facebook
Home > Investor Relations > Newsroom > News

Email This Print ThisNews

First Quarter Financial Statement Announcement

BackApr 21, 2003


PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR RESULTS

    1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year

       

-----------
Group
--------
-----------
Company
--------
31/3/2003
$'000
31/3/2002
$'000
Change
%
31/3/2003
$'000
31/3/2002
$'000
Change
%
Turnover
15,942
12,528
27.3
12,336
10,313
19.6
Cost of sales
(10,085)
(7,973)
26.5
(8,720)
(7,018)
24.3
Gross Profit
5,857
4,555
28.6
3,616
3,295
9.7
Other operating income
167
180
(7.2)
168
156
7.7
6,024
4,735
27.2
3,784
3,451
9.7
Selling & distribution expenses
(647)
(467)
38.5
(413)
(335)
23.3
Personnel expenses
(2,005)
(1,611)
24.5
(1,329)
(1,133)
17.3
Exchange gain/(loss)
(4)
1
(500.0)
24
-
100.0
Other general & administration expenses
(1,628)
(1,210)
34.6
(952)
(746)
27.6
Interest expenses
(41)
(42)
(2.4)
(35)
(40)
(12.5)
Interest income
1
-
100.0
-
-
-
Operating profit before taxation
1,700
1,406
20.9
1,079
1,197
(9.9)
Share of associates results
-
5
(100.0)
-
-
-
1,700
1,411
20.5
1,079
1,197
(9.9)
Taxation
(375)
(380)
(1.3)
(230)
(280)
(17.9)
1,325
1,031
28.5
849
917
(7.4)
Minority interests
(16)
13
(223.1)
-
-
-
Net profit attributable to members of the Company
1,309
1,044
25.4
849
917
(7.4)
Depreciation & amortisation included in :
- Cost of sales
31
6
-
-
- General & administration expenses
325
338
190
208
356
344
3.5
190
208
(8.7)
Gross profit margin
36.7%
35.4%
29.3%
31.9%
Net profit margin
8.2%
8.3%
6.9%
8.9%


Explanatory notes:

The increase in personnel expenses of $394K for the Group and $196K for the Company is due to the increase in head count and annual salary increment. In addition, Guangzhou Wan Jiang, which became a subsidiary in the 4th quarter of FY 2002, with personnel expenses amounted to $95K for the 3 months ended 31 March 2003, contributed to the increase.

The increase in selling & distribution and other general administration expenses is in line with the expansion of the Group's operations.


       

    1(b)(i) A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year

       

Group
Group
Company
Company
31/3/2003
$
31/12/2002
$
31/3/2003
$
31/12/2002
$
Share capital and reserves
Share capital
10,305,770
10,297,070
10,305,770
10,297,070
Reserves
18,891,857
17,580,344
15,386,275
14,525,186
29,197,627
27,877,414
25,692,045
24,822,256
Minority interests
364,466
348,564
-
-
29,562,093
28,225,978
25,692,045
24,822,256
Fixed assets
7,434,217
7,818,045
4,448,595
4,468,406
Biological assets
1,364,633
1,371,930
1,364,633
1,371,930
Subsidiaries
-
-
2,679,640
2,679,640
Associates
-
-
28,722
28,722
Quoted equity investments,
at cost
3,820
3,820
-
-
Trademarks/customer acquisition cost, product listing fees
80,249
87,913
68,061
74,193
Land use rights
93,044
212,653
-
-
Advance for investment
500,000
-
500,000
-
Current assets
Stocks
13,253,120
12,876,214
5,132,061
4,438,586
Trade debtors
12,234,078
12,351,805
7,126,297
7,087,826
Other debtors, deposits and prepayments
1,016,442
786,805
293,793
201,108
Due from
- subsidiaries (trade)
-
-
7,685,460
7,181,985
- subsidiaries (non-trade)
-
-
1,755,767
1,927,720
- associates (trade)
452,804
406,452
452,804
406,452
Fixed deposits
101,116
101,116
22,568
22,568
Cash and bank balances
7,322,696
7,719,571
5,179,850
6,251,412
34,380,256
34,241,963
27,648,600
27,517,657
Current liabilities
Trade creditors
5,090,613
5,809,629
3,018,231
3,328,248
Bills payable to bank
3,597,594
3,204,880
3,597,594
3,204,880
Other creditors and accruals
2,600,391
3,218,628
2,145,694
2,435,455
Due to subsidiaries (trade)
-
-
91,988
84,104
Hire purchase creditors,
current portion
348,454
357,549
163,665
163,635
Provision for taxation
1,664,295
1,854,013
1,299,002
1,330,990
13,301,347
14,444,699
10,316,174
10,547,312
Net current assets
21,078,909
19,797,264
17,332,426
16,970,345
Non-current liabilities
Hire purchase creditors, non-current portion
(636,203)
(709,180)
(472,032)
(512,980)
Deferred taxation
(356,576)
(356,467)
(258,000)
(258,000)
29,562,093
28,225,978
25,692,045
24,822,256
Stock turnover (days)
85
88
42
42
Trade debtors turnover (days)
59
62
47
46
Debt Equity Ratio
0.03
0.04
0.02
0.03


