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2.02.2011 After AC meeting UE E&C LTD. (Company Registration No.

201005048D) Unaudited Second Quarter Financial Statement Announcement

Draft Draft DRAFT

PART I INFORMATION REQUIRED FOR ANNOUNCEMENT OF SECOND QUARTER AND HALF YEAR RESULTS 1(a)(i) Income Statement for the second quarter ended:

Note

Group 3 months ended 30/06/2012 30/06/2013 1 (Restated) $000 $000 Change % 12 75 6 months ended 30/06/2012 30/06/2013 1 (Restated) $000 $000 192,872 (156,900) 35,972 154,662 (130,172) 24,490

Cha

Revenue Cost of sales Gross profit Other items of income Interest income Other income Other items of expense Distribution expenses Administrative expenses Finance costs Other expenses Operating profit Share of results of associates and joint ventures Profit before tax Income tax expense Profit net of tax Profit attributable to: Owners of the Company Non-controlling interests

105,242 (78,745) 26,497

93,575 (78,471) 15,104

3 4

1,682 1,323

957 460

76 188

2,903 2,880

1,882 684

5 6 7 8

(1,965) (3,143) (178) (1,192) 23,024

(2,087) (3,465) (249) (2,366) 8,354

(6) (9) (29) (50) 176

(4,002) (6,448) (384) (1,859) 29,062

(4,030) (6,666) (572) (2,580) 13,208

( (

(161) 22,863 (3,119) 19,744

414 8,768 (1,651) 7,117

NM 161 89 177

724 29,786 (5,064) 24,722

1,010 14,218 (2,728) 11,490

10

11

19,667 77 19,744

6,771 346 7,117

190 (78) 177

24,441 281 24,722

10,968 522 11,490

NM : Not meaningful
1

The Q2 2012 and H1 2012 comparative figures have been restated to take into account the retrospective adjustments arising from the acquisition of a subsidiary under common control. The Group applied the pooling of interests method of accounting for the business combination of an entity under common control. The Q2 2012 and H1 2012 comparative figures reflect the results and cash flows of the Group as if the subsidiary had always been combined since the date the subsidiary had come under common control.

1(a)(ii) Statement of Comprehensive Income:

Group 3 months ended 6 months ended 30/06/2012 30/06/201 30/06/2013 30/06/2013 (Restated) (Restate $000 $000 $000 $00 Profit net of tax Other comprehensive income: Net effect of exchange differences arising from translation of financial statements of foreign operations Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Owners of the Company Non-controlling interests 19,744 7,117 24,722

11,490

30

(15)

107

(78

30

(15)

107

(78

19,774

7,102

24,829

11,412

19,690 84 19,774

6,820 282 7,102

24,541 288 24,829

10,944 468

11,412

1(a)(iii) Note to Income Statement:

Group 3 months ended 6 months ended 30/06/2012 30/06/2012 30/06/2013 30/06/2013 (Restated) (Restated) $000 $000 $000 $000 Revenue comprises: Construction M&E Engineering Building Materials and Equipment Gross revenue Less : Inter-segment sales Net revenue

75,989 29,725 7,770 113,484 (8,242) 105,242

72,582 14,888 7,681 95,151 (1,576) 93,575

153,488 35,601 13,988 203,077 (10,205) 192,872

124,246 20,591 13,919

158,756 (4,094) 154,662

1(a)(iv)Other information:

Group 3 months ended 6 months ended 30/06/2012 30/06/2012 30/06/2013 30/06/2013 (Restated) (Restated) $000 $000 $000 $000 Allowance for doubtful trade receivables Write back of allowance for doubtful trade receivables Allowance for doubtful other receivables Write back of allowance for doubtful other receivables Write back of allowance for inventory obsolescence Amortisation of receivables and payables Depreciation of property, plant and equipment Foreign exchange gain/(loss), net Gain/(Loss) on disposal of property, plant and equipment Gain/(Loss) on fair value adjustment on held-for-trading investments Gain on disposal of held-for-trading investments (108) 51 (17) 22 19 64 (2,575) 201 172 160 507 (305) (51) 42 (2,262) (38) (15) (897) (301) 165 (17) 22 19 164 (5,075) 540 189 1,515 507 (305) 90 (51) 42 (4,395) (62) (15) (118)

