<SEC-DOCUMENT>0001144204-16-128664.txt : 20170118
<SEC-HEADER>0001144204-16-128664.hdr.sgml : 20170118
<ACCEPTANCE-DATETIME>20161020060645
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-16-128664
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20161020

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Actions Semiconductor Co., Ltd.
		CENTRAL INDEX KEY:			0001342068
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		NO.1, KE JI SI ROAD,
		STREET 2:		HI-TECH ZONE
		CITY:			ZHUHAI, GUANGDONG
		STATE:			F4
		ZIP:			519085
		BUSINESS PHONE:		(86-756) 339-2353

	MAIL ADDRESS:	
		STREET 1:		NO.1, KE JI SI ROAD,
		STREET 2:		HI-TECH ZONE
		CITY:			ZHUHAI, GUANGDONG
		STATE:			F4
		ZIP:			519085
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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    <TD NOWRAP STYLE="width: 32%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">RESIDENT
    PARTNERS:<BR>
    JOELLE S. L. LAU<BR> CHIANG LING LI<BR> GRAHAM LIM<BR> BENJAMIN MCQUHAE<BR> SCOTT PETERMAN<BR> MICHELLE TAYLOR<BR> ROBERT
    THOMSON<BR> <BR> REGISTERED FOREIGN LAWYERS:<BR> HAIFENG HUANG (New York, USA)<BR> CHRISTINE KIM (New York, USA)<BR> JULIAN
    LIN (California, USA)<BR> MARIA PEDERSEN (New York and District of Columbia, USA)</FONT></TD><TD NOWRAP STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 34%; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: middle"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 12pt">JONES
DAY</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&#30526;&#36948;&#22283;&#38555;&#27861;&#24459;&#20107;&#21209;&#25152;<BR> SOLICITORS AND INTERNATIONAL LAWYERS<BR> 31ST FLOOR, EDINBURGH TOWER, THE LANDMARK<BR> 15 QUEEN&rsquo;S ROAD CENTRAL, HONG KONG<BR> &#39321;&#28207;&#30343;&#21518;&#22823;&#36947;&#20013;&#21313;&#20116;&#34399;&#32622;&#22320;&#24291;&#22580;&#20844;&#29237;&#22823;&#24264;&#19977;&#21313;&#19968;&#27155;</P></TD><TD NOWRAP STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: middle">TELEPHONE: (852) 2526-6895<BR> FACSIMILE : (852) 2868-5871</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">October 20, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">David L. Orlic, Special Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Office of Mergers &amp; Acquisitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.5in"></TD><TD NOWRAP STYLE="width: 0.5in; text-align: left"><B>RE:</B></TD><TD STYLE="text-align: justify"><B>Actions Semiconductor Co., Ltd</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 1in"><B>Amendment No. 1 to Schedule
13E-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 1in"><B>Filed October 5, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 1in"><B>File No. 005-81375</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Dear Mr. Orlic,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">On behalf of Actions Semiconductor
Co., Ltd, a company organized under the laws of the Cayman Islands (the &ldquo;<B><I>Company</I></B>&rdquo;), we have set forth
below responses to the comments of the staff (the &ldquo;<B><I>Staff</I></B>&rdquo;) of the Securities and Exchange Commission
(the &ldquo;<B><I>Commission</I></B>&rdquo;) contained in its letter of October 11, 2016 with respect to the Amendment No. 1 to
Schedule 13E-3, File No. 005-81375 (the &ldquo;<B><I>Schedule 13E-3/A</I></B>&rdquo;) filed on October 5, 2016 by the Company and
the other filing persons named therein. For your convenience, the Staff&rsquo;s comments are repeated below in bold and italics,
followed in each case by the responses of the filing persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">Please note that all references
to page numbers in the responses are references to the page numbers in Amendment No. 2 to the Schedule 13E-3 (the &ldquo;<B><I>Second
Amendment</I></B>&rdquo;) or the revised preliminary proxy statement attached as Exhibit (a)-(1) thereto (the &ldquo;<B><I>Revised
Proxy Statement</I></B>&rdquo;), as the case may be, filed concurrently with the submission of this letter in response to the Staff&rsquo;s
comments. In addition, a marked copy of the Second Amendment and the Revised Proxy Statement indicating changes against the Schedule
13E-3/A and the preliminary proxy statement (the &ldquo;<B><I>Proxy Statement</I></B>&rdquo;) attached as Exhibit (a)-(1) thereto,
respectively, are being provided separately to the Staff via email. Capitalized terms not defined in this letter shall have the
same meanings assigned to such terms in the Second Amendment and the Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">We represent the special committee
of the board of directors of the Company (the &ldquo;<B><I>Special Committee</I></B>&rdquo;). To the extent any response relates
to information concerning Supernova Investment Ltd. (&ldquo;<B><I>Parent</I></B>&rdquo;), Starman Limited (the &ldquo;<B><I>Merger
Sub</I></B>&rdquo;), and any of the other members of the Buyer Group, such response is included in this letter based on information
provided to the Special Committee and us by such other persons or their respective representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">Concurrently with the submission
of this letter, the Company is filing via EDGAR the Second Amendment and the Revised Proxy Statement, each of which has been amended
in response to the Staff&rsquo;s comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><B><U>Reasons for the Merger and Recommendation
of the Special Committee, page 30</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>1.</I></B></TD><TD STYLE="text-align: justify"><B><I>We note your response to prior comment 5. Disclosure
continues to omit a representation that the &#9;merger is substantively and procedurally fair to shareholders unaffiliated with
the Company. See Item &#9;1014(a) of Regulation M-A. Please revise</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In response to the Staff&rsquo;s
comment, the Proxy Statement has been revised. Please refer to the updated disclosure on pages 9, 30, 31, 32, 35 and 37 of the
Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>2.</I></B></TD><TD STYLE="text-align: justify"><B><I>We note your response to prior comment 6 and reissue
the comment. Please revise to disclose the extent to which the Board&rsquo;s fairness determination was based on historical market
