU:V@!:P"A]8
M4`L`RH>^8FRNY?;5J(Y^J'"N)4/NJ"7RP@,`0@XY@P5E0PK8`9!:8D<Z''8N
M*92JI[<=)8JJAA!$*5)\@!T\@U0!"25`%9;ZYX*^1%9BJ9G"HH*.:3ZT991"
M*""42\R]@*OT$)96`2-VZ"N=J9X^'IN=*,=@:7+VD#I4`@"$024LP8%"Z8U>
M92CNJ:-"0ZRI:4RP*92JBQY``RH41RY,_X`?F*EUYMN3/JJ9=AL:-B)2`A^@
M:BE"_LH1S&>B+JE5RB8Y^*:HGNDPO$&ICJF'1JE(SDL.2D/0Y2F4,D,56)':
M"4-5U"J64I&Q1MUH>LBN0FD+!,$HH%,.",.,8NFM2BHY^*69OJJ9WNJ=+B@^
MZ!V6XH(6""LTX,(6@.N.WFJS.EP\1*M9^A*"NFM4VJM64E&^M6>'Q$,%0FFO
M".N%7FJ4]@!<J*D\%(.26E">OA(S^%+$0L/$5JS$7BPTO%*>^M(K&8/%9BS(
M?JS(8BS%]H$PQ*O"[NK#.BS%8NS(AIZ^;N7(MBS-6BS,PJP%`<$[9)\\[.K$
M0BS'@JS'6M#/AO]LT&HLS4*#RV(LTA[HS(:>R28L>SYKA\A#+AP<SCJMTE(L
MRW*MU[YJ,?1!HAZFL&8MT9XMR*;MREH0(.3"N.*HMUHBOKK?W#Y>W7[H@?;!
M+NRLI,;$.P3L*X+KW(;>JX9>GN(LW09N5.;M+KRMIX6M::JK6Q*N*-:MY(KB
M,*PG>Y[JA]`#.130V?J2O2*N!8GNUHJNNX)KQW*MZ9JN60X!.83F?\I#MQZN
MQ]XNR"(MTAYM[@IM[^INRT:L\-[N\!:OO=I!%)"#X\ZN,-C!P?VN[^XN]*ZN
M]-9L[_*N]`*OL.;!+I###RZL'217\!*OT1+MT&KO^)XN]&)OVDYOQO;_P2\L
M+WE)'9Q@!?^4+M>:;=/FK]<.K>]V;?^>+>4:;_%:$/=Z;]_F@SS\0A_(`:TJ
MJX,V\"X4`]\F,$R0PR^\0;I"\(<V<"XH[P_2PP+GPAS<+P<#IQS8P2^`<+]R
M[H?0;BX<P?.>,'`"0A!T;ZZ.J3E@\"]$P1%H`1`'L1`/\1%$P1`?L1PX\!$O
M,1,?\1'DP@I+K06_A`AC\!O\,!,7,1!K\1)SL1![,1$;<1>+,1%#,0M?X0X7
M11@T\1:3,1MK@1R8@1:`\1>[<1T?\1#\0C$@L,/1+YQXKC6\P1`,\A#(#B$?
M,B(GLB(O,B,W,B&_@36<L073+@__@B5?,B9G^+(F:_(N#,$;;#(HAW(FDX,D
M3_%+S`,EB[(JKS(KM_(O*`,YK(/\RBLINS(K"_(NV/(J=P,Y2'$+5VEY['`W
M6+(U#($:Z#(R([,U\/(LCZD\/#,I1[,T3S,U4_,[?*XP7',U;S,WF\,SRZXI
MQ\0SQP,WE[,YGS,ZD[(WZPC*?F(]C',ZFW,\",-1:7,\;[,L-_.%^;&<0#,I
M>_(]![1`1_,SA[.DK$,/J*5!+S1#HX8P!,$Z-#2`NG"DR`,^!$$?X,,S;S1'
M=[1'?S1(AS1(2[2<S$-"DS1*IS1-%$,/1'1*\S.R]$`?J/1:LD,0*#1-YS1#
ML[1+H[2__TJ*3.NT/<X##^"T4!]U`@O##["#2L/TL00U4O_@/-QT5%=UW_)T
M4U,T4,^T51,>41MU5X?U)Q;#4C<UU6ZU6-?<5(-U6K=US0D##_0T2?]TI$"U
M6R_:5]^U7JL=63/U2Y]U77/U7JO86@^V82]:,<1U5@/SCMCU8<N62;/U8T]V
M,M&S7_LT8,N)8U.V2T4V9W\V1"6V7$LT76NV8(,V/GDV:J\V`_6U63/VAVPV
M:Y=08<^V;=^,,+3T8M^,;-_VX.2U;P=WI+CV7\.VA_2V<-M,;2<W<WN(:.^V
MS2!W<TN*:D^W=:N&9;\V;Y_V=1]+=7<W>,?%<[^T5@=V>"/+=S:?MWJO=%D7
M]W:O=Z0L-WS/]TO`]6@W=&G'B733]VH`-W_/-W%CMG%WR'[_-VK(MX&?]WC[
M='G_FW:">TAZ/WAW9[=[1S=W2WAJ1#B&3_>"SW6#Z_>%;SA=:+B()W>`SW5F
M@WB)JP:"KWARY_9],W1^PTF!NWA-^+>-FWA["_A[Y_A<M+B/VW:'D_:'TWB(
M!_F-GS22!S>%\[B%+[E.D#B4?_:0XW>1\TB-0[F43SEEGSAII[B1<_E-`+F8
M4[9]0S>V9/F2XWB94_F.H_B`FX>:(SF9M_EA5[F,7WEC'WF9;[F=[W63PWF/
M_SE,L,,02#:AZ_4S\,!E>WB<EP=RL\,\L,,Z3#H[R`-%8/JE9SJG;[JG:SJH
M=WJH?[JHESJI>_H\_$$/K#JKM[JKOSJLQ[JLSSJMQWH0_]PZKN>ZKN\ZKQ=R
M%`P!KP>[L`][L->ZL1\[LB<[K`>!LC<[K1>U',V#M$\[M5>[M5\[MF>[MF\[
MMW=[/=`S--!#MX\[N7L[`SDU6M\C#_0!N[\!N[\[O,>[O,\[O=>[O=\[O*M!
M%/3!'_2[O_\[P`>\P`\\P1>\P?^[R?*.PM=.(?OZPC]\[JC!P4\\Q5>\Q0O\
MH5^\QA-\'PQ!,<@1#OP`$/@`#X@\R9M\R8]\RI^\RJ.\R[<\S+.\S*\\S;_\
MS*/\(-\\S//`$`@!L-=\S`.]S@^]T!>]R*O!N>MY;(=X/;Q!]N5V]@6!&C`%
MU5>]U5\]UF>]UF\]UU\]G^>;A46EC4D_@QP=>M>?/=JGO=I;O1J8_=J_/=RG
M_1!\_;&@NWG?HQT\/0_,`^'->5?5`]U[6MBCS3GTP,=?4:P68Q"HG=_SR(S_
M8SG3(SWA/33?JUT0Y+W#S8/37^'@WTPY_,#AEU#B)R`/,#[F9X_=.SC>ZWWE
MU]SEUQP[!/ZB=;[-K`/HR]'H]V4/J-VZ)_VCDT=O-_W3]T#K.]SK9_[F_R#M
M8\OGASX#Y3ZS]4'IUUSC[TCJJ_CJ3S[Q$][QYUOL?^+R(XOM.W\#76$?[#[U
MG_[@//Z>TT0]2/ZQ;K_EJ[^G:3[X:T_SX[[Y3[_#53]`Y!,XD&!!@P>?]2AW
MD&%#AP9[]#E8S\Y#BQ<Q9F0HC,<\C1]!AA08I*)(DR<-LI.(DF5+@D-<AESW
MHUC,DU%LY@S9IX=.GPYYK/QI\9F/A4,A"B583PU2_Z<$A07Q^-0I2:I#Y[VY
MNA7FUH+E:'IMB%,LTCX\RN:,F'9@PJ-7UQXLR38FQZET6UK%BU+E7IU=T\ZL
MZ9>L7Y<\#9_L,3=MT;=4XQ9DFABEL![U*)O4FUEC5LXL`9<%*\QPX<\[T9[.
M&+FQ0J^L!U)4_='N[(R;;3?LF_MC:+&"2_/6B%AXPZ!X';]6&EMK<8=1[SHW
MB%NZ0,_5'_KV6L['X+VFL1L\&YX@;+%NE4]D3#Y?;?8CUU??_;Z@]JW`"=,O
M2)S]8N1&TS-H,OTLPXP^ZJJ[3K^![+L*+._P`H^^\=XSSROTMK)0-@([T@]!
