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Luen Thai Holdings Limited ( ) ( 311) Design Product Development Manufacturing Social Compliance Supply Chain 2006

2 3 4 6 7 10 16 21 38 47 49 51 52 53 54 56 132 1

Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands 57 5 http://www.luenthai.com Bank of Bermuda (Cayman) Limited P.O. Box 513 G.T. Strathvale House, North Church Street George Town, Grand Cayman Cayman Islands 183 17 1712 1716 22 18 5 2

Polo Ralph Lauren Dillard's Limited Brands addidas Fast Retailing 70,000,000 design-to-stored2s D2S D2S 6.62 25,000 3

661,836 593,118 124,271 113,673 18.8% 19.2% 13,533 21,075 2.0% 3.6% 2,509 13,240 0.4% 2.2% 0.3 1.3 0.156 0.186 0.244 198,731 218,714 4

2006 2005 520,000 540,000 560,000 580,000 600,000 620,000 640,000 660,000 680,000 14,000 1.4 12,000 1.2 10,000 1.0 8,000 0.8 6,000 0.6 4,000 0.4 2,000 0.2 0 05 06 0 05 06 8.5% 8.6% 72.1% 9.7% 7.8% 65.0% 10.8% 17.5% 5

Yuenthai Philippines, Inc. On Time International Limited 50% 30,000 6

D2S D2S D2S 7

57% 20% 16% D2S On Time On Time International Limited On Time 50% 80.4% 52,000,000 On Time 8

D2S Yuen Thai On Time On Time D2SOn Time 9

661,836,000 11.6% On Time D2S 124,271,000 113,673,000 18.8% 19.2% 13,533,000 35.8% 81.0% 2,509,000 13,791,000 16.2% 10

On Time 50% 30,000 D2S Yuen Thai 50/50 Yuen Thai 11

On Time 50% On Time 10% On Time 12

Guangzhou Huasheng Garment Company Limited Guangzhou Thai Ying Garment Company Limited Thai YingThai Ying Warnaco Inc. Kasper Holdings Inc./Jones Apparel Group, Inc. New Trillion Consultants Limited D2S 21 (http://www.luenthai.com) 107,076,000 40,962,000 69,434,000 83,687,000 17.0% 13

31,184,000 4,500,000 13,500,000 20,250,000 14

25,000 Project Supply Chain City HR 15

76 53 22 45 17 DHL/SCMP Owner- Operator 54 20 Pentland Group plc INSEAD Euro- Asia Centre 16

33 University of Wisconsin-Madison 51 Tan Private Group 20 Confederation of Garment Exporters of the Philippines Philippine-China Business Council 41 19 Carleton University 63 Nam Tai Electronics, Inc. 37 17

59 32 54 58 32 21 44 50% 21 Adidas Salomon International Sourcing Limited HELFENBEIN Richard A. 58 Helfenbein Crystal Brands Inc. Izod/Lacoste Youthwear Burlington Industries, Inc. Blythedale Children s Hospital American Apparel and Footwear Association Helfenbein Wharton Business School 18

59 21 Pentland Group Camberley of Li & Fung University of Texas Dr. ROMAGNA John 61 Dr. Romagna 26 GTE Dr. Romagna 48 Zale Corp University of Texas Texas Southmost College 45 17 Northern Marianas College Foundation Mariana Visitor's Authority Northern Mariana Islands Football Association East Asian Football Federation Business Person of the Year 19

TENNANT Alan James 49 Tennant 21 Dewhirst Group Kurt Salmon Associates KSD2 Practitioner Heriot Watt University 50 26Ontario College of Arts 48 24 University of Texas 43 14 20