1(b)(i) Statements of Financial Position: Note 30/06/2013 $000 Assets Non-current assets Property, plant and equipment Investment properties Goodwill Investments in subsidiaries Investments in associates Investments in joint ventures Trade and other receivables Total non-current assets Current assets Inventories Income tax receivable Trade and other receivables Other investments Gross amount due from customers for contract work Prepayments Properties held for sale Cash and bank balances Total current assets Total assets Equity and liabilities Equity Share capital Retained earnings Other reserves Equity, attributable to owners of the Company Non-controlling interests Total equity Non-current liabilities Deferred tax liabilities Trade and other payables Borrowings Finance leases Total non-current liabilities Current liabilities Income tax payable Trade and other payables Borrowings Finance leases Gross amount due to customers for contract work Total current liabilities Total liabilities Total equity and liabilities Group 31/12/2012 $000 Company 31/12/2012 30/06/2013 $000 $000

1 2

3a 3b 4

50,915 5,353 229 11,036 310 122,666 190,509

49,041 5,265 229 15,013 308 108,239 178,095

23 130,203 13,491 143,717

29 130,203 13,823 144,055

5 6 7 8 9

1,218 421 157,476 260 21,237 512 206 96,192 277,522 468,031

2,006 329 150,115 7,427 18,739 367 204 105,708 284,895 462,990

1,809 22 12,424 14,255 157,972

1,226 26 18,380 19,632 163,687

138,774 130,112 (60,337) 208,549 2,141 210,690

138,774 119,171 (60,437) 197,508 1,853 199,361

138,774 18,054 156,828 156,828

138,774 22,240 161,014 161,014

10 12

3,485 7,735 2,148 1,171 14,539

3,480 9,555 2,127 296 15,458

11 12

9,638 196,204 13,497 1,399 22,064 242,802 257,341 468,031

10,549 198,029 12,330 732 26,531 248,171 263,629 462,990

1,144 1,144 1,144 157,972

2,673 2,673 2,673 163,687

13

1(b)(ii) Aggregate amount of Groups borrowings and debt securities: (a) Amount repayable in one year or less, or on demand As at 30/06/2013 $000 $000 Secured Unsecured 1,467 13,429 (b) Amount repayable after one year As at 30/06/2013 $000 $000 Secured Unsecured 3,319 Details of any collaterals As at 31/12/2012 $000 $000 Secured Unsecured 1,512 11,550

As at 31/12/2012 $000 $000 Secured Unsecured 2,423

(c)

A term loan facility of a subsidiary is secured by a first party registered charge as well as assignment of rental proceeds in respect of its investment property. Bank borrowings of a subsidiary are secured by a fixed and floating charge over the assets of that subsidiary. Finance leases of subsidiaries are secured by a fixed and floating charge over the assets of respective subsidiaries.

1(c) Statement of Cash Flows: Group 3 months ended 30/06/2012 30/06/2013 (Restated) $000 $000 Cash flows from operating activities Profit before tax Adjustments: Allowance for doubtful trade receivables Write back of allowance for doubtful trade receivables Allowance for doubtful other receivables Write back of allowance for doubtful other receivables Write back of allowance for inventory obsolescence Amortisation of receivables and payables Depreciation of property, plant and equipment Dividend income from investment securities (Gain)/Loss on disposal of property, plant and equipment (Gain)/Loss on fair value adjustment on held-for-trading investments Gain on disposal of held-for-trading investments Finance costs Interest income Share of results of associates and joint ventures Operating cash flows before changes in working capital Decrease in inventories (Increase)/Decrease in gross amount due from customers for contract work (Decrease)/Increase in gross amount due to customers for contract work Decrease/(Increase) in trade and other receivables and prepayments Increase/(Decrease) in trade and other payables and provisions 22,863 8,768 6 months ended 30/06/2012 30/06/2013 (Restated) $000 $000 29,786 14,218

1 2 3 4

108 (51) 17 (22) (19) (64) 2,575 (2)

305 51 (42) 2,262 15 897 249 (957) (414)