MZ>9;,)\&J<+O.Q$%XH^\XV;H2B[#Y00:D#[H/(Q/.@5%)/&I!X-#D<+^8+S0
MM1<9LA$[]][[T+D0%]31*1,C1#$?%</SKT4`B12P*0(OJ_$]')NDB\?\?$P-
M2.2&A"O(#6?L\$`CBV-2/R>1@I(N"=^C$CL6V7+_4<V)FIM1*B_9`W-.,7\@
MC4P1?R3/PJTP_%-`.*5#DCTEXPSR/3J'LI,M/-G3LSHK^\124LFVG+'+-[\,
M-$<QN^N143,=U?2J2"%;DU+G+"4/4^'DI(_3GSQ-"U3R1)6.S\9,S76B5-^C
MD=5"70V3K3%/+).^1V]-TUFY%NP5'W+8R2>>7\BI!Y]NGI'GG6+<,;=<OW[E
M+=A-Z2JVK&/#2]8Y4IE]["D-H14(GVIR@<;<7^:M!I==GGGGEUS0"8?B?,@1
M^*H""<+G%0#,P.>1``YHPA0#`EBA``+X"*<%9@S[T)J:XO&%XH,3CH>79\SE
MF2Y#A444PCNE;+1*6ZG"_]4B?*RIY`UWPH$!!D7#&04+:?*Q&)UW1I$H'@WC
M<T4!&*#!QQ(`"!'HE14PH("2`PR0@`,(@!C'!9C+LC2>6`K`0QP`"I$%@`/P
MB(6``#C8XY)A$D.P%@)DR*>4`P[8H90!2'#`"P(J>,82//"ZE[UA?=)7+'ZQ
M\[>X9<OR$Z-P3`$`D%86^,7G<'"Q`(=X.`B`F5=.6*"=2(Y8L]IX-$#`#6C`
M>8$!O//!YQ(W3@CCE@`PF*")413->U""XEFDCEL`<(;\`/X`YP`W=A$%@#30
MB3D^;$RH(9X.\*AE``**&,>""0K0!*?M!6CAP$+93-&"--2C&BW`@C(H005W
MQ/\#"P9*C';P80JMA(,2*EA&.%Z@`FA4PP6DJ8;"1(*M*!7D&BEH0CM,D8(W
MA*,22Y@@+]2A&J.9ZQ)_R%H+FO`,;@!1&J]0`3/P\0L4TL4\XZ@$S!K8!'6X
MC`7/*$43H!&/7,Q+)$JS2#4X@`!I;`(`*F#<0`Y1A`P>X'<&J$$I[!`%715D
M'`38@0DH@`MD2`)ZX$B!-,Z&LF;\HA0`H,`2O=*K>+3@#W\C1"L&QX98($`=
MXB#``EX`"/D=)!,U&$<&TF<``""!=WCHAB\PH``?TD5.X\"`[\"A.0+$00,[
M.$'**/",2-"!,]IQ!>3R80D*O.``&=B!(A3P@@E@@1O_(C2)Z;P"'G`40!CD
MJ$8&8."`%U3@`L[@1!0LR!DJQ>-L:E0$!5I`.2YPX`:(6$$3JD&VO0#,7!T`
M@![&<0(69(`,'#AF`$B@@EV8`@KQ,HGK+F*/<&1@"..*Q`*PE@]9B#$?GP0$
M/MX!#@(`8`YK*E@\+,"'50!`````0`+B938@&`P2":CH_UC0O42N2B#Q4(1)
M_Q`)D^ZAD"`;QP5T00`%1'0O'\J$#>Z'ALOI[F^`B$<C%+`('.#%4`?+P#(L
ML0!Z*.(``9"&*TPJ`4J`KI<&L0<D9,`[.8!#E(*X7@D`P`(W0"\DHY&50#0!
M@`"H0!0+,,<)2```!-CB";;9_V$\TEA'0#P.`="0A0)ZUP1<$)6),/+?'FK!
M`&A$0I2$(!\`QO:&<(;$BTM3A`T$LHJAYJ,6#\AA13,`,WPL(@"J&()2^M"5
MBD!C"$?)A%XU.8X0($,#?`!'-_&A4]_=CPP6:*Q7V"$$:%@F'W&4C$#N,1!\
MC-8O?X")5<K1/4>8-`>H,"D=/FL#Z;'@!`#80^B"],EE1*(&[ABO&%U!`76`
M`P,`0&UF[-.*M')`#N*P`-K$$0!GY`.L`5C&,\.R*+S*P)(0R`$]%L&&>H`4
M`#DPZ&=$I8@B6)(0C)4&+1*@+ITJ`)%I85WTBEN+H;I"E.838SQ,`(`%?)BT
MS;*(3?\%*XW?!D`8E&`!"DR:`&]L%`',X$03Z@``.4CD&398!X7L4`XA"$%C
MO%D'#YY1C"@,(0JHTV%/;LL.'LB4-VI`[3PD(@P;O`4<&0"$*Q[`#<X1X`^*
MN#`E:IMB`',RK8O8@2@V&H9-4#(<'*A`"%99UUA).!^K4#(!4N"`H/KP$0(H
M0PLHFYD=XB.-R(-"(0,0AT-$[A8$8$%,V=('U`:!RMU#GAC4APL33(``8\C$
M`M+AB@)XX0&A_DAI=1*5$?5A'3TPPT+4P(-ZL*$</&AQG,8\!#-$@5:5&G.9
MAP"%:^=FS%<NA[;7(1!+@E89BP!`#>J15XB^X@U@#8-A_F#_Y1'E`QHZ4%1>
M`<`#;E@`?88+`"'B48E<G(#%$!Z:5V1=+IQ4F6>\DS*0I5T+'9#/S&4IA@U4
M$H1\V&`EX3.I&&HAV&64@@`W;L$N."`!8U^E#R*/"#MZ(&YS'7@`?R@D1&FA
M5V9$#1<8F.I)$#H4-01!CM```@J%,00R#T$-71;.N:.P;:3E)K=9'P*;A?.'
M,??A&3RP>G&>P>U\X(0'SQ:+"L52##.@Q0SUX$'5V5.,'T#C#4.8QVVK(PPS
MD+D/T+!V:\Z>$V&4.0I"P+M`R-QXL#MG'7&,0D_RSG@UC)LW;1^S&M+]'MZ6
M(PII3SRQ(LP6/'"Y]&YG3SG4$'DRH_M,.G$T`Q0<?_J?)'TH69<C%_DMA-^_
MIQZYG;QT>*N&<Y`GZL/7CQJ$/X1(;R?U:8$&%*9^?.FL0PV^YWQNH"'\*-@A
M]*WSEDCFD8M>K)_][6<_$\;\!O<3XP=1R(+[\9]__)\D&_KWO_[?P`G^;P#9
M+Q?@`274CP#_C\R(00']+Q?P0NJTKSI(+PI`+S"J+RVP3@V`+U3(3`C8@QW(
M;/K.P\?_/N(3/J$7RB$;M($%7;`%6W`%X8$'LLP%LR$;,J8<R.$%>1`&>[`'
M43`;/J(</J$8>-`&6Q`);S`)D[`<M&$%E3`*F7`)7;`<>N$30@(%<\$'N?`'
MNY`<GA`*NW`,O9`(/X$8/F(>4/`3<F$-V=`-VW`-XU`+/X$)H"`+WE`.X7`/
M]?`,$V/PMFXHX"XM1A!%\&`(N,LKX*$/X[`1Z3`/4[`'AN`*\M`1*_$1XQ`E
MD.TBL``>R@$>[N$>/&(4\\$C0C$4\Z$<RB&[6%$43Y$5\P$693$6:7$659$8
MA!`CK!`>YN$48[$5?S$847$87Y$8A1$8C?$5/1$+->(3//$`_TLQ&DEQ&J7Q
M%U^Q%K%Q%K4QNSRQ_S+""@P0'IY1',=1'#^1',_1'-6Q'-DQ'<OQ$S\Q&ZS@
MX3[""O#P$^XQ'U%0'_%Q'_'1"H;`"M:0'PG2'_L1'V4B`T%"(`OR(!L2"SX!
M(`7R$R#2(0VR(?&0)2+2(CFR(*_`$S[!"7K@$SP!(R_R)*T@)*P`"\+Q'%UR
M'5]2'=<!'F&R)L>1)BF2&4&"]R[""D"Q&'LQ*$51*'OQ%.>!*%WQ*)5R*9FR
M*942%7N!'"YB$6,Q*)WR*J\R*;%R*X_R&I4@(SYA%4/Q*9&R+(>R++D2*X?R
M%(NA%WK2%8LQ+N5R+NFR+N<2%T7""O]2DA?%<1[Z\B_Y,C#]$A1!42G)<3`1
M$S`3,S"50"=U,5%,0B_S(3`%4S$M\R<-DS#)L3(YTR_]4@D@4"3"TA4/\S(7
MTS-YL1<WLS--4QQ#,24UP@K@TBYILS;M4C65P"V/[?PPPAG'\BR3$B[-TBJU
MTC;EDBCSX1.D\B$6\3>-DRZ%\CF!LBL]`C8?0CF#<SBS<SNC4SJ)LBCS@1CH
MD2!2LCB7\BRI<Q[D(3W7<CWO83W=\SR9$CV3,A]Z(1=CLQ6?TQKIDC^E,Q4=
MTR*@R2%@4SKGLB@-5"Y3,31/<"$2]$%ILQ?SP3HMHCQ?43LQ-"XS%"E_,Q^\
M42-XTB%R817_Y1,]MQ(XV3,MN7(M\?(ARE-%830]8[0I@?,3Y,$B1G0MR7)&
M371&Y9,XBV$\L>L3B/,IQQ)!C](>Q@L`H*!<QE)MEL`7"$!N^(`_N_)(D;0^
MP[(9271#7?$==E`LSU,>R&$>P#0;J),[U=1#=?,BN$-('8)(R5)-A],J9=1+
MAS,\T5`CHA)+Z?1/2Q1/=90Z/R&[KM,I`95.:31-,10YQ1-$>=,B[O,W4W0[
M77$]B]1.@[,P[X%3.54HX4$>AC(YH9$AY`$+_7(M"U,U5;55NQ(>[,$P7955
M7U551755>Y%"#V)21?%64?1/?Y51.Y4TB?4[YR%6$?0^&Z(3!Y4^_^73'AZ!
