We expect the business environment to remain difficult and competitive in 2010. On the positive side, demand for our products and services is expected to be strong in the foreseeable future as Hainan Province has been slated to be transformed into an international tourist destination (“国际旅游岛“) by 2020. Barring unforeseen circumstances, we expect the Group to return to profitability for the year ending 31 December 2010. Also, management targets to resume production of the ACC plant which ceased in September 2008 in the foreseeable future, when with the expected completion of planned modifications and additional capital expenditure, the leasing of additional storage space adjoining the ACC plant, as well as the re-affirmation of the commercial viability of the ACC plant and product, HHBM may contribute positively to the Group’s profitability. Should our plans not pan out, and the ACC plant remain dormant by the end of the current financial year ending 31 December 2010, further allowances for impairment against the ACC plant shall be expected.

Our factory in Sanya is expected to further increase its annual production volume in 2010.

We expect to resume production of aerated concrete (“ACC”) in 2010.

ACC is a strong, lightweight and heat resistant material with the ability to retain heat.

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Ms Li Zhangjiang De Malca
(Executive Chairman and Managing Director)

Mr Cui Zhongwei
(Executive Director)
Mr Li Baogang
(Non-Executive Director)
Mr Toh Hai Joo
(Independent Director)
Mr Tan Huay Pin
(Independent Director)

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