52 10 15 0.186 1,846,000 9 11 16 17 21

189,403,000 841,000116,998,00071,564,000 132 19,813,000 7 19 74,000 22

a) b) (i) (ii) (iii) 23

1021 (i) (ii) (iii) 24

5 4.10 200,000 200,000 2.52 200,000 200,000 1.28 250,000 250,000 200,000 450,000 650,000 5 4.10 150,000 150,000 2.52 150,000 150,000 1.28 150,000 150,000 150,000 300,000 450,000 10 4.10 250,000 250,000 2.52 500,000 500,000 1.28 700,000 700,000 250,000 1,200,000 1,450,000 5, 11 4.10 150,000 150,000 2.52 300,000 300,000 1.28 400,000 400,000 150,000 700,000 850,000 7 4.10 200,000 200,000 2.52 300,000 300,000 200,000 300,000 500,000 25

6 4.10 150,000 150,000 2.52 150,000 150,000 1.28 150,000 150,000 150,000 300,000 450,000 8 4.10 200,000 200,000 2.52 200,000 200,000 1.28 200,000 200,000 200,000 400,000 600,000 9 4.10 50,000 50,000 2.52 150,000 150,000 1.28 150,000 150,000 50,000 300,000 350,000 9 4.10 100,000 100,000 2.52 200,000 200,000 1.28 200,000 200,000 100,000 400,000 500,000 4.10 6,306,500 (136,500) 6,170,000 2.52 6,560,000 (290,000) 6,270,000 1.28 6,830,500 6,830,500 6,306,500 13,390,500 (426,500) 19,270,500 4.10 7,756,500 (136,500) 7,620,000 2.52 8,710,000 (290,000) 8,420,000 1.28 9,030,500 9,030,500 7,756,500 17,740,500 (426,500) 25,070,500 26

1. 10 2. 3. 4. 2 5. 6. 5 7. 5 8. 9. 10. 11. (i) (ii) (iii) (iv) (v) 0.78 2.5 2.52 37% 4% 3-5 2.1% 0.46 1.28 1.28 43% 3.8%-3.9% 3-5 1.7% 27

(i) (ii) (iii) (iv) (v) 28

150,000 76,700 198,000 144,000 256,668 67,000 120,000 100,000 29

XV352 1 675,998,000 68.11% 2 3 614,250,000 61.89% 7 8 650,000 0.07% 2 5 614,250,000 61.89% 7 8 9 650,000 0.07% 7 8 1,450,000 0.15% 2 6 614,250,000 61.89% 7 8 11 1,172,000 0.12% 2 4 614,250,000 61.89% 7 10 1,100,000 0.11% 1. Tan Family Trust of 2004 Pak Kim Lam Tan Trust of 2004 HJ Trust WR5C Trust LS Trust RC Trust JL Trust ST Trust XV Tan Holdings Corporation Tan Holdings Corporation Helmsley Enterprises Limited Helmsley 68.11% 30

2. Helmsley Helmsley XV Helmsley 3. HJ Trust XV HJ Trust 4. WR5C Trust XV WR5C Trust 5. RC Trust XV RC Trust 6. ST Trust XV ST Trust 7. 8. 9. 200,000 XV 200,000 10. 600,000 XV, 600,000 11. 322,000 Tan Private GroupHelmsley Tan Holdings Corporation Helmsley Tan Holdings Corporation Tan Private Group 31

Tan Private Group Tan Private Group 14A 14A 14A Tan Private Group Tan Private Group 95 267 177 327 283 680 658 1,001 2,018 2,068 1,546 1,001 107 182 2,162 5,206 634 1,059 3,129 221 208 283 134 1,749 962 32

(a) (b) (c) (d) 14A.38 4400 (i) (ii) 33

336 Capital Glory Limited (a) 614,250,000 61.89% Helmsley (a) 614,250,000 61.89% Tan Family Trust of 2004 (b) 675,998,000 68.11% Tan Family Trust of 2004 (c) 614,250,000 61.89% Pou Chen Corporation 89,100,000 8.98% Wealthplus Holdings Limited 89,100,000 8.98% ( ) 89,100,000 8.98% Pou Hing Industrial Co. Ltd. 89,100,000 8.98% Great Pacific Investments 89,100,000 8.98% Limited Tan Holdings Corporation 60,750,000 6.12% 998,000 0.10% Union Bright Limited 60,750,000 6.12% T. Rowe Price Associates, Inc. 59,992,000 6.04% 34