prices. We do not believe that an analysis based on the 30 days prior to the announcement of the transaction addresses this factor.
See Instruction 2(ii) to Item 1014 of Regulation M-A. If this factor was not considered, or was considered but not deemed relevant
in the context of this transaction, this decision may be material to security holders&rsquo; understanding of the transaction.
See SEC Release No. 34-17719 (April 13, 1981), Questions 20 and 21. This comment also applies to the Buyer Group&rsquo;s fairness
determination.</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In response to the Staff&rsquo;s
comment, we respectfully submit that the Board and the Special Committee had carefully considered the historical market price analyses
in the presentations by Houlihan Lokey, the financial advisor, which included a comparison of the Buyer Group&rsquo;s initial and
final offer prices of $2.00 and $2.20 per ADS against the volume weighted average price of the Company&rsquo;s ADSs 30 days, 60
days, 90 days, 180 days and 52 weeks prior to the date of the going private announcement, respectively. In addition, the Board
and the Special Committee also considered the historical market prices of our ADSs in the last two years, although they had to
give regard to the current financial outlook of the Company. The Buyer Group, being comprised of existing shareholders of the Company
who have stayed current on our ADS market prices and trends, made similar considerations in their fairness determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in">Accordingly, the Proxy Statement
has been revised to reflect additional disclosure of the price premiums with respect to 90 and 180 days prior to the date of the
going private announcement. Please refer to the updated disclosure on pages 31, 34 and 36 of the Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>3.</I></B></TD><TD STYLE="text-align: justify"><B><I>We note your response to prior comment 7. We
continue to believe that clarification is necessary regarding how the Board considered as a material factor indicating fairness
of the merger that there was a &ldquo;lack of interested bidders&rdquo; and that there could potentially be a superior proposal
that could be attractive to Parent. Disclosure on the very same page indicates that the Board considered as an element of fairness
that it was questionable whether any third party could complete an alternative transaction. These two factors appear to contradict
each other. Please revise.</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In response to the Staff&rsquo;s comment,
we respectfully submit that the fact that it is unlikely that any transaction with a third party could be completed and that there
was a lack of interested bidder since the announcement of the proposals were drawbacks among the substantive factors that the Board
and the Special Committee considered in their fairness determination. We have revised the Proxy Statement to emphasize that these
are potentially negative factors concerning the merger because, given the Buyer Group&rsquo;s beneficial ownership of approximately
66.0% of the Company&rsquo;s issued and outstanding share capital, the adoption of the proposals is practically assured. The Special
Committee had weighed these drawbacks against other positive factors listed including, but not limited to, financial analysis reviewed
by the independent financial advisor, extensive negotiations with the Buyer Group to achieve the highest price that the Buyer Group
would agree to pay and the ability to pursue an alternative transaction without any termination fee to be paid by the Company to
the Buyer Group, should there be a superior proposal with a price that could have convinced members of the Buyer Group to change
their stance on not selling their shares to a third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">Accordingly,
the Proxy Statement has been revised. Please refer to the updated disclosure on pages 31, 32 and 33 of the Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>4.</I></B></TD><TD STYLE="text-align: justify"><B><I>We note your response to prior comment 10. Please
include specific disclosure regarding how the $2.30 per ADS paid in the 2015 tender offer, as described under the caption &ldquo;Transactions
in the Shares and ADSs,&rdquo; was considered by the Board in making its fairness determination.</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In response to the Staff&rsquo;s
comment, we respectfully submit that the Board and the Special Committee specifically considered the purchase price of $2.30 per
ADS paid in the 2015 tender offer in the context of the Company&rsquo;s financial outlook and results then and now. In particular,
they noted that the Company&rsquo;s financial situation was better in 2015 and that its financials have seen a continued deteriorating
trend this year with little improvement in its financial outlook for the near future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">Accordingly, the Proxy Statement
has been revised. Please refer to the revised disclosure on page 34 of the Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><B><U>Position of the Buyer Group as to the Fairness
of the Merger, page 35</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B><I>5.</I></B></TD><TD><B><I>We note your response to prior comment 14. Please revise your disclosure to further clarify how the Company&rsquo;s ability
to terminate the merger agreement in order to accept a Superior Proposal is an element of fairness considered by the Buyer Group,
given the expressed unwillingness of the Buyer Group to sell to a competing bidder. </I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">The Buyer Group respectfully
submits to the Staff that, while a Superior Proposal seems to be &ldquo;unlikely,&rdquo; a Superior Proposal is not &ldquo;impossible&rdquo;
for two reasons. First, the merger agreement gives the Board not only the right to consider unsolicited &ldquo;Superior Proposals&rdquo;
but also the right to take active actions to solicit &ldquo;Superior Proposals.&rdquo; Although the chance of a third party making
a competing offer is significantly reduced due to the Buyer Group&rsquo;s expressed unwillingness to sell, this is partly counterbalanced