M!TQ!`8#A%WJ!'=ZA%VSG'2CAD+9A'KJA%XJA'.ST3L_R`)4S(^2A%SX54#T"
MX"@`'?0S:UQ@%SI``3X`9EIQ0Y62'(C!4`54(2UB-!.U42GU8`4U.K.A&`#6
M(HKA7PN6.],T8LU2.%4S%Z+#(`C66'U41\U314WT'K)A3S$B1!LB%[+A7#N5
M50GS*%/S95<V9GEQ9?G2*E?U9E?69D-Q2QM"'K)@6%.U96>V9FE6-5,U:(>2
M,(MV:?F2-%TV%*G2(2;5,&55::VV:%OV::_V:;DV:(U6:>]!61G"&:T24]V3
M%\^V*QU!`4@@CUJ``/8@$@(@!52@!3(@`/_60`/^@`,4X(!B=5C-UFCC\QZ"
M-"-0%D57]!XT008T"@IP841QQQ.@P1HLP0'>H!CF`1L\`1>@H4<1M2@?U4T%
M]B$.=T=YM%R=U4>7TC[Q\R'F@1C(H5EYM$<]MV-[\4,/`A[8]3W'5!3_5E2/
MM1>!]W>3]"@Q%5E%=7B%UW>%]SM9-R,VD2'\=6A5=3Y_\A1756:-MCN-\FB]
M-V<+$UV74WH+M6NOU$C1ESJS5VG/$S@1EWI=%AX\X2$FE5.!-BVW$U>9$F>[
M-F?I4UP98F3_<EA;EH"MTAZ0"0N>H1MP@9TT0`SRH1JPP!34`!\VP`L4[!>7
MTFI9-E7OX0INU"+_X($8R+58A[53??4H\T$3`,H!<*$2',`-[A4&=B$$5N``
M7F`!E$$#)."`.M4>4/B'@=9__36$'V)`#6)ZH584854U;Q6(0U6(0]4S6=9I
M`?>$H[B)?YA6X:&(+Z+_DM)JGSB(836(_3*%_3>+H7:,L_AO<55DV]0@II:+
MF;B*V5=HF7B):_5JPY=F\[@KQ?8B3/8@Q!-\J=B/^=(>+L$)OK9651847Z$/
M3*$/[C=\#SEK[R%=&X(<RM>2-5,>^!*4/[EFM58I03EH0S6473.5<]8S.S5`
M#0)EJ;9I\9B6L18U#3AK^9>4<7EFQ1,?#F(TR_4I4_-K[T$1X"VY3`H'_QQA
M;E,`"RC!"<Q!`^+``@8`B_S8>L\374O5(8)TB?'8E?MX'C0!`7+A&7[A!88-
M;7X(%["@&T`@%@`G%I'U)RU9G#LU'U!6=.&4D%-V@_\8:.&7>N_796G5>P<Z
M:14ZDW6/3?^8./MX(+`X**_W>DT8N_)8H*M89!E4CM%4:Q<:H]$S>T=5@[,6
M03&:I(_V)T-7D"-5:AG6:`E8:+LR'%ZI<_E3("QA&&!Q("#A"-YA%;'K95F6
MEGM1D\D7?%L9:8F:J5'3H$_:J9^ZE/G2"H#Y9/^9@XV:IOD8:YG6:[U6JX>5
M&'YA;,L4J@W8F`F3'(RA%\GA%Y1(8GZA&,@A8__F(1O*P1KFFD23%JQS.9/'
M%Z9#5J;'V2,R(<6>RJ3(P)X.X`T^`!=80!D>0!DX```<@*?OV9%3<ZP#NR&0
MN"#$U8`KN8XU6J-!FG>[-J&W]WZ3L[,9XF$U6I=%\1TZH``<0!A*.4DO`;?G
MH1JR@(I[D1,*H&2Z%&R+62FSH:-!.V6/^Y#!:IE\&*$'\QX6*H!(-'SMP12D
MX)H.H`9F^9Y!45NAUP0?`A<'F)>1=AY>@0(>>!Q$X!DVEQ(&QZ2:X)4.`+@T
MX0@NH0]TJK$:N9CK&!2Q<Y,[F8HWTZNWFJFUFAP17#4U$Y5AN6-0=I4O.9O!
M&K@WNY:I6JEK-GNUM6'_!V)$-;S#+QQJK]1$B;8H41-F2;QI`?LB8%N,T?9F
MM3:HC_),L35,RT$>=KQ,P505%?K"A[8K]]DB!K&\_WF/O;:5"SC#@S<Q_UK(
M-QP41_0BK%6A<755P\$"TH`2%.",^!,?),$/U"8'#.04'6$!?,$"AH`=I)NI
M.?JJ/5IKK=9_](#!,9H@QI)\W@`#YF`@2A56*R$+/M%0CW2575$\[:%D7[HA
M0ONI*Q,UXT$2\D`69$"XGJ$28.``"DL1^.`:/H"G5[@(-*$'(D$/HD<2^F"J
M*=.@7YS`L;:8_W(P6YQF.WS6XW?%-Q/2:1T+Z*$A[D&6(;TOU9?74UG7MSDQ
M_UG=V/OREX.9N1$YK.E\E5>SEZ&ZEQL<CY':(0J9U[T=O?NRCH]UI)V<J`43
M,5,UD!WBLPDBM,_]VS'\VL$]MV7=P&?YJ%W;(/`!ME%S/4F9%\/A`@!AH=Z@
MO=#'$B09"R3!I&P@%I8`%3;*#CS"$6R@'DKA`3IWV4DYN8UXN;.Y99%G`48(
M!E[`I`#AMTSJW581'!R,`R:@OVK@'2H;`;P@`S;*`(H@Y0#@""IYNLEZO!NZ
MW;-AUTNSU6W:I!PL`XJL#VRJ!A0A#*S!!0#)I$B]!RS!#AK!I.1@,6?]P`=<
M>J^@4XF^Z`&3PL>1UKF^[%M\-?^R4!L"'R:\-'7='?];O>CC5QS)X3(I<^V[
MDJPS5B!$'.T/LR@UL^M)7.R5O9:)7O##?=L;8JX7O^L37^X-/_)OG=D1,]A;
MMR'LBD^'WO"''=DE?^\G7_"Y'I=S(=\-XA>((?1W?1ZV?.`_@`2\"A,0()-,
M`0M:@`_(A]CZ2^7OP1%DH!XL`>/%/M*;-ALB7"#<G?1YD<$,"0L60A-(O>$?
MX!?,Z![`P:1$/A_`X0$:`0'BQ10$2!A>80<TP`ABL>[3_1=`O"&B=U<9MN[K
M_AY>80G*!A'RH+]AX)4`PH\K`$TJE3.%`<`13EHN_;%$(,`?>//@4;QH\6+%
M>Y_(Y?L(,B2Y3_<T9JQHL2+_RGFO``P!Q^`9!T#W:LZ;5[-6@GKW<-8TF3&E
M293PL.`+B?1>KV(EB0:-=PC``"PNH-6\BA7>58KO3```H,5GSY]B@PK-N/0H
MTGR?M*T\">]=MFS%RI$K=],LSHQRW[XK%Q?O.W+9\&(\>YBCQ[5KLQ'K>1@E
MUI\I56+<*/1FT\U-$;]=V2L;X[7K?A0;C7IIY[-$Q>Y]BWCR:]:T+UM4C!JD
MO6*]2MJFN+*;!2J4'(P*(.S0@A=.*&$Y`<55@%$/3N2`AC>?HP6^,D!A!]3W
MX6RYY(T.G1?H/+G='<!X\;6(IC"Q0/Q28>S>K0#.\H6S```"E""7C2D%]>'*
M#H?4_U"8;Y_!0\PON2'UC`_E3+C64GJ9%=E/^=3T$8@W?:C2AQ]>-4^(3@6U
MHF+WH$;.%>+!A=AMU1#`W0/0W&5-+L40ULLOIC"P2UT]`E/.C)9Q&!1)J.&3
M2S8;7A2/!7/D`P\YY/S22Y"]Y,)E,>_T@DLQ.,6S"`7"L&/-E\_TF`N;7T)3
MVVT1IKA6+N1PJ!(X4JF`2PO#;%63/0W6=,T2Z*"XB@SW.)*`-)*HH`(T8E'F
M&6X8$O,8BQG9PV4NSQ1VV&U"C0G>;7/-8TU^V?Q2EV=,X@2,:!B6X\-I&(84
MFJ>TC2EJJ[*>^N4OQ)!3#(W*ULG1A1@:6V-D<9UP@)KP6/]R@(ZQ9'#`&Z-P
MJX4U651#0@%J).G*`0XT89BOB9%G'F,:UEA1.!<<T,0ON.#"[1VN]&$-%MU@
M86DX'Q3<P@$Y=$.M"KKD@@LPU=@1RP$'].$44??<N6L^S_3@;,?Y$,,4DR:?
MC'+**C>YV&@CK9@R2RFH\,("Y&@0AP4#.(!+0@"L4(#%+&0``5@SHHQ2.4:A
M=D^4,']Z";ZXN,`+`0&:$(`!`2C\2R4I(/"+)[B<$``%SV@0`08/Z-("D1P,
M@($.,!,5H5I(M05;1GXV44PW+@C#BR?`R,,+%I0H3$[A/K[C"1;)@A.`-!PH
MD(L+;XA9B2>`>Y+LT_-TM&LQCRW_>1$X!"@``RX'HWA5JR"&8\6BA3["@SR'
MR!#/I+CD-UEFAX6V:VFZBJS:;Y>Y0@`%N_`"S*6]OU,*`!3@@@4J";@S&5:D
M?Z9I;O?PYF"I9FDOXJ4GXH33AREMI6QK&9%'SWG9*,DBZR".A;Z#XIW/>OYE
M26L18$BH8Q4*6<?F-:N5*7!E3[N(BV!TA0::C"6`P@`"S+&!.(1`&)5HP02P
M`(Q;X,XK"SC'(69PM)4Y:3102A;*\G&-Y&&A$BK``C,TT8-J/.`^Q>!%)0H0
M!Q>,X@-5J`<^-$`(62!@%Y7(P!HZP(=:R"!5L^)8GK0Q03^I`&`P@('5`N"%
M`,`@83FX_Q$%1+&`P_'M0H98PP56D`(L^`($J```"T[PE070B4G-VI6QCH:2
M_U`@"\H(P3),X8(^V.,2*FB!`1:0"QK^(@OQH&&<:D&#;A```<)H01]^5(E$
M7@(&N6C7^**TJW*81F0?Z54",V()!##C'M1XQB52D`5H(!(+,'#!H.Q1B@"H
M8!?``$<!:@B-:<`@"^3PFA_H-S[0/:L7$ZS3`AN8-Z3!ZSPN7*`WOWFR>43H
M1;OZF`%#UREP:L4FLRH)^]29DD_8RF6?D."L3'&P1R#@;!I<1B5@0`('+*&.