301 (165) 17 (22) (19) (164) 5,075 (2) (189) (1,515) (507) 384 (2,903) (724)

305 (90) 51 (42) 4,395 15 118 572 (1,882) (1,010)

6 7 8 9 10 11

(172) (160) (507) 178 (1,682) 161

23,223 496 (12,270) (5,330) 12 13 7,747 2,485

11,134 245 721 1,472 (18,249) 10,767

29,353 813 (3,376) (4,470) 8,236 (3,828)

16,650 2,036 (923) 9,458 1,502 (4,476)

Cash flows from operations Interest received Interest paid Income tax paid Net cash flows from operating activities

14

16,351 (557) 350 (5,376) 10,768

6,090 113 (264) (3,518) 2,421

26,728 (502) 138 (6,031) 20,333

24,247 189 (590) (4,585) 19,261

1(c) Statement of Cash Flows (continued): Group 3 months ended 30/06/2012 30/06/2013 (Restated) $000 $000 Cash flows from investing activities Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment Proceeds from disposal of held-for-trading investments Dividends received from an associate Dividends received from investment securities Investment in an associate Loans to associates Repayment of loans from associates Loans to a joint venture Net cash flows from/(used in) investing activities Cash flows from financing activities Dividends paid Contribution from non-controlling interests (Repayment of)/Proceeds from trust receipts and bills payable Repayment of obligations under finance leases Proceeds from bank loan Repayment of bank loans Decrease in revolving bank loans Net cash flows used in financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of period Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at the end of period

6 months ended 30/06/201 30/06/2013 (Restated $00 $000

15 16 17

(2,891) 191 9,189 2 (6,659) 1,554 (241)

(4,016) 1,438 (653) (1,259)

(4,552) 413 9,189 5,000 2 (300) (27,884) 1,800 (475)

(7,735

1,438

18 19 20 21

(1,299 (3,682

1,145

(4,490)

(16,807)

(11,278

22

(13,500) (95) (393) 56 (55) (13,987) (2,074) 92,718 32

(16,200) 1,713 (95) (1,657) (16,239) (18,308) 136,783 (43)

(13,500) (2,516) (673) 56 (155) (16,788) (13,262) 103,918 20

(16,200 150

23 24 25 26

839 (263 (100 (2,042

(17,616

(9,633

128,111

(46

90,676

118,432

90,676

118,432

Cash and cash equivalents comprise: Group 30/06/2012 30/06/2013 (Restated) $000 $000 Cash and bank balances Bank overdrafts Cash and cash equivalents 96,192 (5,516) 90,676 122,926 (4,494) 118,432

(d)(i) Statements of Changes in Equity:


Attributable to owners of the Company Equity attributable to owners of the Company $000 197,508 4,774

Group At 1 January 2013 Profit net of tax Other comprehensive income

Share capital $000 138,774

Retained earnings $000 119,171 4,774

Other reserves $000 (60,437)

Total reserves $000 58,734 4,774

Noncontrolling interests $000 1,853 204

Total equity $000

199,36

4,97

Net effect of exchange differences arising from translation of financial statements of foreign operations Other comprehensive income for the period, net of tax Total comprehensive income for the period

77

77

77

77

4,774

77 77

77 4,851

77 4,851

204

77

5,055

At 31 March 2013 Profit net of tax Other comprehensive income

138,774

123,945 19,667

(60,360)

63,585 19,667

202,359 19,667

2,057 77

204,416

19,74

Net effect of exchange differences arising from translation of financial statements of foreign operations Other comprehensive income for the period, net of tax Total comprehensive income for the period Distributions to owners Dividends on ordinary shares Total transactions with owners in their capacity as owners At 30 June 2013

23

23

23

30

23

23

23

30

19,667

23

19,690

19,690

84

19,77

(13,500)

(13,500)

(13,500) (13,500) 208,549

(13,50

138,774

(13,500) 130,112

(60,337)

(13,500) 69,775

2,141

(13,50

210,690

(d)(i) Statements of Changes in Equity (continued):


Attributable to owners of the Company Equity attributable to owners of the Company $000

Group At 1 January 2012, as previously reported Effect of acquisition of subsidiary under common control At 1 January 2012, restated Profit net of tax, restated Other comprehensive income