(a) Capital Glory Limited Capital Glory Helmsley Helmsley Capital Glory (b) Tan Family Trust of 2004 Tan Family Trust of 2004 Tan Holdings CorporationHelmsley30% XV Tan Family Trust of 2004Tan Holdings Corporation Helmsley (c) Tan Family Trust of 2004 (i) Pak Kim Lam Tan Trust of 2004 (ii) HJ Trust (iii) WR5C Trust (iv) LS Trust (v) RC Trust (vi) JL Trust (vii) ST Trust Tan Family Trust of 2004 Tan Family Trust of 2004 XV Tan Holdings Corporation Helmsley 68.11% XV 2 3 10% 35

62% 64% 40% 42% 28% 28% 19% 21% 5% 38 46 35 36

37

38

97% 94% 4/4 * 4/4 * 3/4 4/4 * 2/2 100% * 4/4 100% 4/4 4/4 4/4 * 39

16 18 40

39 42 45 (i) (ii) (iii) (iv) 120,000 100,000 41

(100%) 42

1,665,000 1,818,000 29 43

(i) (ii) 44

100% 3/3 3/3 3/3 671,000 281,000 77,000 133,000 45

992,500,0000.01 Capital Glory Limited1 2 614,250,000 61.89% Union Bright Limited1 3 60,750,000 6.12% 1 4 5 6 2,120,000 0.21% 677,120,000 68.22% 89,100,000 8.98% T. Rowe Price Associates, Inc. 59,992,000 6.04% 166,288,000 16.76% 992,500,000 100.00% 1. 2. Capital Glory Helmsley Helmsley 3. Union Bright Limited Tan Holdings Corporation Tan Holdings Corporation Tan Family Trust 4. Tan Holdings Corporation 998,000 5. 200,000 600,000 XV 6. 322,000 1.15 11.4 2.85 1.12 46

49 131 47

48

6 4,286 4,727 7 90,643 84,309 8 52,857 21,852 10 287 231 11 2,045 2,560 12 311 792 13 3,627 4,558 154,056 119,029 14 65,332 64,783 13 93,852 71,318 122 13 & 33 2,397 3,273 13 & 33 6,778 2,045 13 15,600 6,934 15 681 15 107,076 148,038 291,838 296,391 445,894 415,420 16 9,925 9,925 17 98,628 117,726 1,548 90,178 89,515 198,731 218,714 15,502 5,290 214,233 224,004 49

18 38,250 386 19 2,295 2,041 12 3,849 401 20 22,073 10,296 66,467 13,124 21 43,906 31,558 18 31,184 83,301 12,489 2,590 21 & 33 1,499 2,775 21 & 33 84 21 76,032 58,068 165,194 178,292 231,661 191,416 445,894 415,420 126,644 118,099 280,700 237,128 56 131 50

9 199,626 201,626 27 15 430 73 430 100 200,056 201,726 16 9,925 9,925 17 189,101 188,562 1,548 841 1,319 199,867 201,354 189 372 200,056 201,726 56 131 51

22 661,836 593,118 23 (537,565) (479,445) 124,271 113,673 23 (19,168) (14,325) 23 (91,570) (78,273) 13,533 21,075 25 3,500 1,980 25 (6,608) (3,474) 54 (1,891) (435) (257) 10,044 17,433 26 (5,000) (2,933) 5,044 14,500 2,509 13,240 2,535 1,260 5,044 14,500 28 0.3 1.3 0.3 1.3 29 1,846 3,970 56 131 52