Explanatory notes:

The decrease in land use rights is mainly due to disposal of land use rights held by one of our subsidiaries in PRC to a third party. Profit from disposal of land use rights amounted to $9,090.

Advance for investment relates to refundable deposit paid in accordance with the Sales and Purchase Agreement for the proposed acquisition of Kim Kang Aquaculture Sdn Bhd, announced on 20 January 2003.


       

    1(b)(ii) Aggregate amount of group's borrowings and debt securities


      Amount repayable in one year or less, or on demand

      As at 31/3/2003
      As at 31/12/2002
      Secured
      Unsecured
      Secured
      Unsecured
      NIL
      348,454
      NIL
      357,549



      Amount repayable after one year

      As at 31/3/2003
      As at 31/12/2002
      Secured
      Unsecured
      Secured
      Unsecured
      NIL
      636,203
      NIL
      709,180



      Details of any collateral

      Not Applicable

    1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year

       

THE GROUP
1/1/2003 to 31/3/2003
$
1/1/2002 to 31/3/2002
$
Cash flows from operating activities
Profit before taxation and minority interest
1,700,078
1,410,665
Adjustments for:
Depreciation of fixed assets
344,634
296,463
(Gain) Loss on disposal of
- fixed assets
11,753
-
- land use rights
(9,090)
-
Fixed assets written off
4,294
-
Amortisation of
- land use rights
501
2,689
- trademarks/customer acquisition costs, product listing fees
11,111
45,142
Provision for doubtful trade debts
62,055
50,000
Share of profit of associated companies
-
4,593
Interest expense
41,031
42,436
Interest income
(890)
(635)
Net effect of exchange differences
6,390
(44,136)
Operating profit before working capital changes
2,171,867
1,807,217
(Increase) decrease in:
Stocks
(376,906)
(34,374)
Trade debtors
55,672
(503,381)
Other debtors, deposits and prepayments
(229,637)
128,628
Due from
- holding company (non-trade)
-
(550)
- associates (trade)
(46,352)
(484,806)
- associates (non-trade)
-
(155,736)
Increase (decrease) in:
Trade creditors
(719,016)
(527,228)
Bills payable to bank
392,714
(50,135)
Other creditors and accruals
(618,237)
(80,682)
Cash generated from operations
630,105
98,953
Payment of income tax
(564,718)
(11,690)
Interest paid
(41,031)
(42,436)
Net cash generated from operating activities
24,356
44,827
Cash flows from investing activities
Purchase of fixed assets
(223,627)
(636,360)
Proceeds from disposal of
- fixed assets
238,916
-
- land use rights
127,200
-
Advance for investment
(500,000)
-
Payment for trademarks/customer acquisition cost, product listing fees
(3,418)
(4,894)
Net cash used in investing activities
(360,929)
(641,254)
Cash flows from financing activities
Proceeds from issue of new shares
20,880
87,600
Repayment of
- hire purchase creditors
(82,072)
(82,841)
- term loan
-
(49,998)
Interest received
890
635
Net cash used in financing activities
(60,302)
(44,604)
Net decrease in cash and cash equivalents
(396,875)
(641,031)
Cash and cash equivalents at beginning of period
7,820,687
1,335,126
Cash and cash equivalents at end of period
7,423,812
694,095
Cash and cash equivalents comprises :
Fixed deposits
101,116
97,839
Cash and bank balances
7,322,696
1,534,398
Bank overdrafts
-
(938,142)
Cash and cash equivalents at end of period
7,423,812
694,095