Share capital $000

Retained earnings $000

Other reserves $000

Total reserves $000

Noncontrolling interests $000

Total equity $000

138,774 138,774

87,248 180 87,428 4,197

(61,339) 3,664 (57,675)

25,909 3,844 29,753 4,197

164,683 3,844 168,527 4,197

492 2,409 2,901 176

165,17

6,253 171,42

4,37

Net effect of exchange differences arising from translation of financial statements of foreign operations Other comprehensive income for the period, net of tax, restated Total comprehensive income for the period, restated Changes in ownership interests in subsidiary that do not result in a loss of control Incorporation of subsidiary company Total transactions with owners in their capacity as owners At 31 March 2012, restated

(73)

(73)

(73)

10

(63)

(73)

(73)

(73)

10

(63)

4,197

(73)

4,124

4,124

186

4,310

150

150

138,774

91,625

(57,748)

33,877

172,651

150 3,237

150

175,888

(d)(i) Statements of Changes in Equity (continued):


Attributable to owners of the Company Equity attributable to owners of the Company $000 6,771

Group Profit net of tax, restated Other comprehensive income

Share capital $000

Retained earnings $000 6,771

Other reserves $000

Total reserves $000 6,771

Noncontrolling interests $000 346

Total equity $000

7,11

Net effect of exchange differences arising from translation of financial statements of foreign operations Other comprehensive income for the period, net of tax, restated Total comprehensive income for the period, restated Distributions to owners Dividends on ordinary shares Total transactions with owners in their capacity as owners At 30 June 2012, restated

49

49

49

(64)

(15)

49

49

49

(64)

(15)

6,771

49

6,820

6,820

282

7,102

(16,200)

(16,200)

(16,200) (16,200) 163,271

(16,20

138,774

(16,200) 82,196

(57,699)

(16,200) 24,497

3,519

(16,20

166,790

.(d)(i) Statements of Changes in Equity (continued):

Company At 1 January 2013 Profit net of tax, representing total comprehensive income for the period At 31 March 2013 Profit net of tax, representing total comprehensive income for the period Distributions to owners Dividends on ordinary shares Total transactions with owners in their capacity as owners At 30 June 2013

Share capital $000 138,774

Retained earnings $000 22,240

Total reserves $000 22,240

Equity attributable to owners of the Company $000 161,014

Total equity $000 161,014

138,774

9,256 31,496

9,256 31,496

9,256 170,270

9,256 170,270

58

58

58

58

138,774

(13,500) (13,500) 18,054

(13,500) (13,500) 18,054

(13,500) (13,500) 156,828

(13,500) (13,500) 156,828

At 1 January 2012 Loss net of tax, representing total comprehensive income for the period At 31 March 2012 Loss net of tax, representing total comprehensive income for the period Distributions to owners Dividends on ordinary shares Total transactions with owners in their capacity as owners At 30 June 2012

138,774

18,232

18,232

157,006

157,006

138,774

(224) 18,008 (222)

(224) 18,008 (222)

(224) 156,782 (222)

(224) 156,782 (222)

138,774

(16,200) (16,200) 1,586

(16,200) (16,200) 1,586

(16,200) (16,200) 140,360

(16,200) (16,200) 140,360

1(d)(ii) Details of any changes in the Companys issued share capital There were no changes in the Companys share capital for the period ended 30 June 2013.

1(d)(iii) Total number of issued shares excluding treasury shares as at the end of the current financial period and as at the end of the immediately preceding year. 30/06/2013 270,000,000 31/12/2012 270,000,000

Number of ordinary shares

1(d)(iv) A statement showing all sales, transfer, disposal, cancellation and/or use of treasury shares as at the end of the current period reported on. Not applicable. There were no treasury shares during and as at the end of the current financial period reported on. 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 auditors.

Where the figures have been audited or reviewed, the auditors report (including any qualifications or emphasis of matter) Not applicable.

Whether the same accounting policies and methods of computation as in the issuers most recently audited annual financial statements have been applied

Other than as mentioned in Paragraph 5 regarding the adoption of amendments to Financial Reporting Standards (FRS), there were no further changes in accounting policies and methods of computation adopted in the financial statements of the current reporting period as compared to the most recently audited annual financial statements as at 31 December 2012. 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 effect of, the change.