9,023 71,686 8,113 85,406 174,228 298 174,526 (457) (457) (457) (349) (349) (349) (806) (806) (806) 13,240 13,240 1,260 14,500 (806) 13,240 12,434 1,260 13,694 902 45,312 46,214 46,214 (7,583) (7,583) (7,583) 20 (6,579) (6,579) (6,579) 3,732 3,732 9,925 116,998 728 91,063 218,714 5,290 224,004 9,925 116,998 728 91,063 218,714 5,290 224,004 2,196 2,196 2,196 2,196 2,196 2,196 2,509 2,509 2,535 5,044 2,196 2,509 4,705 2,535 7,240 (3,394) (3,394) (3,394) (1,450) (1,450) (1,450) 20 (20,383) (20,383) (20,383) 539 539 539 7,677 7,677 9,925 116,998 (18,370) 90,178 198,731 15,502 214,233 56 131 53

30(a) 17,558 57,574 (4,091) (3,474) (1,268) (1,483) (1,416) (4,459) 10,783 48,158 (19,813) (23,009) (1,359) (724) 56,674 (681) 1,470 1,255 661 30(b) (13,683) (5,733) 30(c) 196 (5,739) (1,289) (1,856) 3,500 1,980 931 823 21,566 (27,962) 32,349 20,196 (8,943) (11,631) (413) 45,000 (48,635) (12,655) 46,214 (3,394) (7,583) (16,385) 14,345 54

15,964 34,541 80,003 46,204 1,010 (742) 15 96,977 80,003 56 131 55

1 On Time International Limited ( On Time ) 50%On Time 57 5 2 2.1 4 56

2 2.1 19 21 39 39 39 4 6 1 6 4 5 6 57

2 2.1 8 2 8 2 8 10 10 10 7 1 7 1 1 7 1 58

2 2.1 7 29 7 29 7 9 9 9 2.2 (a) 59

2 2.2 (a) 2.7 2.8 (b) 60

2 2.2 (c) 20% 50% (d) 61

2 2.3 2.4 (a) (b) ( ) ( ) 62

2 2.4 (c) (i) (ii) (iii) 63

2 2.5 ( ) 20 5 15 5 10 3 5 3 5 ( 2.8) 2.6 2.5 64

2 2.7 (a) (b) 14 15 2.8 65

2 2.9 (a) (b) 2.11 2.11 66

2 2.10 2.11 2.12 2.13 ( ) 2.14 67

2 2.15 2.16 ( ) 68

2 2.17 (a) 10% 10% 69

2 2.16 (b) (c) (d) 12 70

2 2.18 2.19 (i) (ii) 71

2 2.19 (iii) (iv) (v) 2.20 2.21 3 3.1 (a) 72

3 3.1 (a) (b) (c) (d) 73

3 3.2 ( ) 4 (a) 74

4 (b) ( ) (c) ( ) ( ) (1) (2)( ( ) (3) 75

4 (d) (e) (f) (g) ( ) 16 76

5 (a). 644,416 16,737 3,629 664,782 (2,946) (2,946) 644,416 13,791 3,629 661,836 13,105 428 13,533 3,083 417 3,500 (6,608) (6,608) 54 54 (435) (435) 10,044 (4,524) (476) (5,000) 5,044 (2,458) (77) (2,535) 2,509 77

5 (a) 578,362 14,692 2,884 595,938 (2,820) (2,820) 578,362 11,872 2,884 593,118 19,252 1,823 21,075 1,875 105 1,980 (3,474) (3,474) (1,891) (1,891) (257) (257) 17,433 (2,936) 3 (2,933) 14,500 (1,247) (13) (1,260) 13,240 78

5 (a) 7 12,778 711 13,489 10,690 542 11,232 6 8 1,166 1,166 572 572 343 25 368 66 22 88 1,047 1,047 (980) (980) 827 827 1,273 1,273 79

5 (a) 414,194 28,935 443,129 8 279 287 2,045 2,045 416,247 29,214 445,461 433 445,894 160,942 11,231 172,173 59,488 231,661 6 7 8 49,003 2,548 51,551 80

5 (a) 387,712 24,125 411,837 8 223 231 2,560 2,560 390,280 24,348 414,628 792 415,420 127,198 14,442 141,640 49,776 191,416 6 7 8 43,486 1,033 44,519 6 7 8 6 7 8 32 81