by the Board&rsquo;s ability to actively market the Company (albeit on the condition that any competing offer will be subject to
the Buyer Group&rsquo;s de facto veto right). Second, the Buyer Group is not a single entity: it is a group of individual shareholders
who have agreed to work together in good faith for a common purpose. If some members of the Buyer Group desire to switch from the
&ldquo;buy&rdquo; side to the &ldquo;sell&rdquo; side, all member of the Buyer Group will likely discuss and re-evaluate the situation.
For these reasons, it is not &ldquo;impossible&rdquo; for the Buyer Group to decide not to exercise its veto right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">Accordingly, the Proxy Statement
has been revised. Please refer to the revised disclosure on page 36 of the Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><B><U>Opinion of the Independent Committee&rsquo;s
Financial Advisor, page 38</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B><I>6.</I></B></TD><TD><B><I>We note the response to prior comment 16. The staff takes the position that disclaimers of responsibility for disclosure
are inappropriate. Please revise to eliminate the specific disclaimer of responsibility here and in the opinion itself. We do not
object to the remainder of the disclosure regarding the lack of independent verification etc.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -22.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In response to the Staff&rsquo;s comment, the Proxy
Statement and the opinion itself have been revised to eliminate the specific disclaimer of responsibility. Please refer to the
updated disclosure on page 39 and page B-2 of the Revised Proxy Statement.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -22.5pt"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><B><I>7.</I></B></TD><TD><B><I>We note the response to prior comment 17. You have elected to retain disclosure that Houlihan Lokey&rsquo;s opinion should
not be construed as creating any fiduciary duty on Houlihan Lokey&rsquo;s part to your investors. Under this circumstance, we believe
that you should add an explanation that clarifies: </I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -22.5pt"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><B><I>the basis for Houlihan Lokey&rsquo;s belief
that shareholders cannot rely on Houlihan Lokey&rsquo;s opinion, including (but not limited to) whether Houlihan Lokey intends
to assert the substance of the disclaimer as a defense to shareholder claims that might be brought against Houlihan Lokey under
applicable local law;</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: left"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><B><I>whether the governing local law has addressed the availability of such a defense to Houlihan Lokey in connection with
any such shareholder claim; if not, a statement must be added that the issue necessarily would have to be resolved by a court of
competent jurisdiction; and</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: left"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><B><I>that the availability or non-availability of such a defense will have no effect on the rights and responsibilities of
the board of directors under governing local law, or the rights and responsibilities of the board or Houlihan Lokey under the federal
securities laws. </I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In response to the Staff&rsquo;s
comment, the Proxy Statement has been revised to clarify the enumerated issues. Please refer to the updated disclosure on page
40 of the Revised Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">* * * * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Please note that attached hereto as <U>Exhibit A</U>
is the written acknowledgement by each of the Company, Parent, and the other members of the Buyer Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">The Company appreciates the
Staff&rsquo;s attention to the review of the filing. Should you have any questions relating to the foregoing or wish to discuss
any aspect of the proposed merger or the Company&rsquo;s filings, please contact the undersigned by phone at +852 3189 7282 or
by email at julian.lin@jonesday.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 75%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Julian Lin</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Julian Lin</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jones Day</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.65pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #333333"><B><U>EXHIBIT
A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: center; background-color: white; color: #333333">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white; color: #333333"><B>ACKNOWLEDGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; background-color: white; color: #333333">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; text-indent: 0.5in">In
response to the comments of the staff (the &ldquo;<B><I>Staff</I></B>&rdquo;) of the Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;)
contained in its letter dated October 11, 2016 with respect to the Amendment No. 1 to Schedule 13E-3, File No. 005-81375 (&ldquo;<B><I>Sch
13E-3/A</I></B>&rdquo;), filed on October 5, 2016 by the Company and the other filing persons named therein, the undersigned hereby
acknowledges that in connection with Amendment No. 2 to Schedule 13E-3 filed concurrently with the submission of this response,
as well as any subsequent amendment thereto filed with the Commission:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.9pt 0pt 28.35pt; text-indent: 30.55pt; background-color: white; color: #333333">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #333333; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: #333333">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">the
filing person is responsible for the adequacy and accuracy of the disclosure in the filings;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.9pt 0pt 28.35pt; text-indent: 30.55pt; background-color: white; color: #333333">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #333333; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: #333333">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">Staff
comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect
to the filings; and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.9pt 0pt 28.35pt; text-indent: 30.55pt; background-color: white; color: #333333">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #333333; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: #333333">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">the filing
person may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal
securities laws of the United States.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.9pt 0pt 28.35pt; text-indent: 30.55pt; background-color: white; color: #333333">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; background-color: white; color: #333333">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #333333">Dated as of </FONT><FONT STYLE="font-size: 10pt">October 20, 2016</FONT></TD>
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; color: #333333"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; color: #333333"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; color: #333333"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; color: #333333"><B>Actions Semiconductor Co. Ltd</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt; width: 8%"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt; width: 38%"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Yu-Hsin, LIN</FONT></TD>
    <TD STYLE="width: 8%; padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Yu-Hsin (Casper), Lin</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Chairman of the Special&nbsp;Committee</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: 0.5in; background-color: white; color: #333333">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Supernova Investment Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="width: 38%; border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Hsuan-Wen, CHEN</FONT></TD>
    <TD STYLE="width: 8%; padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Hsuan-Wen (Niccolo), Chen </FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Starman Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Hsuan-Wen, CHEN</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Hsuan-Wen (Niccolo), Chen </FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">&nbsp;<B>Surrey Glory Investments Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Yung Sen, CHANG</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Yung Sen, Chang</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Tongtong Investment Holding Co., Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Yung-Chin, LEE</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Yung-Chin, Lee</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Perfectech Int&rsquo;l Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Lewis Chi-Tak, LO</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Lewis Chi-Tak, Lo</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Allpremier Investment Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; width: 46%">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt; width: 8%"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt; width: 38%"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Yingna, MA</FONT></TD>
    <TD STYLE="padding-left: 28.35pt; width: 8%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Yingna, MA</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Octovest International Holding Co., Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ I-Ming, PAN</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: I-Ming, Pan (aka Robin Pan)</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Ventus Corporation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Hsin, TANG</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Hsin, Tang</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Middlesex Holdings Corporation Inc</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Yung-Chieh, LIN</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Yung-Chieh, Lin</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Rich Dragon Consultants Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Jr-Neng, CHANG</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Jr-Neng, Chang</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Nutronics Technology Corporation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Fu Chi, LEE</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Fu Chi, Lee</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Uniglobe Securities Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Chun Mei CHEN De Chang</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Chun Mei Chen De Chang</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>New Essential Holdings Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Sui Gin, CHANG</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Sui Gin, Chang</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Embona Holdings (Malaysia) Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Chia-Wen, YEH</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Chia-Wen, Yeh</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Suffolk Dragon Ventures Ltd</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; width: 46%">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt; width: 8%"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt; width: 38%"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Shu-Lin, CHEN</FONT></TD>
    <TD STYLE="padding-left: 28.35pt; width: 8%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Shu-Lin, Chen</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333"><B>Top Best Development Limited</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt; color: #333333">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">/s/ Li-Li, YEH HSU</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Name: Li-Li, Yeh Hsu</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt; text-indent: 220.3pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD STYLE="padding-left: 28.35pt"><FONT STYLE="font-size: 10pt; color: #333333">Title: Sole Director</FONT></TD>
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 28.35pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 28.35pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify; text-indent: 0.5in; background-color: white; color: #333333">&nbsp;</P>

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