M!Q@`#+@5@#ZD4&5+&XU2I'2R<'#K`"P08@8<4`5('"$6#_"%"M6J!H``S/(=
MBP"``^+`@0@D#P5?*<,&`$&+*:),@*-QFLD@UQ]LO"`#"'C#+Q0A@WJ\PY?A
MT%$M&G""'JAO'IH(0`Y,09!N@,`7"4"'(A10),#,2IH3$MU"[Q$.`NP@%]T(
M`0R^@@!3!,`-GK".*?!5C00$\PUK,I@H:J"()KC`H[ZX0!,H@=9!\1&5&!(>
M*_-1O)2]@Q(?>(,DV&`-7'!`#2>80`:J8X.22.<-OG@`*@K@!@Q0P&<P*$`3
MC*&R[J%F-^F$IVNKR2'XR6]%]GRM:R,DL@+_'A:!WXQ'!PI`@6$PZ1)28-@`
M&""-UWZ.''9;2XQJRR'"V*4NA2D,.5ZA/`Z$P1K%H"ZLM.K-<JR0,2U$V9A^
M80R[5*()OBB`,*`A%[L0YKL6>54O;H:'7Y3C53\JS#NZ6<5?X.ENX.60GP#P
M@*EY(2$/@*HP3X``5"``&K1(8TC[@!<_A2&&6BBJA-WQBHCL8(]\XFINO&HR
M>P'"/QU(@0*$40Y-(,`=^+#$'!(%#7`D@!%!+8D]2AJ&ICK!&BKX!0B@D0E.
MWF6"P+O5*EG)VPG>`Q]I:L$;HF:`*%`B#I*(@A0K4HH'2",<=+R>(P!0@#24
MHQH.L$IJ/W'.T?#&_[7I4Y+^;%O?3S275P#6BXFTPD!`NI,S"U1*,>*%(7/N
MML\+K-(.%I$#=BQUJ:]8PAY?M%`5SI,Q+\-S4&(84F9XVB(-9<Q#8W823GQ%
MI@J,!Q)O.\"UR!-EA+D+8/9[%RW=14I:!8QT,[+D<MP:'L+.$JE.9F+4B.YD
MIOL*&3Z`"P`MX$8`4`!\4D`!:-PB`;'X2J3A(0L`$*(6`/##-53@"P8PH]D*
M$*[)"#LAPT(9HN951$C?8&4.?,4)DNC#(J+@"D==:\+@\.Q7`%"&DDYGPBM3
M[6AVTPOHIC@A0$B5/!)!$WB80@I4=.TVY45OO;0$``GX157X>!)-9#8C\O_H
M]ST4<81*8ML8$H<'30EHH46#$S!5TL(C'$""`$'CS-)S04(&D`#A`$`&Z`#G
M<G,3HU%+G4GB)2=Y?33UK&?$BDC)!1:UGO7/Q9DQ?V0@`($2+7==DQB;1HTJ
MAW=`1BLPFT%)(>FNF>S10$N=KI8!.21!DWO8`Q$T6203?/):WB`:*5%.]?7N
M48U*$>H>V'#!+-FY3HJHO$HRZ,8'@C&6T$MP*?8@(,AT'I1AJY[807D'@-H]
M#]]Z0=SY,$463*&&@@.5)QE9O>]9#P]Y0KV>%OE][UD_[&_V&OB_3WY1]AP2
M0Q<?^<!/V?(+O#+G3S_Y-\\3O9=?_9-AWV3CM_[_]"V2=\8L&^Q9AW=NY$T\
MN;/?M0YG#,3AZ:?`1R*DNRCITD?Q5U]A!ZY5#+D0/R!W,@,!`#9@#2V`"U93
M`]UV<`M0"5^!`46P?PEU#]>0`*@0`!GP!D*T!(#U,U_Q!.4'#T&26SD'92ZD
M?>('#U6B!_?P#OH&`&Y``'9@#3`@!:;@!'$5"ISD@M[T=!!T?F;!7^7W7_#`
M7;$"7O\5*Q:QA/6%@F91#E>0&U`2<DBX>L='?M6'+,8';,?&(5P7$FT1?AS2
MA6J8>FEX?LU'=?6G?IT"?E58A6SHA7;XAA;19!.B2L*`>LRWAS"H3G4XB.@W
M=FNQ=X9(?<D75C-H79*0_P901&Y8\`$8L#4\L'V"2'W51QZE)R]#.&SSX`H[
MD0_5$`)!=P`30`!%X!]5,0LY$&,W8`%Z@"4QN`$D<`21H`!+4`U-8`DV@`\6
ML#5-L$?.1PR]D%NGQTJ<0G6-V(GO(`G/]`Z5\`$.(`S8\D'`,`UO$`Y+T`T=
M<`!2`%YPN'J?`'?.]0F">&O8D!`!,(`<,@U.$$,.H`+N)H58<P!5`!@;>#UQ
M(0D<UX9=6&IKH13$L(F`<0T%D''U]7425Q>SX`1)@C+3<&0)"2&QUG7?!XW8
M5P[O@`NY0"=:%5E1"`_9D%XG&85WN(;IMQ;K]X5=Z!1:110%5GYBR"3NAQKP
M%_]WU]2&S[AZ-1E>6N&2T3=GZD12"C`V08=P';`#C8``,*`")$`!(DF`!LA-
M)\,)`?`&P.`++9`"#N`CR@$Q'1`%KR"+FH`#')`#N8!:\P`)```(3>4'L1@)
M-E"#-;`4XP<8$7*`B<:"\8>1YC<^FQ$M>]&)"E24^1!U1P@8V-!8UL$+RU0.
M.Y@%L*)//I(X,(`DLB!2VY`+DYD%W%``RV1+E]DX([F)\*`-X[46Y76$\!`.
M!<`,/G29'8"-@<-,H(`%H8D%65`.E]";O&`!.?`+PU"-()0-GL"9S80%PC`-
M)S=^R6AU(>%UG!A^R><("F`!89`1KU``$^``@F4/DI#_!>QP#[+`:ACI?,L'
M9[O2"P@)C2B##8V#6H#Q#H6#)!G!7?CY">#!DIT(&'V8&[B2CA@R+W#(A,RY
MG]A'#?O))-90";ET?.9H%HL)$K^0"QW)H</V#BV@`F_`"Y0B#)<`HF]@#5X)
MEGW0H2V:#9^0&J((?-4`EGP#)EXC!#0:H@;R)>4P#7TP#3/C;CC6#58`#3W"
M"RQZ#6#Y!L87)-69&XK6C/+)CL1V:\8GALF'I2VJ5<('(^LXG];``0<0`&I0
M.!DPB0_P!I:0`XN`.A\``P>@`DBB"55E$5UC'`7``A:P`Z$T`E]Q!'E8?`69
M(?*Y>K.Y#!H@`51Y`@\P"E8#_P!D4)R5L(H%\`>320)-D`$YP*;Z%)8)0P(+
M$#8OP#.5@I%^R1BS5J6.:1&1D`,PX&[A@`&1-@V!H@+%4!PIL`6Q0`/-Q`(0
M6GUKB'XM<V)4NH>_%PD/P`%%((6YJB/N=`E+D"0ZL2@5FIA>"`\Z.1H\N2O.
M^(7P$(X.D`(%$(\E00Z]<*1(DD+5D`$4<`):@"G/N)H8^B'K5X[8&INFDGD4
M86?R&JQ>^'$9PF@%=C3B07?ZVH_?FD+@U7V`F8@QNIHOF)UNV)XQR9[4UQ'0
M!Q)19XC6T`$4``SD<$L&0`$9L&*OP`.R@)<M)HOWP`Z>R0SU&2BEF0#JH`C3
M\P'XHO\A6FH1VN`)4!H2](!U/XD-'I"H@%!IE=`'K\"5O_`+'\`,Y_8,B/`'
MEY"S(3@,L[`#&E`$_Z$`6&`-]N$"),``;B"=G?BDC'&=/&NEC2B-!)`#22J;
M%S`'7,$++M`$DT()"$`=C9!'JGFMG4BO^;"(V#E^KV"/&8<-&?`$ZV`-U:`N
M(LHM.A!7Y-`"C86"PEHKJ?1D@LFA%A$+#!D/UN$U#I`%T4,!FC,-%^4&(1!<
M]O`(>O0.Q(`M2Y"2:PA^P?>P(<$E/\FS]YJ[?'FQ`KJ:$-(+B\=G$4NQAINO
MN(N';`L,Q+",NRLO"'E],%ALUV>3$UML5LBJ3=)V2#$2TX?_15K%KG(0>S8H
M!/JV`(N@`P%G+UY@-4#PD?H6`%C@%0!P5E\!!930!'@$`'=P?.5+;%F@L2`1
MGSU+?0NY#!9`"&PZ"G;TCJW+#-.@`L_0`3ES;XN``"=@`]$C/3"P!-9@<"'E
M!B!PGVW8L&?(:X-YA+6P3QP,"''!`3(P#Y:@J6+5`G?@)U[P`"90`\9`*K]'
MP,,VN,OVN\QW:XN%`3(0"SH`#^R*8251("`@E:-0`*.P`/L7(,*5O1:JK8S!