5 (b) 429,869 427,602 115,664 64,117 64,325 50,557 5,308 3,814 7,100 8,281 8,895 7,330 5,813 3,866 1,545 1,692 1,970 2,362 1,413 2,670 19,934 20,827 661,836 593,118 82

5 (b) 239,476 206,998 37,279 37,483 106,079 87,402 18,234 23,772 36,264 37,784 6,230 19,190 443,562 412,629 287 231 2,045 2,560 445,894 415,420 33,128 20,778 1,101 111 12,384 20,462 1,514 881 1,710 1,760 1,714 527 51,551 44,519 83

6 10 50 4,286 4,727 4,727 3,515 1,359 (102) (82) (65) (339) 4,286 4,727 84

7 日 28,103 21,403 43,157 27,037 3,595 3,376 126,671 (4,053) (13,768) (17,162) (16,996) (2,497) (54,476) 24,050 7,635 25,995 10,041 1,098 3,376 72,195 24,050 7,635 25,995 10,041 1,098 3,376 72,195 30(b) 238 1,221 261 54 1,774 151 1,049 5,006 6,196 680 9,927 23,009 (118) (776) (605) (59) (58) (1,616) 4,256 921 (3) 16 (5,190) (1,443) (1,994) (3,669) (3,700) (426) (11,232) 52 112 45 (51) 13 8 179 26,948 7,185 27,990 12,704 1,361 8,121 84,309 32,542 22,780 47,476 33,110 3,960 8,121 147,989 (5,594) (15,595) (19,486) (20,406) (2,599) (63,680) 26,948 7,185 27,990 12,704 1,361 8,121 84,309 85

7 26,948 7,185 27,990 12,704 1,361 8,121 84,309 30(b) 671 597 339 1,607 30(c) (1) (48) (129) (19) (197) 148 2,024 3,524 4,672 980 8,465 19,813 (571) (704) (230) (80) (1,585) 10,807 62 2,978 65 (13,912) (2,069) (2,108) (4,835) (3,862) (615) (13,489) (738) (339) (135) (61) (1,273) 738 24 422 65 4 205 1,458 36,572 6,548 28,988 13,747 1,909 2,879 90,643 44,060 22,768 55,456 38,546 5,280 2,879 168,989 (7,488) (16,220) (26,468) (24,799) (3,371) (78,346) 36,572 6,548 28,988 13,747 1,909 2,879 90,643 (a) 6,505,000 6,300,000 6,984,000 4,932,000 (b) 86

8 3,965 3,965 3,965 3,965 3,965 3,965 30(b) 8,098 10,279 18,377 23 (490) (490) 12,063 9,789 21,852 12,063 10,279 22,342 (490) (490) 12,063 9,789 21,852 12,063 9,789 21,852 2,765 2,765 30(b) 10,991 19,140 30,131 23 (1,064) (1,064) 23 (827) (827) 24,992 27,865 52,857 25,819 29,419 55,238 (827) (1,554) (2,381) 24,992 27,865 52,857 87

8 1,064,000 ( 490,000 ) 10,863 8,098 2,380 2,380 10,991 758 1,585 24,992 12,063 88

8 (a) 2.0% 2.0% 3.5% 2.0% (b) 15.0% 15.0% 16.93% 15.0% (a) (b) 1.0% 1.0% 2.5% 1.0% 16.0% 16.0% 17.93% 16.0% 9 71,564 71,564 128,062 130,062 199,626 201,626 89

9 Best Uni Limited 10,000 50% 1 Chelton Force Limited 1 1 100% Concorde Garment 1,510,000 100% Manufacturing Corporation 1 Consolidated Transportation 1,000,000 100% Services, Inc. 1 Consolidated Transportation 100,000 90% Services (FSM), Inc. 1 Consolidated Transportation 400,000 100% Services, Incorporated (Guam) 1 Consolidated Transportation 100,000 80% Services, Inc. (Palau) 1 CTSI Holdings Limited 1 1 100% CTSI Logistics, Inc. 10,000 100% 100,000 90

