Modelo econométrico

1. Indicate the price at which the securities are being offered and the amount of any expense specifically charged to the subscriber or purchaser. If it is not possible to state the offer price at the date of lodgment of the offer information statement, the method by which the offer price is to be determined must be explained.

Preferential Offer Issue Price : S$1.97 per New Share (which is a discount of approximately 4.8% to the last traded price of S$2.07 prior to the announcement of the Preferential Offering on 28 March 2008)

Subscribers of the New Shares under the Preferential Offering may be required to pay an administration fee of up to S$2 for each successful acceptance through the ATMs of the Participating Banks.

No expense incurred by the Company in respect of the Preferential Offering will be specifically charged to subscribers of the New Shares.

2. If there is no established market for the securities being offered, provide information regarding the manner of determining the offer price, the exercise price or conversion price, if any, including the person who establishes the price or is responsible for the determination of the price, the various factors considered in such determination and the parameters or elements used as a basis for determining the price.

Not applicable. The existing Shares are listed for quotation and traded on the Main Board of the SGX-ST.

3. If

(a) any of the relevant entity’s shareholders or equity interest-holders have pre-emptive rights to subscribe for or purchase the securities being offered; and

(b) the exercise of the rights by the shareholder or equity interest-holder is restricted, withdrawn or waived,

indicate the reasons for such restriction, withdrawal or waiver, the beneficiary of such restriction, withdrawal or waiver, if any, and the basis for the offer price.

(a) No Shareholder has pre-emptive rights to subscribe for the New Shares.

(b) As there may be prohibitions or restrictions against the offering of New Shares in certain jurisdictions, only Entitled Shareholders are eligible to participate in the Preferential Offering.

4. If securities of the same class as those securities being offered are listed for quotation on any securities exchange

(a) in a case where the first-mentioned securities have been listed for quotation on the securities exchange for at least 12 months immediately preceding the latest practicable date, disclose the highest and lowest market prices of the first-mentioned securities

i) for each of the 12 calendar months immediately preceding the calendar month in which the latest practicable date falls; and

ii) for the period from the beginning of the calendar month in which the latest practicable date falls to the latest practicable date; or

(b) in a case where the first-mentioned securities have been listed for quotation on the securities exchange for less than 12 months immediately preceding the latest practicable date, disclose the highest and lowest market prices of the first-mentioned securities

i) for each calendar month immediately preceding the calendar month in which the latest practicable date falls; and

ii) for the period from the beginning of the calendar month in which the latest practicable date falls to the latest practicable date;

(c) disclose any significant trading suspension that has occurred on the securities exchange during the 3 years immediately preceding the latest practicable date or, if the securities have been listed for quotation for less than 3 years, during the period from the date on which the securities were first listed to the latest practicable date;

and

(d) disclose information on any lack of liquidity, if the securities are not regularly traded on the securities exchange.

(a) The closing price range of the Shares traded on the SGX-ST for each of the 12 calendar months immediately preceding March 2008 and for 1 March 2008 to the Latest Practicable Date, are as follows:

Price Range

High (S$) Low (S$)

March 2007 3.12 2.97

April 2007 3.50 3.04

May 2007 3.88 3.30

June 2007 3.48 3.08

July 2007 3.26 3.00

August 2007 3.06 2.34

September 2007 3.34 3.00

October 2007 3.50 3.08

November 2007 3.44 2.75

December 2007 3.00 2.51

January 2008 3.19 2.18

February 2008 2.83 2.47

March 2008 2.47 1.80

April 2008⁽¹⁾ 2.14 2.14

Source: Bloomberg L.P.⁽²⁾

Notes:

(1) Up to the Latest Practicable Date.

(2) Bloomberg L.P. has not consented to the inclusion of the price range of Shares quoted under this paragraph for the purposes of Section 249 of the Securities and Futures Act and is therefore not liable for such information under Sections 253 and 254 of the Securities and Futures Act. The Company has included the above price range in its proper form and context in this Offer Information Statement and has not verified the accuracy of such information.

(b) Not applicable. The existing Shares have been listed for quotation on the Main Board of the SGX-ST for more than 12 months immediately preceding the Latest Practicable Date.

(c) None. There has not been any significant suspension in the trading of the existing Shares on the Main Board of the SGX-ST since the date of listing of the Shares to the Latest Practicable Date.

(d) None.

5. Where the securities being offered are not identical to the securities already issued by the relevant entity, provide

(a) statement of the rights, preferences and restrictions attached to the securities being offered; and

(b) an indication of the resolutions, authorisations and approvals by virtue of which the entity may create or issue further securities, to rank in priority to or pari passu with the securities being offered.

Not applicable.

Plan of Distribution

6. Indicate the amount, and outline briefly the plan of distribution, of the securities that are to be offered otherwise than through underwriters. If the securities are to be offered through the selling efforts of any broker or dealer, describe the plan of distribution and the terms of any agreement or understanding with such entities. If known, identify each broker or dealer that will participate in the offer and state the amount to be offered through each broker or dealer.

Basis of Provisional Allotment

The Preferential Offering is made on a non-renounceable, non-transferable basis to Entitled Shareholders on the basis of one (1) New Share for every ten (10) existing Shares held by Entitled Shareholders as at the Books Closure Date at the Preferential Offering Issue Price, fractional entitlements to be disregarded. The New Shares are payable in full upon acceptance and/or application and upon allotment and issue will rank pari passu in all respects with the then issued Shares for any dividends, rights, allotments or other distributions, the Record Date for which falls on or after the date of issue of the New Shares.

Entitled Shareholders will be at liberty to accept or decline their provisional allotments of New Shares and will be eligible to apply for additional New Shares in excess of their provisional allotments under the Preferential Offering. Provisional allotments which are not taken up for any reason shall be used to satisfy excess applications for New Shares or otherwise dealt with in such manner as the Directors may, in their absolute discretion, deem fit.

Shares (if any) under the Preferential Offering or disposed of or otherwise dealt with in such manner as the Directors may, in their absolute discretion, deem fit for the benefit of the Company.

In the allotment of excess New Shares, preference will be given to Shareholders for the rounding of odd lots, and Directors and Substantial Shareholders as well as the Undertaking Shareholders will rank last in priority.

The New Shares are not offered through any broker or dealer.

To demonstrate their commitment to the Group, each of the Undertaking Shareholders has subject to certain limited exceptions, unconditionally and irrevocably undertaken to the Joint Lead Managers not to, inter alia, offer, sell, contract to issue or grant any option to purchase, grant security over, encumber or otherwise dispose of any part of their respective shareholdings in the Company for the period from the date of their respective undertakings to 180 days after the Listing Date.

Foreign Shareholders

As there may be prohibitions or restrictions against the offering of New Shares in certain jurisdictions, only Entitled Shareholders are eligible to participate in the Preferential Offering.

Please refer to the section titled “Eligibility of Shareholders to Participate in the Preferential Offering” of this Offer Information Statement for further details.

7. Provide a summary of the features of the underwriting relationship together with the amount of securities being underwritten by each underwriter.

The Preferential Offering will not be underwritten.

Each of the Undertaking Shareholders has pursuant to their respective Undertakings irrevocably agreed to subscribe for all of their respective entitlements under the Preferential Offering and to apply by way of excess application for additional New Shares subject to certain conditions (please refer to Part III(4) of this Offer Information Statement for more details).

PART VII: ADDITIONAL INFORMATION