       

    1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year

       

THE GROUP
Share
Capital
$
Share premium
$
Revenue reserve
$
Translation reserve
$
Total
$
Balance at 1 Jan 2002
8,276,200
2,083,567
6,607,103
205,170
17,172,040
Currency translation differences
-
-
-
(65,870)
(65,870)
Net profit for the period
-
-
1,043,587
-
1,043,587
Issue of new shares
36,500
51,100
-
-
87,600
Capitalisation of share premium for bonus shares
831,270
(831,270)
-
-
-
Balance at 31 Mar 2002
9,143,970
1,303,397
7,650,690
139,300
18,237,357
Currency translation differences
-
-
-
(70,985)
(70,985)
Net profit for the period
-
-
1,873,464
-
1,873,464
Payment of final dividend
-
-
(376,860)
-
(376,860)
Issue of new shares
1,071,800
3,600,520
-
-
4,672,320
Share issue expenses
-
(302,753)
-
-
(302,753)
Balance at 30 June 2002
10,215,770
4,601,164
9,147,294
68,315
24,032,543
Currency translation differences
-
-
-
33,004
33,004
Net profit for the period
-
-
1,885,557
-
1,885,557
Issue of new shares
2,800
3,920
-
-
6,720
Balance at 30 Sept 2002
10,218,570
4,605,084
11,032,851
101,319
25,957,824
Currency translation differences
-
-
-
(13,561)
(13,561)
Net profit for the period
-
-
1,744,751
-
1,744,751
Issue of new shares
78,500
109,900
-
-
188,400
Balance at 31 Dec 2002
10,297,070
4,714,984
12,777,602
87,758
27,877,414
Currency translation differences
-
-
-
(9,183)
(9,183)
Net profit for the period
-
-
1,308,516
-
1,308,516
Issue of new shares
8,700
12,180
-
-
20,880
Balance at 31 Mar 2003
10,305,770
4,727,164
14,086,118
78,575
29,197,627
THE COMPANY
Share
Capital
$
Share premium
$
Revenue reserve
$
Total
$
Balance at 1 Jan 2002
8,276,200
2,083,567
5,381,485
15,741,252
Net profit for the period
-
-
916,775
916,775
Issue of new shares
36,500
51,100
-
87,600
Capitalisation of share premium for bonus shares
831,270
(831,270)
-
-
Balance at 31 Mar 2002
9,143,970
1,303,397
6,298,260
16,745,627
Net profit for the period
-
-
1,314,552
1,314,522
Payment of final dividend
-
-
(376,860)
(376,860)
Issue of new shares
1,071,800
3,600,520
-
4,672,320
Share issue expenses
-
(302,753)
-
(302,753)
Balance at 30 June 2002
10,215,770
4,601,164
7,235,952
22,052,806
Net profit for the period
-
-
1,214,778
1,214,778
Issue of new shares
2,800
3,920
-
6,720
Balance at 30 Sept 2002
10,218,570
4,605,084
8,450,730
23,274,384
Net profit for the period
-
-
1,359,472
1,359,472
Issue of new shares
78,500
109,900
-
188,400
Balance at 31 Dec 2002
10,297,070
4,714,984
9,810,202
24,822,256
Net profit for the period
-
-
848,909
848,909
Issue of new shares
8,700
12,180
-
20,880
Balance at 31 Mar 2003
10,305,770
4,727,164
10,659,111
25,692,045


       

    1(d)(ii) Details of any changes in the company's share capital arising from rights issue, bonus issue, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares or cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding convertibles as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year

       

Number of shares
$
Share capital
- ordinary shares of $0.10 each
Issued and fully paid
Balance as at 1 January 2003
102,970,700
10,297,070
Issue of new shares
- Exercise of employees' share options
87,000
8,700
Balance as at 31 March 2003
103,057,700
10,305,770


      During the 1st quarter of FY 2003, 87,000 share options were exercised at $0.24 per share pursuant to the terms of the Qian Hu Pre-IPO Share Option Scheme ("Pre-IPO Scheme"). As at 31 March 2003, there were 515,000 unexercised share options issued pursuant to the terms of the Pre-IPO Scheme.