MK0A*I5T(&*Z``,.`)A30`5`02[D`@I(``Q<`!,40"0BPGXL@`WA1"_>[J=>;
MQ,%'K`Y5#.MHQL>*R`HJJ-O[K_!0_X!_R7C6>[&^0;#X>J]L6+%.^@N0'*6!
MV9.L]W7:0%)?80.OP`1:]74<\@X:H`?4-\I[+(63`)SP\`HT@,JL"<JLMY@<
MVY':4&S:D`VV9EW"YLO"-A?"!AB%(6SDX,O2=:7*#!A8]'71?`4'G`_EQ;:^
M[,NLI\S0?*7&O%]VH<PG:6N^AFO(W&O2;!')6%,M7`ZA3&SJ?&OAH`%?<0#M
M!@^@9F$`(`$M\!4=F`!0!0#7D1'PG'RI?`74^Q$P2;Q:>@WJMG\S'`X=8`/D
M(`*Z`"`.X`8"<P%<D`"*H$>-#)39&KZ,\7:HM[WF2P!Z,-$[T`%ZT,=QT`+,
M<`GPP0<?4O\-'X`Q3<4,Y#9ABB"+SRN([_DLQIJO+9K(VW>3N+R)!)R,H"BP
MQ0?/&:%J:9P1U";`CXG"%K$(K8Q\JURW9J$)@=J&TVQSRFAZ"HT4WFK6Y3!X
M-F`1IA#49F$-(8"/JHP($_8(7GTM_$C+MES6&%O2&[N.VRS/OGN(RINEB!W-
M&8$%WI/`C5V^!9;*RONM_UI^VUQ\@"%`G/P1L];6@2VQ:0A=14QLVY#+1CS(
M<F:HN*S.AQT7_I<"`>`'40P@-B"!J&,UW)9T5H//DLV:[^S:&3&X8SPA;#W<
MVPP8EO`5$E`._E<#Y,`!`=!8_O<5^#S*`;`+4<%)B#`$AQ"HKYW_R\.*(??P
MHE(=W+1L-4\0%)6=WBF3RL*A!1SB"&1MUA;QR.=1QJ`L;*ZG!XLPW^400UU[
M,!9!9N[V"//=>A80J)=PRA8!"<PJW)KMU!HY(;K5@FVKSJ-<;I5&@E#P"/9<
M;1D04@0`"-P]#/\A!WBA@/V[VZC08-Y&S..=L498T+FLS3@^W.^<O3N.R\.6
MX\4<W(>M#=IP!5#]FD-+P/*\Y#,^X4-.S,@LS5?ZVCRNW/$LW"F(UE=T:U@D
M)4&>VKZWI5?:ML7VY3J>Y8,++8V=AL"=>3/B&X0":"HA'L)=L1B[VB;=N3UY
MR$S]$_)`>.(AZ%FA5?K3%`77O<!GVFJ^_Z'@-PT,C@U+,!?9X.637EUS`<R4
MOE^8[E^^C`VU^`XA(*USL0AD[>9/G95/7MD#<8*`P0D,!P_<#<>`&@D-88(?
M:26?;D<`HA!Y2,#!5PQ('J7,2#SR*>3]O0@K9PH.@(D'D`)R28,S?0E/(`\=
MT`4B51(2U0,G"<R,Y`):`#D^[!4*D\)3'GR#_1$<:]@_SJK9^^O!W=A`SN[M
MS=2I36R>`-FMO>2).=7OGLJIS.8F(]XWCENI>N8"&O"!;=ID#HVP?=CGF.=K
MX8SB#>:J9Z$];O'V/N4;S]1>&F][#I\(2?'IK7KO,`DLRIYDCO'H?.,3[N;T
M^CTB;^<:QP#"9?\/]C;0CWIPVLWK3=`"$?$,`"),'R`,B##?PJ$'UT",7H1F
M\[WPCEP>^FVMQ7P-`?`"(*"KM!P`PE48UI`"7G!DF9``_CO=!Z`#N"X&]@`*
M61`+(C76-][D&;F":LTKDCS<[Z`<FO,*U5&5OE"<8-(!>2L%Y+`!.-@$5AE+
M6-`!*_`5%`"B`S(*8T\YL0+;'L]I5Z#H.DX-GN!UJA[/V]`+J*7`E4D,OSPF
ME<GYHN/N^Y7>1>X)`Y;DR0+FKVT-GN`)I<_?I[V7"@S,Q!#DW-4+G$\-PK7N
M$[[-Z"CL'Q$E73[<7_X.L!+\P##\[.[RZDP-Z27>MV8-N/_+GI_0Z/3_N8P\
M\K`]P#[NWIAM<^@>$G^(TO.9_;WWRYE__C?>\*M*U!/R"V"JP+1<`"P*$*8`
M`)(5`(L*7@Z8*3+3@9FE!\)\7?BC`9"I)952/#`&KYL%/?8F]7&%0%JD(_!4
M:H/'DB6Q7O;RS:0YLU>QEN5<PBNG<E8`-Q@"]"D7#D.-2@XP``@`XT,3#C(:
M`5E$(5>Q<N\L+.CU`D0E@QR*6`.6DR?+GO`^%9-9TVW-9SW*O:5;LQBQG&C+
M[>75(H46:[E^N4C1AU<*%<(N-?$DK!RH89=2+.GX3F,5:RY4O.G50D66;EDR
MI\BR<Z^VO9_(U9U)[DK>LWM[\LK@X(`?E2M;__*L9D$+/&O$TKZBT7/OJP36
M,#CXX+DLZMTN>VK+@H_UO5YX=\OF#L\5@`,.>@%CF1L>M@XZLGY*6TU%1Y[6
M.F"I/863#..F]_*$1^Q7W4^R,6LGM."AI@48ZH.$")72,N]!1/IX\,%J.(HN
M-[W46HTUFG[1CD"S0!$&LFT\P<DXGHR;KB5>@*$FEP)7U,L:]G2"#3K5.*1I
MG1^*T?&M["Z4+L,,07FNP7*V88^_;'C!PH4G<\EE.ANE$]*L''_,YI.S4BPG
MFQ,<:($""RC(@`)<EJC&@6$.`4,#,U58"H`_+!C&$AVJ(:"&O<+9RI,6'J`D
M`!8L.*+%_/@K)A=ZZO\*<COI>I(,"T^RZ,@:YTQ188E?*O%L&%Z&P;2PK#12
M`1<7<O$$,6`ND7!%V'KY[\>9GO%A+EII"A+%G29T\-?<TOJU//Y\+=;+*E4*
MT+JZ7.,/-0+?Z>`!:*@9II/)@)&M)6LNT&,;1`*(XI4/,LA!IYX<.4(3!)C)
MYI<6M-@/1)<\N8<U?*[**=F=7F%@%P,.`""'S%305MHGRN%D8'C/-,;&5Q[0
M)0,GRAGG@F&VXU=9MNB"L4KNJC0%!%P.J((=311088ML*@&A#VQ<^,"*8B0!
M(9<6'"@L&TE4R(47F?MX!Q$]4LSK-)6NV%#'N[HS[9H"A`$)FPRV<'#"W++_
MX>"!SZ[&^IH/.H*5V"QU+,<''W.UZ409G]68I7<T8+!)^,!!`)K=+OD`"PX,
MPAFWM`K4R\J>V*/UE[(VMJ82+(2Q!@8LC`DNFUR,F:88"YK`HA@GL7B&%VC(
M"B<#HK+R!')5=^$%<LXSMM%&F-H"$B?47N^U0:.#U;U8!Z$S[^I$H=U-K8YI
MC0M7M>]R"=K3T!5^V]I!A@YIZD.N'FG34"N;+F>O1"V<#H#HZ1H"=N@@AXZ@
ML\8"/]Z1!$T+:J"DN):DU<,1_%22Q`EM(O7_$V;1!3O"\5Z*O@.`!R3E#8L`
M```2,`SP)2P6`7A#F%Q``;&5HQ3%H4T-R*&!HB6KUDHLD16`!-0VTUCB7+31
M0200X)07-!`!O@!`$S)@!U,<(`U56814&JB`##Q`$@DHQR*><*/H%&YI'`I2
MI+8EBP1H)0`$&,HE,L"`.SG``3\K5W&V88(`5*$<T\A``;90C=I(@6<?^(`6
M%E&TVL6Q<-F@%8_2IK9'14^$(HQ;2BP!``IX(@0&(")/W"<%=+@B`>AX!YZ.
