As of December 31, 2006, UOB KAY HIAN HOLDINGS (UOBKH) is the major shareholder of the Company, holding 76.92% of the total shares issued. UOBKH was formed from the merger of Kay Hian Holdings, a Singaporean stockbroking stalwart, and UOB Securities, the stockbroking arm of banking giant United Overseas Bank in Singapore. The merger was carried out through a share swap in 2000.   The former Kay Hian was an agency broker in Singapore and Malaysia securities for retail clients, and institutions such as MNCs, government agencies and pension funds. UOBKH's role will remain unchanged. However, the merger enables UOBKH to leverage on UOB Securities' stockbroking business in various parts of Asia and reinforces our market and product positioning.   Through the merger, UOBKH has extended its geographical reach as well as customer base. It plans to comprehensively cover the ASEAN and Hong Kong / China markets eventually. UOBKH will also continue to strengthen its institutional business, focusing on the US and European markets besides the Asian financial centers. Alliances with global broking houses will also be forged, to broaden the customer base.   In 2001, acquisition of the retail arm of Credit Suisse First Boston Securities in Singapore, RHB Cathay Securities and OUB Securities further enlarged UOBKH's retail network. It is now positioned as a top stockbroking house in its home market, by retail broking size.   Being part of the merged UOB / OUB family, UOBKH also has opportunities to tap on the banks' competitive strengths and cross-sell products. UOBKH has broadened its business to cover fund management, unit trusts, derivatives trading and corporate finance.   During 2002, UOBKH has acquired Worldsec International, a Hong Kong-based Brokerage Firm. The acquisition has given the group of a foothold in the China Equities Market as well as a strong institutional research and dealing team in Thailand.   For more information on UOB KayHian Holdings, please check out their web site at http://www.uobkayhian.com Or more information on United Overseas Bank Group, please check out http://www.uobgroup.com.