      In addition, there were options granted to subscribe for 1,569,000 unissued ordinary shares of $0.10 each in the Company at an exercise price of $0.59 per share pursuant to the terms of the Qian Hu Post-IPO Share Option Scheme ("Post-IPO Scheme"). As at 31 March 2003, none of these share options were exercised pursuant to the terms of the Post-IPO Scheme.


       

    2. Whether the figures have been audited, or reviewed and in accordance with which standard (e.g. the Singapore Standard on Auditing 910 (Engagements to Review Financial Statements), or an equivalent standard)

       

The figures have not been audited or reviewed by the Group's auditors.


       

    3. Where the figures have been audited or reviewed, the auditors' report (including any qualifications or emphasis of matter)


      Not Applicable

    4. Whether the same accounting policies and methods of computation as in the issuer's most recently audited annual financial statements have been applied

       

There were no changes in accounting policies and methods of computation adopted in the financial statements for the current reporting period as compared to the most recent audited annual financial statements as at 31 December 2002.


       

    5. If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of, the change


      Not Applicable

    6. Earnings per ordinary share of the group for the current period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends

       

31/3/2003
31/3/2002
Earnings per share (EPS)
(based on consolidated profit after taxation and minority interest)
- on weighted average number of shares
1.27 cents
1.24 cents
- on a fully diluted basis
1.26 cents
1.23 cents


      Earnings per ordinary share on existing issued share capital is computed based on the weighted average number of shares in issue during the period of 102,996,100 (31/3/2002: 84,056,916).

      Earnings per ordinary share on a fully diluted basis is computed based on the weighted average number of shares during the period adjusted to assume conversion of all potential dilutive ordinary shares of 103,629,392 (31/3/2002: 84,545,489).


       

    7. Net asset value (for the issuer and group) per ordinary share based on issued share capital of the issuer at the end of the (a) current period reported on and (b) immediately preceding financial year

       

Group
Group
Company
Company
31/3/2003
31/12/2002
31/3/2003
31/12/2002
Net asset value per share based on existing issued share capital as at the respective period
28.68
cents
27.41
cents
24.93
cents
24.11
cents


       

    8. A review of the performance of the group, to the extent necessary for a reasonable understanding of the group's business. The review must discuss any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors. It must also discuss any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on

       


COMMENTARY

Turnover

1st Quarter 2003 vs
1st Quarter 2002
1st Qtr 2003
$'000
1st Qtr 2002
$'000
Increased
$'000
%
Fish
6,307
5,478
829
15.1
Accessories
8,004
5,545
2,459
44.4
Plastics
1,631
1,505
126
8.4
15,942
12,528
3,414


For the 3 months ended 31 March 2003, our ornamental fish activities and distribution of accessories continued to be our core activities, which together accounted for 90% of our total turnover in this quarter. Geographically, our Singapore market continued to be our main market accounting for approximately 50% of our total turnover for the 3 months ended 31 March 2003.

Our turnover increased by $3.4 million or 27.3% from $12.5 million for the quarter ended 31 March 2002 to $15.9 million for the quarter ended 31 March 2003. All activities registered growth in turnover. Turnover for ornamental fish, accessories and plastics business increased by $0.8 million or 15.1%, $2.5 million or 44.4% and $0.1 million or 8.4%, respectively in the 1st quarter of FY 2003 as compared to its corresponding period in FY 2002.

Our subsidiary in Thailand (dealing with fish) and the fish division in Malaysia, both commenced their operations in the 1st quarter of FY 2002, contributed 85% of the increase in our fish turnover in the 1st quarter of FY 2003 as compared to the corresponding period in FY 2002. The increase in sales to local fish retail outlets as well as from the expanding China market accounted for the balance of the increase in fish turnover.