The Group adopted the amendments to the Financial Reporting Standards (FRS) that are effective for annual financial periods beginning on or after 1 July 2012/1 January 2013. Amendments to FRS 1 Presentation of Items of Other Comprehensive Income Revised FRS 19 Employee Benefits FRS 113 Fair Value Measurement Amendments to FRS 107 Disclosures Offsetting Financial Assets and Financial Liabilities Improvements to FRSs 2012 Amendment to FRS 1 Presentation of Financial Statements Amendment to FRS 16 Property, Plant and Equipment Amendment to FRS 32 Financial Instruments: Presentation

The adoption of the above amendments to FRS did not result in any substantial change to the Groups accounting policies or any significant impact on the financial statements. 6 Earnings per ordinary share (cents) Group 3 months ended 30/06/2012 30/06/2013 6 months ended 30/06/2012 30/06/2013

(a) Basic and fully diluted (Restated) (b) Based on weighted average number of shares applicable to basic and fully diluted earnings per share

7.3

2.5

9.1

4.1

270,000,000

270,000,000

270,000,000

270,000,000

Net asset value per ordinary share Group 31/12/2012 30/06/2013 Net asset per ordinary share ($) 0.77 0.73 Company 31/12/2012 30/06/2013 0.58 0.60

A review of the performance of the group, to the extent necessary for a reasonable understanding of the groups 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 period reported on. Overview Q2 2013 compared with Q2 2012 (Restated) Performance

Revenue increased to $105.2 million in Q2 2013 compared with $93.6 million in Q2 2012 mainly due to higher contributions from new and on-going projects offset by completed projects. Gross Profit increased substantially to $26.5 million from $15.1 million in Q2 2012 due to higher revenue and cost savings arising mainly from write back of provisions upon the finalisation of accounts on completed projects. As a result, Gross Profit Margin increased to 25.2% compared with 16.1% in Q2 2012.

Other income increased substantially to $1.3 million from $0.5 million in Q2 2012 mainly due to gain on disposal of held-for-trading investments.

Other expenses was lower at $1.2 million from $2.4 million in Q2 2012 mainly due to loss on fair value adjustment on held-for-trading investments in the corresponding period last year.

Share of results of associates and joint ventures was lower in Q2 2013 mainly due to reduced contribution from the Ascentia Sky project which was completed in Q1 2013. Income tax expense was higher at $3.1 million mainly due to higher profit before tax. H1 2013 compared with H1 2012 (Restated) Performance

Revenue increased to $192.9 million in H1 2013 compared with $154.7 million in H1 2012 mainly due to higher contributions from new and on-going projects offset by completed projects. Gross Profit increased substantially to $36.0 million from $24.5 million in H1 2012 due to higher revenue and cost savings arising mainly from write back of provisions upon the finalisation of accounts on completed projects. As a result, Gross Profit Margin increased to 18.7% compared with 15.8% in H1 2012.

Other income increased substantially to $2.9 million from $0.7 million in H1 2012 mainly due to gain on fair value adjustment on held-for-trading investments as well as gain on disposal of held-for-trading investments.

Other expenses was lower at $1.9 million from $2.6 million in H1 2012 mainly due to gain on foreign exchange.

Share of results of associates and joint ventures was lower in H1 2013 mainly due to reduced contribution from the Ascentia Sky project which was completed in Q1 2013. Income tax expense was higher at $5.1 million mainly due to higher profit before tax.

The Groups attributable profit for Q2 2013 increased to $19.7 million compared with $6.8 million in Q2 2012 (Restated). For H1 2013, the attributable profit was $24.4 million compared with $11.0 million in H1 2012.

Earnings per ordinary share (EPS) were 7.3 cents for Q2 2013 and 2.5 cents for Q2 2012 (Restated) respectively. EPS for H1 2013 and H1 2012 (Restated) were 9.1 cents and 4.1 cents respectively.

Net asset per ordinary share was $0.77 as at 30 June 2013 compared with $0.73 as at 31 December 2012.