MYKSM)%%#/[I',;C4)17M;C_""L<%F($[)/5D&@X(AEE^=\H+]611\G`47@A$
MI>@E48_(8M[K-&:]`D('&+,RWJW_U&83O-C2-+*TDO_R,J0;O5*9D%0+'5GC
M+.8-Z1V+6``T.K&"``PC$M7$4+?\<(]...$:`YG%N0RY`4!H(IO4\(0DEM`\
M8VY)=F_)ERNEY[R2$*5"S]``?K*1E0[(:QP,@,8A\O2>W5BB./>810$J`L>C
M;>-UP.C%O=Z2BVSTST8"@HXV&JD#>#`T`"<H`OA2H(!B:.,:1'Q$%"J1!780
MK18)4,0"C$$.26AAI44$*<A@`X\K((]#=RE@.1Y!!#\%@1<?2,$!J%#3$SP`
M!BIH00-3D@U%`$`+Y."`#4I!*`9,E1<6```"BK&(E!1P>ZPI1X]^F8\F;G1`
M_,J*6.`Q_XT/5/`!ID@`-/82LRPH#`%[4>B\AC<D=.UFK77Y12]:@LSHQ;*6
M7](C]N"1C7_*2#:1U4GMHA,[1YV(7D*R[)!`)#TD(G9?<81'+HAAT1\=[ZU$
MA5;_EM>_!RVOL\.3I6YZ12QA"8]`VEOB6Z#96]0HIZS".`13L/"!+3P"I'HJ
M:R4`(`$.-/`!+5@"-(8FAG=D%P%OD,03Z#6DZC#1E:GE24DRYB<$B**!U<3&
MG-Y@@0"L8+Z26`!J(C8*`@!`!N2P`"`>*TMT^2>`-0F0C'2+FDN`8!0-M($C
MB%"-#[B!K`F(Q6!K&F`SW6&FO@BP!#Y@APX7\3?"'>$D?[0KM/]8Z:A^T@,V
M/D""=F$"`2^X0U\H4!:5@,D!IR*`'FH!`!8PP1HJJ(0YI]G3TS:SCF[])3$(
M2"\1HB5N1;@'IH31@2/LE"?;:`%1-%%(A>(-L8GE*):**T!+(@FRT1'N8S?F
MQ&B6%LO"6U2CZ)*=&!]MSG6^76Y3>^<[]^<7"^:0K81*J^P@&BT'M*GW!)NQ
MG;PC$6+$+2C>LS!`@$L+MA6TC9;US*#6UGDVVAU_PL&1_8!26+%YA`S,$PX1
ME$[5T;07OEQK9]S:%K<_[1VP'D2E:7@@8RJQ&S2B*5R6N+8N,!(V)*%#KF7S
M!T5&BW6Q8J0[^1A8.AE='E#?3!?:=O;_>;*0@5;T<(T,++"!@%B$'$SA@JH"
MH`B7Y8`3*+$$2C0P"*;(@7MX$>``"&,1<T`P;A=+E[;>,5<W*36TG>?1Y@+`
M"7U+08`3@(J[N6\*"NLK.2C!A%6?]Z>&^U%C'UMN4@>;SLA=[8&':W-!$PBT
M?PZF1EE<VY\S[Q4":R`"K9"^BW=6Z3X'-DO6`EL=R?:73;3MTOW[KPNDP`'`
M(/<_4=,)!&2LUMK`;`CDQ1*>,8$<'0``@Z8!`C63_>7H>CA-G&5MH`O;Y\.N
M=IZ?APV"HFL:E`'V"/N77M9$VO"V\_G2DYYW57\IISGA1`]68G'<[M+/;EE+
MER!/=A=(Z//J_VY\U?=>=>*0OM3EJ+M;(JW,_ETC`)_4MJ_"\0&2)(!WQ^;/
M*P:L`2"$`-/6GN.4)0[I]2KS1MW!&H;*H4+X7';RTJMMSEE_;K=4<DE[I[ZZ
M4YZD%@2X@0E8Q(I57_J8'[,GQ,@%*^EB9<@NG9C2D]8<[N&(&<P#&P:S.6HQ
M#QO!4!M'>RLK^S[F@8=7()0#$!@%(``Q<`4:<#9XX`0$,`8_"0`Y:2`[0!=,
MN8-KV"LBJ@9E>[9D"1`.@2:]>["4(\'/2\'IJ+J7@[S.`B#6H`?7\KYGPSS2
M>SP#+`\8-+V^BS9BF#9R$[;5,CR_ZT$#7#58NKCJ>PU:23>F0PU-P_^-OB.]
M=Y@$*A*WTMM!^1@87D`YO0,VKJ.5B'NKUTM!(`2Z)30]:Z`9C<J,AS&]G."H
MF',Z[',+Q`$V.IM"P]L-O(*@"S"P::`6F<O!8S)":($)1M,5VDG!&%1$U<,&
M#]`6_"D';&@!3G-!-20]4@.&(<P5J5,;#VDZO2N'[W"`+*@&RIB%!2B_G$".
MC,&3:L`B2;":EC@0/[`$!8@A0+"&#+#"T3-!5"L\-0S"8TRYG,O!O'L\+-`1
M0'-"]`O"QT-&-AP]O^N?76K$?`@09NP[#(G!EYNY.[R0/AS'8",NY%O!:FLZ
MQ_.=E9!&$M2=YQG#UJL).T)#>XJFY4M'JUO_07A*QT2\0J:[QYFXARTY"X*,
MQ!PLATN@#&PH,G@0P6'XO&/J1U)C/_<#$F*`K$.41Z6KD&$HATO<AA"0`FO#
MN?]CGD_XA<V+.E^J,N$`QZHKB4^BFAP@L+`#A5+J!`#XC%)XH0.8@`)0@TH(
M!FW`E"P($SFQ@6ZI2.[S.=7@QM9(-4YD1_3SQ&-,1FOTN2O(!ZBKB7J*09#\
MQC&\Q@<C2*[,#B(\16B[K$I8`O+(2GBX!#_P1VP(++*K'&J8A"4H!D\PAA8D
MM2MXARB<24EL1J9C2._CK<MCR$X4'F(TFQ\0!GV4OZT\/9M3Q.J;QF`;H7]D
M.1WY!?;P3--S0G3)_X:'-(:(+)IJN`!A9$>M++W^Z`6J3,/,)$BEHT3'<(08
M^!)-G,W<',.K"$O6&,6)FTGA3,I/$,QL\`0L*(=#L(%L&(]RL`;H%`TL^!G6
MX<G+XJY>Z`AJZ(.W2Y]DG$SN>8W3R\SE'$RU7,//\P2J!";A7,X>'$[X[$*]
MVT:Z")"!U+ML6`2=01\,$;:XF9OF5(F=4DT0^(5I:8$<0(05.\UJ,TA@(B8*
M!3IRF(0M>!:=L(948R=CH(80``%AF`3!3$*SE+(?R4>99$P57<_\Y$KWC,3K
MHR3*(<ML=,NJNX3W(!_75#88C4J0U,A6XL%=:T]RV(`[T(9I(`IJ"#V`[/]*
MU&Q)`8Q)M2&'7BC"#-U!>"`P.%*ZYD&7BV/0.62)15"/]S2W$[1*_'Q3&6W/
MX;0"#J&'-+2Z-933K,S0&:5#:>.>3]A*P2N`42L&*V*`+="[#V*01P`D3\@`
M`N@KGGF"2PB[;"`&5Y@!/!W#H#I,.#50N0&.P%1027W(7L"`'*"$&H#%-UTU
M"\V'LSF^%T-,&<U-V4Q2]L1&IW.FT0Q4_-Q4:'D[I`Q/;>`%$$A1]Z31<H")
MEZP)JOO4TS.J&J@M'X5*&JU5VR*&8C#.ND!.6KD'UX+6_NE(<26[E!*V;$#6
M9%2:-H7,<GW7X;Q1]8)7>H767:H+>/"$X9R&`L#_#3^Q`1?"M/[9,GA8JC?H
M@!K@J^L\@3ZP!)OJ"5=H`&?+S%[HA8U4+T_$2I_;LFD"@`6HA`T#SBBPA+#;
M!F.X#SV%1/1D#1?%HWVD4M.$TW?D1+V#B8MEC4M-V=RTAA`8N?X)T"/06?9D
MOV:EB7?PQGHE.W7%K*3MG[683[<8P%_"!Z1M6JM50S9E#7D@S:OM6E)3@GB8
MAQ.L6J^U6IC`/GG`@N%<'QWX0CV8A8%XN0]"`@-I@5P`LVNX&Y[U@TX8BFN0
M`>28V//\A7G2VAN,5V'[H'VCAIOI`!NH!B*2CX:M-`246"`$5HVR63.D,K61
MA[4HVZXMAXJ]6<;R5="U_]IE[06M_=S3;5H6-1ZY>*M\\-S6O=JU*-RWV)+:
M35HK(`?2=8MZVMUZU5RZD(=XL(+A-(4`"X(_`H`G@(@4C9L&6@(.0(!\(Z)L
MB!=XD(0&\@.4S<V5Q1=`@]8M<](4N%L="-R]?05"];W`%5>8R)66S16JY5+A
M+5?^_!%Y&-_[+5?`S,-NM-_^A5.8B(<K?31:D8=P'6!Q_81>,$P=V5K39>`W
M[5U:,0?6I6#\9#]RF$_/5==CC,?+.T41[AV>20+!;)!'.`+PS8;?;25Q73NF
MD((.4(#P\UC)2Y@_"@#OQ0]QO8E<.4-]U.!/Y6!2)%<BWN#VXQ!S\`0D3N*M
M)/\&U7AANO#67*&'3X`_*(YB$Z'BFBB'7[`"+=[B;/T$3_!=6K$'<EB+)R9C
M;;`R7$!C#HF'+#[7TX6'7C@ZV\H&$;#6%+2D7S"'J5U@:$42;B.[^1',M)#0
M'[98^>7<SB5D-TY!6?%BM]C?-I[D<?V$=_#B>UAC;=5DV[J+7C#@`Y;=V36'
M7,AB*VME5WYE6(YE69[E60:&7"`'`*X)>X@'<E`56OYE8`YF5_Z$EI1C6GD'
M<O`$5A;F618&9OYE3[AE".80>5CC97YF;,9F3^@%<N!6K>WE`KQ:$=UC%"UB