9 CTSI Logistics Inc. 100 100% 380,000 60,000 60% 5,000 100,000 100% 10 100,000 100% 100 100% 225,350,000 225,350,000 8,000,000 100% Fortune Investment Overseas 1 100% Limited 1 2 100% 1 2 100% 100 100% 102,000,000 77,458,757 91

9 GJM (UK) Limited 1 100% 1 Golden Dragon 62,000 100% Apparel, Inc. 100 1,000,000 100% Kingsmere, Inc. 100 100% 310,000 L & T International Group 20,000 100% Phils., Inc. 100 25,000 100% 2 100% 1 25,000 100% Luen Thai Overseas Limited 16,685,804 100% 1 Manhattan Limited 10,000 50% 1 92

9 On time International Limited 500 50% 1 5,700,000 100% 4,874,560 Philippine Luen Thai 260,000 100% Holdings Corporation 100 Partner Joy Group Limited 1,000 71% 1 Power Might Limited 12,207,164 100% 1 Sunny Force Limited 1 100% 1 TellaS Ltd. 100 100% 100,000 1,000,000 71% 1 1,000,000 71% 1 1,000,000 71% 1 TSM Fashion (H.K.) Limited 3,000,000 50% 1 TMS International Limited 2,000 50% 500 93

9 Luen Thai Overseas Limited 10 287 231 156 156 1,420,000 49% 10 LT Investment Co. Ltd. 25 49% 8,000 94

11 (599) (84) 2,644 2,644 2,045 2,560 3,750 2,461 95

11 Shenzhen Guangthai International Co. Ltd. 20,000,000 50% 2,379 313 (563) 2,400,000 25% 1,918 1,493 4,743 2 2,050,000 50% 3,350 983 4,145 78 2 1 50% 17,979 21,116 20,556 (971) Yuen Thai Holdings Limited 2 1 50% 5,639 5,641 (1) Yuenthai Philippines, Inc. 4,000,000 50% 2,936 4,628 2,976 (1,711) 96

12 12 311 792 12 3,849 401 (391) (822) 26 525 427 30(b) 3,350 4 16 30(c) 38 3,538 (391) 97

12 280 63 479 822 (18) (414) 5 (427) (4) (4) 262 (355) 484 391 (224) (171) (130) (525) (3,350) (3,350) (38) (38) (1) (15) (16) 38 (565) (3,350) 339 (3,538) 17,246,000 11,443,000 7,091,000 ( 4,705,000 ) 98

13 95,102 73,217 (1,250) (1,899) - 93,852 71,318 19,227 11,492 2,397 3,273 6,778 2,045 122,254 88,128 (3,627) (4,558) 118,627 83,570 30 60 54,129 41,851 30 26,845 15,831 31 60 6,442 4,902 61 90 1,768 2,704 91 5,918 7,929 95,102 73,217 368,000 ( 88,000 ) 99

13 11,863,000 ( 23) 14 30,986 29,270 20,378 15,175 13,968 20,338 65,332 64,783 444,219,000 386,939,000 15 42,951 53,047 430 73 64,125 94,991 107,076 148,038 430 73 (56,674) ( 18) (10,099) (11,361) 96,977 80,003 100

15 1,969,0002,376,000 4.33%( 2.7%) 62 ( 62 ) 90 681,000 ( ) 16 0.01 1,500,000,000 15,000 0.01 902,300,000 9,023 90,200,000 902 992,500,000 9,925 10 101

16 10% 1% (i) (ii) (iii) 4.10 7,757 (137) 7,620 2.52 8,710 (290) 8,420 1.28 9,031 9,031 7,757 17,741 (427) 25,071 102

16 8,710,000 9,031,000 0.78 0.46 2.50 1.28 37% 43% 2.1% 1.7% 3 5 3 5 4.0% 3 3.76% 2 3.9% 4.10 7,620 7,757 2.52 8,420 1.28 9,031 25,071 7,757 103