Financial Position Review

Investments in associates decreased by $4.0 million mainly due to the payment of a dividend of $5.0 million from an associate.

Non-current trade and other receivables increased by $14.4 million mainly due to the increase in loan receivable from associates and joint ventures for property development projects.

Current trade and other receivables increased by $7.3 million mainly due to the reclassification of noncurrent retention sums to current receivables for projects achieving completion or TOP (as mentioned above); increase in loan receivable from associates for property developments projects offset by decrease in trade receivables. Other investments decreased by $7.2 million due to disposal of held-for-trading investments.

Gross amount due from customers for contract work increased by $2.5 million mainly due to higher cost recognised for on-going projects. Non-current trade and other payables decreased by $1.8 million mainly due to the reclassification of noncurrent retention sums to current payables for projects achieving completion or TOP (as mentioned above) offset by increase in retention sums for other on-going projects. Current trade and other payables decreased by $1.8 million mainly due to decrease in accruals for staff costs and construction job costs offset by reclassification of non-current retention sums to current payables retention sums. Gross amount due to customers for contract work decreased by $4.5 million mainly due to lower certification of work done. Cash Flow Review

As at 30 June 2013, the Group had cash of $96.2 million. The Group generated net cash of $20.3 million from operating activities, of which $4.6 million was deployed in fixed assets and $28.4 million in loans to associates and a joint venture for property development projects. The Groups components of cash flow and changes in these components from 31 December 2012 to 30 June 2013 were due to the Groups other ongoing operations.

As at the date of this report, the Company has utilised $5.0 million of the IPO proceeds for capital injection into its wholly-owned subsidiary UE Power & Resources Pte Ltd to expand its power solution business; and $13.2 million for the property development project in Pasir Ris Drive 3/Pasir Ris Link.

The Company will make periodic announcements via SGXNET as and when the remaining net proceeds from the Companys IPO are materially disbursed. 9

Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results. The Company did not make any forecast or a prospect statement previously.

10

A commentary at the date of this 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.

Against a backdrop of a strong construction demand in 2013 projected by the Building and Construction Authority of Singapore at between $26 to $32 billion, we remain optimistic about our construction and engineering businesses. The construction industry is experiencing a labour crunch due to more stringent foreign manpower quota and other restrictions. The Group has made headway and will continue to focus on productivity enhancements through continuous manpower training and deployment of technology and machinery.

The demand for private residential properties is likely to be affected by the new Total Debt Servicing Ratio framework for property loans implemented by the Monetary Authority of Singapore in June this year, as well as the seventh round of property cooling measures introduced by the Singapore Government in January.

11 (a)

Dividend Current Financial Period Reported on Any dividend recommended for the current financial period reported on? No.

(b)

Corresponding Period of the Immediately Preceding Financial Year Any dividend declared for the corresponding period of the immediately preceding financial year? No.

(c)

Date Payable Not applicable.

(d)

Books closure date Not applicable.

12

If no dividend has been declared/recommended, a statement to that effect No dividend is declared for the period ended 30 June 2013.

13

Interested Person Transactions Aggregate value of all interested person transactions during the financial period under review (excluding transactions less than $100,000 and transactions conducted under shareholders mandate pursuant to Rule 920 of the SGX Listing Manual) Group 30/06/2013 $000 Aggregate value of all interested person transactions conducted under the shareholders mandate pursuant to Rule 920 of the SGX Listing Manual (excluding transactions less than $100,000) Group 30/06/2013 $000

Name of interested person

United Engineers Limited Group (A) Contract value (B) Revenue


1

128,391 31,194

Revenue forms part of the contract value.

BY ORDER OF THE BOARD Tan Ching Chek Company Secretary 12 August 2013

Confirmation by the Board

We, Dr Tan Eng Liang and Chua Hock Tong, being two directors of UE E&C Ltd. (the Company), do hereby confirm on behalf of the directors of the Company that, to the best of their knowledge, nothing has come to the attention of the board of directors of the Company which may render the Q2 2013 and half year 2013 financial results to be false or misleading in any material aspect.

On behalf of the Board,

. Dr Tan Eng Liang Chairman

. Chua Hock Tong Chief Executive Officer