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Notice Of Cessation Of Substantial Shareholding

BackMar 17, 2008
Part I
1. Date of notice to issuer 14/03/2008
2. Name of Substantial Shareholder CHEUNG KWAN
3. Notice Type Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II - Not Required
Part III
1. Date of change of Interest 12/03/2008
2. The change in the percentage level From 6.89 % To 4.15 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Sale of 11,109,000 shares in the listed company held by Northeastern Holdings Pte Ltd ("Northeastern")

Cheung Kwan holds 45.24% shareholding interest in Northeastern.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a transaction.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 16,808,513 11,109,000
As a percentage of issued share capital 4.15 % 2.74 %
No. of shares held after the change 16,808,513 0
As a percentage of issued share capital 4.15 % 0 %
Footnotes (a) Cheung Kwan is deemed to be interested in the shares of the listed company held by Northeastern by virtue of Section 7 of the Companies Act, Cap. 50.

(b) As a result of the transaction, Cheung Kwan shall cease to be a substantial shareholder of the listed company.

(c) The percentages are computed based on 405,010,010 issued shares.