With the steady increase in customer base as a result of market share gained from their domestic market, our Malaysia & Thailand subsidiaries (dealing with accessories) contributed approximately 40% of the increase in turnover of accessories in the 1st quarter of FY 2003 . In addition, Guangzhou Wan Jiang, which became a subsidiary in the 4th quarter of FY 2002, contributed 15% of the increase in accessories turnover in the 1st quarter of FY 2003.

Our conscious effort to increase the accessories export from Singapore to more countries has also accounted for approximately 33% of the increase in sales of accessories this quarter.

Our turnover for plastics are experiencing flat growth due to local market competitiveness. We managed to generate more sales through focusing on selling more high-value items and expanding our distribution channel both locally and to overseas.

On a geographical basis, turnover from Singapore grew by 9% mainly as a result of improved sales of fish & aquarium accessories to local retailers while turnover from overseas grew by 52.5% as a result of both the Singapore and overseas operations' constant effort in expanding our distribution network into overseas untapped markets.


Operating profit before taxation

1st Quarter 2003 vs
1st Quarter 2002
1st Qtr 2003
$'000
1st Qtr 2002
$'000
Increased
(Decreased)
$'000
%
Fish
617
699
(82)
(11.7)
Accessories
1,411
1,001
410
41.0
Plastics
60
56
4
7.1
Unallocated corporate expenses
(388)
(345)
(43)
12.5
1,700
1,411
289


Our operating profit increased by $0.3 million or 20.5% to $1.7 million for the quarter ended 31 March 2003 as compared to $1.4 million for the quarter ended 31 March 2002. Profit after taxation increased by 25.4% from $1 million for the 3 months ended 31 March 2002 to approximately $1.3 million for the 3 months ended 31 March 2003.

During the 1st quarter of FY 2003, our operating profit from ornamental fish dipped notwithstanding the increase in turnover due to reduction in the gross profit margin yielded for certain fish species as compared to its corresponding period in FY 2002. In addition, the lower sales of Dragon Fish (due to shortage in the supply) have affected the profit margin for our fish business.

Our accessories business is the main profit contributor in the 1st quarter of FY 2003. The operating profit from accessories registered growth in the current quarter as a result of the increase in sales volume from both our local and overseas operations. The profit margin from the accessories business remained relatively consistent on a quarter-on-quarter basis.

The flat growth in profitability of our plastics business in the 1st quarter of FY 2003 as compared to the corresponding period in FY 2002 was in line with the minimal increase in its turnover. The business was able to sustain its margins yield and managed to contain its operating costs in spite of the stiff market condition.

Unallocated corporate expenses relate to staff costs and administrative expenses incurred in relation to the overseeing of the Group's operations both locally and overseas. The increase was in line with additional headcount and corporate expenses.


       

    9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results


      Not Applicable

    10. A commentary at the date of the announcement of the competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months


       

The factors affecting our Group, which we have previously announced in our FY 2002 full-year results, are expected to continue to apply in the next quarter. We will announce any material developments that may have an impact on our Group's performance as and when they arise.

Looking at our results in the first quarter of FY 2003, it is envisaged that our Group will remain on track as regards our FY 2003 turnover and profit forecasts announced earlier this year. We will keep shareholders and the investing public promptly updated on the Group's performance, through our quarterly reporting of our performance and our management's emphasis on timely announcements of material developments.




       

    11. Dividend


      (a) Current Financial Period Reported On

      Any dividend declared for the current financial period reported on? None
      (b) Corresponding Period of the Immediately Preceding Financial Year

      Any dividend declared for the corresponding period of the immediately preceding financial year? None

      (c) Date payable

      Not Applicable



      (d) Books closure date

      Not Applicable


    12. If no dividend has been declared/recommended, a statement to that effect


      Not Applicable



PART II - ADDITIONAL INFORMATION REQUIRED FOR FULL YEAR ANNOUNCEMENT
(This part is not applicable to Q1, Q2, Q3 or Half Year Results)


       

    13. Segmented revenue and results for business or geographical segments (of the group) in the form presented in the issuer's most recently audited annual financial statements, with comparative information for the immediately preceding year