M6^[@((;D7*EF5A;:^R4&BNKFSNUE_IUD*YOB'^%E8L[_YEAV9GZ.Y6V.AWKX
M)2NF7UR6DE569H4V8X9>:(=N:(A^:&6.:(@VXUS@9E.>YUZ6DD_@:(]>Y8]&
MZ(X&:9(FZ9$^Z8\>:<'`9=E%YF[H:(J6Z)CVA".(`IF^:8I>:7D8Z!_!!W+X
M!2EQZ%4F9J(FYJ$>ZJ).:F)69ESXA*:&:8O.:7+H9-GUZ54&1:R&9ZW.:E#4
M:J_N:J^NY:T>ZZS>9F-N475>YU[.8JXF:[=N:[A^:[DN:VZ&VN+5TD\`!JS>
M:WCF:[WN:\#^:\'V:\(.;*V6DK/F$'LPA\"`Z6B.ZL>.[(1.:#.NZ:=^:J<F
MYJ>6;,@&Z<3N)03^I6HFAVY0_P9EZ(9G*&W45NW4/NW67FW79FW9CFW3AFW;
MQF5RB`=+KHO1QFW?_FW@[@;@'F[B+FYRP-UU+@=<-FWF;F[G?FYE^(5NB`(U
M*&WHOF[G%F[?W>V:F(?1AFWF5NW3'F_R%F_S'F_95FWI_FG9QF5SX.ZZF`=>
M#FI<\`3[OF_[SFRFCFF&OFR&5A7\#O#]OFA<MFNW:"O+1&7C)0=<`'`!?W`(
MCW`)QV]5R05<X.9<KD%ST-)>:'`+EQ(/#W$0'_$/+W$1-W$2/_&+MH;/IN;E
M_@48CW$9G_$9C^YN&`(UL(9?B.X=[W$?YW$:CVYR>&\#?XN"?BMY@`=S6(=W
MV'`F=\[R)B>')Y?R*)]R*Z_R*!_M>"@'<ZCR(9<'^.80?`!S,B]S,S]S-$]S
M-2=S5`9>,(]RXQYN7I8''._M.`?N#0?S-J^'+9]SWQUR+@]T<^!R*0?T03_T
M=3#T<N#E=U#N12?T1)]RW0[SNJ@'ERX&':=Q3=]T3N]T&(]N'==NV9W?MYH'
M7&9Q3T]U54]UW&[SF1AS7!9N%I]U<J!U6Z]U7+]U7<]U7N^&;.@&[=9SV27S
M(7_R#1_T>#AV*E?VW*YS]W[V(7_V*<_S(>]D;XXM+/]U=6W?=F[O=F__=G`/
M`CL`=W(/(&XT=[$D]\X%\SQ_]#Y?AW?O\_>>]VJ6!W-0\CZO=B:'=W=?]&('
M<YY^JUC==C!/]#Y?='Z/=W=/>(0_^'A@^(=W>(BG]`A><XN_>(P'<[%5]U\*
M@C[@>`&,79`?>9(O>9,'=QP_>95?>99O>5)O>9B/>9GG=A[X^)F7VIG/>9W?
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MAWS;CW[$]WWJ[WN/O_ELO_[%GW[N]WOE__[`YX$_N'WQ[_[S]WOK3W^VS_Z[
MWW[VUWOOC_^W#W_ZA_L>*/^[A_[[GWN`B))O(,&"!@\B3*AP(<.&#A]"C"AQ
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M9:`)Z%AP!5+6W2MFQR$X67X-#E8>A(3]-U.`$Q)&'X9U';CA8!I*QZ"'@%4X
M8E@2FEA7B2]=_YAB7>VY"%>',<JE8'TBTLA3/"8LX(XK``#P1RP$`%!&)`#8
MD(\K3M1CT(,YBH4BE'NA)YUZ4]J$CRD$U#`.`82T$@`$9L0R@`>DR,"-"NH<
M1""68&7W)EP@UF2?G#:YDD,M`#AS"P`!]`&.`Y0<\$8'>#3I9)5W.B4EHQ_%
M\\LOY)`C*30#1?K+,^18\TLQD:84SULKNM3BHRSE"0X`A-`"P`%XU**`-/D<
M>0!3E^:S&#OSG.H4?+VNM$D`*N1B"@D$R-!D+0Y@,$`**6"`0"D!4&!.)6\D
MFH^-N.$(;$G<8!``'!Q$@,$.A!Z00SVN4,#!!+ZIH5,00:F!J[='.?]Z+T69
M(+#+K/A0PM9`U33ACI)'M**`"KI@6Y";FUVI;TCAX(++,A3GXDX\O.0B#3[6
MJ'/-+N@0I$80PD1A1Q]`/".Q4#.Z7!'%)U"@#C@JV!N/)$&-\P$SX^`R"@8/
MM$R0,(L"V&W,/=43A=-1#*'=TCOE._5#JRR0CB5J9!N+"K.Z4L-`^#PRP`38
M'IU//225TP<[Z7UGM4U#.&U&U'+;!#/>#F7R9Z`.7-J*#?$L(D<^XUS`S$"E
M4-!(D/E$P4,^\_11CADXQ-V2G7OW1'<44G/^4M6A'Y2M1E&HD<\?Z[!<7\2D
MTQ0$U*##OI+>M;-D!M101W9CYK@;),\]Q5C_D47QQQN?//++7_&)'6]\\LGR
MRE//O!7RR,,K\`>-OCUJ3@]1--S>WT1.]/%5=$\^ZE,4?2[ER$/^0''*WU(?
M3MOQN^9*DV\^,0/=8Q[W@$<`!UA``@H0@084(`,+>,`')A""`03@)X@1/_)U
M;WOSR`8'.^C!#X*0@^1PPA!R08X0HA"%%3$5^:RP/@<V,(8%E*$,[Q%`&LXP
MAS$48#[*T8L+;N]7]4,(,8K1"V(@,8E*7"(3D5B,8C0QBE*$(CDFLKDA/M&&
M#,0A%W5XPWET,8P+S$<OLH%!_@S1(+DHAOX:8D..J&]XQ7A?1%BX/2S``X$[
M]*(8&\C'/W(1'C_T7-[MR/>)<MCPBV!<)",;V4@M.C*2DO0C/+)!C'=`Y(KR
M(T8V(`C&>V0/C*&<QRA+N4AXF%*4BTPE*1\Y#WCDXQ-5W%X&28='+28RE[K<
MI2X%Z$!>`K.7B<R'"3/Y_SKRO4^1!B0@,Y?IS&8V\YG2A.8"%0@/7QZ2D&A,
MXR<(.,-)@O.:X!SG*UV)35@Z1).&[.0`R^G.<@;PFO'<XBMO*,Y%MG.>^H2G
M..\)2UEZKY:<\X0>J6E0:3;0FY\\*#03ZLE[%#.=Q_1>,J_)S`36TZ+EO&@>
M,<K1`6HTI.T4*4<%*$OVX:Z0N)-'-\&HQQO"]).Y7*A+]:G`F/KRFZ=D)`'S
M<04@+D2=WOM$-C#JTHO6U*493>!'-<K`AEITF>Y$X#]_$=!MUN^0"PPE*I<J
MP$Z9L!CN5.8]WR'6=H+Q';U`)#/M(4#AZ=&D0%6('6N'#ZU:U*EY?65'^_E.
MO_^&-*0;W:E@Y0G0(.8DC<0LAULW:D]0UC,<'7#`$E!!@R8%\XW@2(`[AGF/
M<&`!&J#L9V%MF,V&"'5[1%WJ7OO*VCSFM;4;+>QL"]O7>WS"JK3$JOP^H8UX
MCG2D[@R'!83@CEH$P`5OL$8E5-"'<,``!ED@!R]@X`)4!``&6'C&)53PAG?D
M@AUHC>M'#\N0NM8.K[#E*WL#&]4X@K2]?8TM7]W+7I!"U(Q!+(MBWY?'X$8U
MI-4X@0QBD=T4",,:EI#!+0+`@A2XP0(`0(`O"M"$#/3!&J9X`"H2@(Z,@K2D
M)IWE>?F'N[MF([!\#3%L8_N.110@`'^0;VOG&UMFVOC_O[F]*OJ&2H[XKC?(
MY<R'.`C``AJ0HP5OH(0!$F"+!)"#$BJ`@3#8`0X$J",29K#$`1"`B@>@@\5'
MG2UN21S4B:J6K4%NL6VO*=DH[(H@;WPA`.F[9AO#DZC:['&:75O2J-:"2`E`
MQ0*2#`,B(2`6"5C'(IJ``0`4.`'L6,0../`G4B``&G_E:#/-&U03VW6U=K[Q
MG=]A:03PXM$`R$,I_H2+#``)$"/-<7WKJV/=`D^@>//M/(5\8WPJLY&O6`(Y
M,O`'7'HSV2V6[XH]35<T`^^0;)XVM3LJV3OD(QP,D(8C9.`.>URB!0X`1":*
MP.)J5WL>SH:=2F-D#R"BU"#X_Y!'D_"AO81(F\VV7C:Z]5T-"=>@'/N>]L#9
M7.9T]N!MW$QQO_LMV1P40U"[.$0-6@V`"3P`&N4^=\-;C%M<XT[7$XJ'(@!0
MZ%83@B`D1\`Y.`&D-7!`QN!XP*P,(NJ.XWS9<<RYOO7M['>\+1Z4:M(S@%`,
M<C1)5/D0>M!)AX]<:(/GTWX'H1R`BP,<P`'#J$8&'."&T+I"#U+WN7Z!UVX7
MA8,2%/B%*%9%D&IPH`:XBOLB*H"+2BCN(/F6NE''[G<=DQ@?L0"`&<@6``(,
M82A'F```^#".:$G#$@3``>%@1]2_K]>&X&A`F.7Y0,S?FL>,TE(&*""-<10@
MY4NOQ/\HFI"26C!@&::`00LF(+""Y(+A4@]'%N9A#6"4`_12-V\\8E$`/!29
M55A^QA#^0`E`@(,$#D@')3)`!E,@;6JR%#YLP1M\[E?[I(BEW9O"D0%`($[U
M@4[!`-@`#I\-!!P7@,`"2&;S[^^^`,-HA!9>:-1$YI3G%5R_J9N9$8X<^$F?
