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Announcement for the consolidation on behalf of High Tech Computer Asia Pacific Pte. Ltd.
1.Kind of merger/acquisition (e.g.merger, consolidation, spin-off, acquisition, or receiving assignment of shares):consolidation
2.Date of occurrence of the event:2010/01/28
3.Names of companies participating in the merger (e.g.name of the other company participating in the merger or consolidation, newly established company in a spin-off, acquired company, or company whose shares are taken assignment of): High Tech Computer Asia Pacific Pte. Ltd. and High Tech Computer Singapore Pte. Ltd.
4.Counterparty (e.g.name of the other company participating in the merger or consolidation, company taking assignment of the spin-off, or counterparty to the acquisition or assignment of shares): High Tech Computer Singapore Pte. Ltd.
5.Relationship between the counterparty and the Company (investee company in which the Company has re-invested and has shareholding of XX%), and explanation of the reasons for the decision to acquire, or take assignment of the shares of, an affiliated enterprise or related person, and whether it will affect shareholders' equity:
1.High Tech Computer Singapore Pte. Ltd. is wholly owned by High Tech Computer Asia Pacific Pte. Ltd.
2.The reorganization of company’s overseas Subsidiaries’investment structure
3.It will not affect shareholder's equity
6.Purpose/objective of the merger/acquisition: The reorganization of company’s overseas Subsidiaries’investment structure
7.Anticipated benefits of the merger/acquisition: To integrate the resource of Singapore subsidiaries and reduce management cost
8.Effect of the merger or consolidation on net worth per share and earnings per share:None
9.Share exchange ratio and basis of its calculation:N/A
10.Scheduled timetable for consummation: Effective date will be February 28, 2010
11.Matters related to assumption by the existing company or new company of rights and obligations of the extinguished (or spun-off) company: The continuing company will assume the rights and obligations of assets and liabilities of the extinguished company.
12.Basic information of companies participating in the merger:
1.The principle activities of High Tech Computer Asia Pacific Pte. Ltd are international investment.
2.The principle activities of High Tech Computer Singapore Pte. Ltd are market development, repair and after-sales services.
13.Matters related to the spin-off (including estimated value of the business and assets planned to be assigned to the existing company or new company; the total number and the types and volumes of the shares to be acquired by the split company or its shareholders; matters related to the reduction, if any, in capital of the split company) (note: not applicable other than where there is announcement of a spin-off):N/A
14.Conditions and restrictions on future transfers of shares resulting from the merger or acquisition:None
15.Other important stipulations:None
16.Do the directors have any objection to the present transaction?:None