17 (a) (i) 71,686 11,722 (3,609) 79,799 45,312 45,312 20 (6,579) (6,579) (349) (349) (457) (457) 116,998 11,722 (6,928) (4,066) 117,726 116,998 11,722 (6,928) (4,066) 117,726 20 (20,383) (20,383) (1,450) (1,450) 539 539 2,196 2,196 116,998 11,722 (28,761) 539 (1,870) 98,628 104

17 (b) (ii) 71,686 71,564 143,250 45,312 45,312 116,998 71,564 188,562 116,998 71,564 188,562 539 539 116,998 71,564 539 189,101 (i) (ii) 105

18 38,250 386 10,099 11,361 327 740 4,900 46,399 15,858 24,801 31,184 83,301 69,434 83,687 10,099 11,361 15,858 24,801 5,227 47,139 31,184 83,301 4,500 386 4,500 386 13,500 13,500 10,099 11,361 15,858 24,801 23,227 47,525 49,184 83,687 20,250 20,250 10,099 11,361 15,858 24,801 43,477 47,525 69,434 83,687 7,301 10,459 62,133 73,228 69,434 83,687 106

18 4.62% 4.08% 5.23% 4.07% 4.78% 3.03% 8.00% 8.00% 6.75% 6.25% 19 1,813 1,667 482 374 2,295 2,041 24 838 523 80 74 918 597 Real Actuarial Resource Consulting Limited 107

19 (a) 636,000 603,000 (b) 1,791 1,199 22 468 1,813 1,667 372 374 137 148 (35) 1 364 24 838 523 108

19 (b) 1,667 1,129 838 523 (809) (2) 117 17 1,813 1,667 9.0% 12.0% 7.5% 7.5% (c) Real Actuarial Consulting Limited 605 656 (123) (282) 482 374 109

19 (c) 19 16 24 18 37 40 24 80 74 374 468 80 74 (106) (168) 134 482 374 3.7% 4.0% 3.0% 3.5% 110

20 1,690 3,717 20,383 6,579 22,073 10,296 On Time International Limited ( On Time )50%Partner Joy Group Limited ( Partner Joy )71% On Time Partner Joy On Time Partner Joy 40% 29% 6,302 5,559 1,905 3,973 9,097 26,004 6,825 43,308 16,357 (5,836) (502) 37,472 15,855 (15,399) (5,559) 22,073 10,296 111

21 43,906 31,558 1,499 2,775 84 76,032 58,068 121,521 92,401 17,283 16,242 30 17,242 8,464 31 60 4,059 909 61 90 819 1,602 91 4,503 4,341 43,906 31,558 8,130,000927,000 112

22 644,416 578,362 13,791 11,872 427 594 198 176 1,749 998 1,255 1,116 661,836 593,118 113

23 161,949 100,312 282,270 286,627 1,047 (980) 727 638 115 426 733 689 102 82 1,064 490 827 13,489 11,232 1,273 2,082 2,173 368 88 5,539 4,222 1,717 1,559 2,343 280 24 118,033 113,985 3,886 2,981 1,527 1,384 2,904 3,740 21,737 26,472 (778) (5,401) 25,349 21,044 648,303 572,043 537,565 479,445 19,168 14,325 91,570 78,273 648,303 572,043 114

24 (a) 113,195 110,282 2,207 502 539 19(a) 636 603 19(b) 838 523 19(c) 80 74 538 2,001 118,033 113,985 (b) 1 128 128 332 13 2 347 289 9 2 300 414 32 18 464 3 112 19 2 133 2 88 149 17 254 13 13 13 13 13 13 115

24 (b) 1 128 128 331 2 333 321 321 240 19 2 261 433 300 2 735 13 13 13 13 13 13 1 1 1 2 3 116

24 (c) 733 654 480 609 12 12 28 1,253 1,275 258,001 323,000 2,000,001 2,500,000 323,001 387,000 2,500,001 3,000,000 1 387,001 452,000 3,000,001 3,500,000 3 452,001 516,000 3,500,001 4,000,000 ) 2 3 3 117