M;!LT#$$%%(#BP)XT4(PI`$`36%[4Y5'P:2`\;&`'<F`&_IT'BN`'$M".[1:?
MT<@XG``!2(`RG```*$`T3,(R_$(I#,`N:,#%J4$XO`"T>)O>82#?:8("@(`P
M2,(!5,$E:($]5$(N3%8?7(+T]0$Y2$(*/(`P^)VGZ4P>B,/KJB2,.I1#$#2#
M(B3)+3P`FQ".`BR"T^4>"38<Q['9".*?&PY?V:44?]T)/E#*.N!#-U"*.R#=
M0*Q#/KP#I9`#/O`A.9P#0K2AWX$#`1R!/9##*SR`*21`-W@`-)##);!`!N3`
M@G$#D2P`-(Q=`:K<D00)*K*!*>2`'!P``(1!JP!`#I@#)7A!N%B>[GV@!\+#
M.T@"%7S?]_&"%9`B`3J"#;08_LGA!WZ<Z&U/%"R';R7C+E)C!Q*7'KS#"R+`
M,W2``?2`-3R:!&2`']Q"`OA"$G0>;"WC!L*#>;&.,.!#DV3/0`A#^-0;]F2+
MO?_E(C5.6_#YXA2P@\=-`\Y,&S:X`#`,(,YMH/B9'6_!3A`,P;P,1"/.8<==
MXS5(&`(P0Y@P0S40201@6"W$0"B:G#&`8,Z=%@\,P1#82T$0Q2`N'`C*X3NT
M``P8`)#D`2JR0`M4P34,VI\P'@*\(`"00`\<20"\P2(`0`($8S6VF`GF6@^(
MSS,.00_,41"N8S7BEPW!`RW$0$#FTG^5`@U80PKT01PZ)3O*4@\$@1FHP506
M!#3P0!N%SEU%75.R(P?Z(@QHG2;<@`7(036X@`O8P695@PH``W0-PRS40#U$
M@@180``4B@M@`1N50U;J61#Q0)65PSJL0V=^IF>"YFC_BF9IAN9IDB9JFF9J
MLN9JNJ9JPF9KQN9KRF9MTN9MSF9LLD,Y#('=2,%=GF3#5>3W1<(1!.?W54.X
MN)Y3JF-SYM$G]"8TY@,[N"8[",-<*M;E;2!P`B=-6N$P:((-'(($M,"4J0`E
M;",E!``5M,`26`(R.L(-=$`.Y-XOF``";.<'`N<U027NS,,?_$$?!.B`"FB!
M$NB!&FB"(NB"*FB#,NB#.FB$0NB$2FB%4NB%.FB`/LT/`"=>IN4NYF4_4B-3
MR62)\N+]U(TP!&B&*MP0:2<\8&6'O@,H]$(N0,,K]$$UI`!B_D(EI(`3F$(*
M;!<O+`$OG.4T`$,UE&<NP$`*_VP!.P9?$&)@9BH6[J",<KR!-G@H+Z(E<S9E
MM5TF"4;I-)+@)PB#[/0!-,Q5E=I<BN4G"78HF`IGB#9GU&&@EBXDR+'IW@B#
M,/3`&T!#/5R>?A(J/"BID'H"\,$H'7[@)IXE!X9I=V4!_MDI"'(G"5Y!/$!#
M,?``$-A!B^XI03Q=-HSII<9I5J*J4YYJ'DVI'8:JW*AD.2C<BTKI![H"4A:#
M)%2!FL$6-DPJ;&6#2;98)&27<[%8?HXIJ[;C+)6#,.``"E8I47E@G+:8G8YI
M7KXI/U);I59JF/;GJUK-.MQ;++DIH6[@*_Q)$TS"&YA"`3A`'[P"`0S`*R9`
MJQ4`"_\`@R68G#:\@P84`0=.`ZSEP/==:I0NI)F!*KB2ZZ)VJYVBZRQZJ)V^
M`R(@H[+"0R?H0#G8J4$"@U(B`"G0P+02*I4J;.A`7:D6JBL@P##``R4<&I!(
MIA:4PRQ0@#%HP@Q0X00X`/"5PSM8P!'<PXOE`+J*';(N*J::6<D6A';>9;?"
M@RLP`"X4``P\@$EV:,\>`C).0R;F$2?DP%V6PR44J?[U8@<,@[4V[?=]J]+*
MC7;F)YZJ+"E.P@L00!A\E@6(W354K284P8OI+,L&GR(DP#,H91!X9-$NZK5:
MZ[*RK;SEGL9RH+5"KLIB@0'<)`*,`I"$+.1F+3Q8F@.D`)#_V$"4^J(4D,,)
M(,!9(H(61&[K5BK)-J[5/"ZWLF.\`D`$*!<%`H`..`X"Y`(')$`C'`'59<$+
M)H!)8H.EY4"J(4F_-D$'^$'K0FZ8PL,5T.6>7IZ6:F_BEL./#,`45$,.D(,&
M2.82F&3P9>T]5`,(*$,&W($K9*Q>ML`4(-*/`,(BZ$`>I1B>XFD[ZFGL+LV@
M\B^,:BSUHML]S"'U@I0!3V,U9`'#0K"6,BX`#P11;2_::FS<PL,U.$`3+(("
MY`(P_`+PF=H">`(N7``6E-X)V`"2EL,V2,(49(,GJ.?]&N<%0S#L4K#+S&ZI
MHNQV=F"87N;T#O%E@NT00RJDABF>_T)NU%U!TC:N!1,P#I>#-6"!,?1L)2S!
M+Y0G%N3"(94#*)3G&U0"%N!"><(KZ[Z#%G.Q"F3!.T`OPQ;P]J[M#NN+%.,P
M$VMO$VLLVD9P!#<QC/KQ]NXO`4\P`#]=,0AR$VO#]D[Q20JQ!&NK'(/"![!L
M'E4#`T!#(VNOG=ZE#MOQO9SL!<^Q(,OQG4XQ'S>RQ<(6*7OR*4-N]4(QVTJK
M)Z,M)_=Q)^=R)W-R+_=R)1'#'EO2$'MR+OMO*`=P(;_R*B]SSX;`6=YI.5Q#
M$ACL-/QF-5R``WR")QB#*T\Q,_=Q.:P;+6=#+\\Q)S\R.&/P.AMQ.`LR+ONR
M*K>CJR*SMV2L43P7<R.?L\\:)S5<<1[YI!'[(A-XI`Y<P@>PP*3^,CRG<QY9
MKQU;,"/?,CS[<D53M#KO<49_<SS7<3V?2O9*-",O,K]J`!)L0\DM@"0`20P(
M]#-S0J;!`SEH\29'[@4SLSF/_W/))K)%\S0^S_$Y]W10X_,J@[)'/TKN5310
MPW//_BP\3(,5_,+/;I818\,'!(,F9-IE7@((=/-%\W(I/S%$DVI2ZW-&\W)/
MA_-9#[4Y)W5'&_6=U/(YC[59-[+/ZD`V\$(*H+`.N`)3LI$U@$".$D`0=%=S
M=7-::^E8[[*6YG3)6K!00W9DKW5DBS,]OS6C^)9D]S(<%X`"%&\.5`+6+6\2
M&,,VA,`;E$.\/@`4FN]B\W0?R[(=0Y%FTW9M"W5E7[:WS#99GW4N!R/8*JN6
M2D(.8''P;8,+/"EO\W1L[W`\6(%M0W=T-W(V-'9N3XD\>()T0S8U?$)7:\,,
M>[=F$__#(.WP//S"(6EW>D.V"*^I=;^)/#RW>O?T.TMW9;<WV\9#\[BV?*=W
M.8SWC[GWJ>!#,:`W?QLX)_\W,LL#.?2"]1ZX?#</.=QW@$\)ISCX@\NW_TXX
MV\I#-_R"%5R!%00SAFMV.8`X5$LXA??*NX$X?9-X;?NW%?0".M5S3%?*>5M!
MCNOXCO-XC_OXCP-YCDL*I6RXBD/)@G]X9K]X;5N!)RA#BAOUO!GBE%-YE5OY
ME6-YEA>YD5]WI?2"%6!!D(OYF)-YCGO"+V0#E.<V]LA#/*Q#/+"YF\-YFY?#
MG+?YFV./J-BYG,<YGM.YG6\YE[])/0@=I73#,W3#H2<ZHBM.>J,S^J,O>J0[
MNJ1#^J%;`Y$+>J9?=CU@CX3KN3S4.:C#>9W#@YZ3NJG'0ZG7^:FO^JB[NCR4
M.O9H^JS3>JW;^JWC>J[K^J[S>J_[^J\#2'NP"_NP$WNQ&_NQ(WNR*_NR,WNS
M._NS0WNT2_NT4WNU6_NU8WNV:_NV<WNW>_NW@WNXB_NXDWNYF_NYHWNZJ_NZ
MLWN[N_N[PSY[O,O[O--[O=O[O>-[ONO[OO-[O_O[OP-\P`O\P!-\P1O\P2-\
CPBO\PC-\PSO\PT-\Q$O\Q%-\Q5O\Q6-\Q@=K_,;K>D```#L_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