       


SEGMENT INFORMATION

(i) BUSINESS SEGMENTS (The Group)

31/3/2003
Fish
$'000
Accessories
$'000
Plastics
$'000
Eliminations
$'000
Total
$'000
TURNOVER
External sales
6,307
8,004
1,631
-
15,942
Inter-segment sales
570
3,815
285
(4,670)
-
Total sales
6,877
11,819
1,916
(4,670)
15,942
RESULTS
Segment results
622
1,445
61
(26)
2,102
Unallocated expenses
(362)
1,740
Financial expenses - net
(40)
Share of profit of associated company
-
Taxation
(375)
Minority interests
(16)
Net profit for the period
1,309
Net profit margin
9.9%
18.1%
3.7%
8.2%
ASSETS & LIABILITIES
Assets
13,256
22,960
4,637
-
40,853
Investment in associated company
-
Unallocated assets
3,003
Total assets
43,856
Liabilities
4,052
7,450
1,085
-
12,587
Unallocated liabilities
1,707
Total liabilities
14,294
OTHER INFORMATION
Capital expenditure
138
67
19
-
224
Depreciation and amortisation
157
123
135
-
415
Other non-cash expenses (income)
60
(10)
19
-
69


 

31/3/2002
Fish
$'000
Accessories
$'000
Plastics
$'000
Eliminations
$'000
Total
$'000
TURNOVER
External sales
5,478
5,545
1,505
-
12,528
Inter-segment sales
260
1,503
261
(2,024)
-
Total sales
5,738
7,048
1,766
(2,024)
12,528
RESULTS
Segment results
702
1,016
55
(39)
1,734
Unallocated expenses
(286)
1,448
Financial expenses - net
(42)
Share of profit of associated companies
5
Taxation
(380)
Minority interest
13
Net profit for the period
1,044
Net profit margin
12.8%
18.3%
3.7%
8.3%
ASSETS & LIABILITIES
Assets
11,225
11,798
5,258
-
28,281
Investment in associated companies
320
Unallocated assets
113
Total assets
28,714
Liabilities
2,587
3,198
1,554
-
7,339
Unallocated liabilities
3,088
Total liabilities
10,427
OTHER INFORMATION
Capital expenditure
511
137
104
-
752
Depreciation and amortisation
142
119
83
-
344
Other non-cash expenses (income)
50
-
-
-
50



(ii) GEOGRAPHICAL SEGMENTS (The Group)

Turnover
Turnover
Assets
Assets
Capital expenditure
Capital expenditure
31/3/2003
$'000
31/3/2002
$'000
31/3/2003
$'000
31/3/2002
$'000
31/3/2003
$'000
31/3/2002
$'000
Singapore
7,911
7,261
27,913
21,679
166
259
Other Asian countries
6,313
3,952
15,943
7,035
58
493
Europe
1,233
986
-
-
-
-
Others
485
329
-
-
-
-
Total
15,942
12,528
43,856
28,714
224
752


 


       

    14. In the review of performance, the factors leading to any material changes in contributions to turnover and earnings by the business or geographical segments


      Nat Applicable

    15. A breakdown of sales

       

TURNOVER
Fish
$'000
Accessories
$'000
Plastics
$'000
Total
$'000
31/3/2003
Singapore
(including domestic sales & sales to Singapore)
3,062
3,222
1,627
7,911
Overseas
(including export to & sales in overseas)
3,245
4,782
4
8,031
Total sales
6,307
8,004
1,631
15,942
31/3/2002
Singapore
2,793
2,977
1,491
7,261
Overseas
2,685
2,568
14
5,267
Total sales
5,478
5,545
1,505
12,528


 


       

    16. A breakdown of the total annual dividend (in dollar value) for the issuer's latest full year and its previous full year


      Total Annual Dividend (Refer to Para 16 of Appendix 7.2 for the required details)

      Latest Full Year ()
      Previous Full Year ()
      Ordinary
      0
      0
      Preference
      0
      0
      Total:
      0
      0


       


       

BY ORDER OF THE BOARD

Kenny Yap Kim Lee
Executive Chairman and Managing Director
21/04/2003