25 4,091 3,474 2,517 6,608 3,474 (3,500) (1,980) 3,108 1,494 26 17.5% 17.5% 1,774 742 3,213 5,102 (512) (3,338) 12 525 427 5,000 2,933 118

26 10,044 17,433 17.5% 17.5% 1,758 3,051 (90) 3,090 (790) (1,991) 1,818 871 3,356 1,284 (22) (34) (518) (512) (3,338) 5,000 2,933 1,080,000 1,080,000 27 1,368,000 ( 4,459,000 ) 119

28 2,509 13,240 992,500,000 983,356,000 0.3 1.3 29 0.186 0.244 1,846 2,422 0.156 1,548 1,846 3,970 120

30 (a) 10,044 17,433 (54) 1,891 435 257 25 (3,500) (1,980) 25 6,608 3,474 8 1,064 490 6 102 82 7 13,489 11,232 1,273 827 115 361 65 (35) (98) 539 30,907 33,207 (554) 9,390 (5,709) 12,774 458 (859) (4,733) 2,638 (5,032) 3,395 (479) (4,223) 84 (644) (2,456) (6,927) 4,818 8,379 254 444 17,558 57,574 121

30 (a) 7 1,585 1,616 (115) (361) 1,470 1,255 122

30 (b) 1,607 1,774 11,605 4,448 16,825 8,977 469 1,451 452 19,140 10,279 1,037 5,567 2,226 (14,804) (8,419) (3,307) (586) (8,108) (531) (174) (6,503) (11,848) (3,350) (4) 15,354 12,869 (7,677) (3,732) 7,677 9,137 3,309 10,986 9,137 9,954 8,098 20,940 17,235 19,250 7,959 1,690 9,276 20,940 17,235 123

30 (b) 19,250 7,959 (5,567) (2,226) 13,683 5,733 (c) 197 5 38 22 4 870 (971) 165 35 200 200 (4) 196 124

31 (a) 3,545 3,878 (b) 2,066 4,292 2,024 5,614 3,877 3,287 7,967 13,193 73 218 89 623 162 841 32 On Time 50%On Time On Time 19,250,000 33,000,000 19,250,000 125

32 On Time On Time On Time 50% 10% On Time On Time On Time 40% 19,250 1,690 20,940 (10,986) 30(b) 9,954 On Time 126

32 1,607 1,607 16,825 16,825 469 469 452 452 19,140 1,037 1,037 5,567 5,567 (14,804) (14,804) (3,307) (3,307) (8,108) (8,108) (174) (174) (3,350) 15,354 (436) (7,677) 7,677 3,309 10,986 33 Capital Glory Limited 61.89% Helmsley Enterprises Limited (a) () ( ) 127

33 (a) (i) 146 261 281 333 427 594 1,749 36 962 1,749 998 426 1,288 27 66 10 519 1,298 8,074 12,926 53 198 173 3 198 176 308 128

33 (a) (ii) 1 10 1,546 1,001 95 267 658 1,001 504 888 567 967 2,018 2,068 107 182 634 1,059 777 1,416 1,592 2,530 5,320 528 2,657 5,738 2,657 6,266 PT. Best Indo * 918 PT. Best Indo* PT. Bestex* 412 129

33 (a) (ii) * PT. Best Indo PT. Bestex On Time (b) 3,492 3,049 511 1,114 38 26 191 4,232 4,189 (c) 30,000,000 (d) 130

34 35 33%(15% 24% 25% 10% On Time On Time 10%On Time 10% 4,231,000 On Time 60% 131

279,195 244,643 353,759 415,420 445,894 204,904 188,767 179,233 191,416 231,661 47,839 33,637 97,392 83,687 69,434 74,081 55,659 174,228 218,714 198,731 53,745 33,435 88,854 118,099 126,644 563,658 544,924 553,766 593,118 661,836 14,052 23,566 30,361 13,240 2,509 1.36 1.24 1.72 1.66 1.77 24.7% 25.2% 22.7% 19.2% 18.8% 2.5% 4.3% 5.5% 2.2% 0.4% 132