1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year

	Group (S$'000)	Group (S$'000)	% Increase/ (Decrease)	Group (S$'000)	Group (S$'000)	% Increase/ (Decrease)
	July-Sept 2003	July-Sept 2002		Jan-Sept 2003	Jan-Sept 2002
Revenue	36,081	28,646	25.95	94,223	72,959	29.15
Costs and expenses
Changes in inventories in finished goods	(1,231)	676	NM	29	3,054	(99.05)
Raw materials and consumables used (Note 1)	(16,131)	(14,083)	14.54	(45,010)	(37,444)	20.21
Depreciation and amortisation expenses	(380)	(267)	42.32	(1,051)	(755)	39.21
Foreign exchange gain/(loss)	(400)	(424)	(5.66)	(437)	(1,331)	(67.17)
Other operating expenses	(15,033)	(9,584)	56.86	(38,883)	(24,664)	57.65
Other income	55	58	(5.17)	78	128	(39.06)
Total costs and expenses	(33,120)	(23,624)	40.20	(85,274)	(61,012)	39.77
Profit from operating activities	2,961	5,022	(41.04)	8,949	11,947	(25.09)
Finance costs	(43)	(12)	NM	(78)	(40)	95.00
Share of loss of associated company	(2)	(102)	(98.04)	(97)	(194)	(50.00)
Profit before taxation	2,916	4,908	(40.59)	8,774	11,713	(25.09)
Taxation (Note 2)	(448)	(1,292)	(65.33)	(1,752)	(2,667)	(34.31)
Minority interests, net of taxation	(319)	(381)	(16.27)	(1,149)	(997)	15.25
Profit after taxation and minority interests	2,149	3,235	(33.57)	5,873	8,049	(27.03)

NM- Not meaningful

Note 1: The movements in raw materials and consumables used are proportionately the same as the increase in revenue due to the changes in inventories of finished goods.

Note 2: The change in effective tax rate for this quarter is due to tax incentives enjoyed by a subsidiary company which was only adjusted in the current quarter.



1(b)(i) A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year

	Group	Group	Company	Company
	30/09/2003 (S$'000)	31/12/2002 (S$'000)	30/09/2003 (S$'000)	31/12/2002 (S$'000)
Assets Less Liabilities
Non Current Assets
Fixed assets (Note 1)	14,084	11,994	-	-
Investments in subsidiary companies	-	-	12,676	12,676
Investment in associated company (Note 2)	1,165	448	1,242	428
Deferred tax assets	288	218	-	-
Intangible assets	44	59	-	-
	15,581	12,719	13,918	13,104
Current assets
Cash and bank balances	7,076	8,122	27	47
Trade receivables (Note 3)	19,281	15,880	-	-
Prepayments, other deposits and other receivables	4,628	3,840	111	108
Amount due from subsidiary companies	-	-	18,071	21,306
Amount due from associated company	191	991	191	991
Inventories	27,800	29,221	-	-
	58,976	58,054	18,400	22,452
Current liabilities
Trade payables	(7,760)	(10,619)	-	-
Bills Payable	(2,510)	(167)	-	-
Other payables (Note 3)	(6,314)	(4,210)	(212)	(211)
Finance lease liabilities	-	(7)	-	-
Provision for taxation	(1,738)	(2,599)	(32)	(2)
	(18,322)	(17,602)	(244)	(213)
Net current assets	40,654	40,452	18,156	22,239
Non-Current Liabilities
Finance lease liabilities	-	(28)	-	-
Deferred tax liabilities	(306)	(306)	-	-
	(306)	(334)	-	-
Net assets	55,929	52,837	32,074	35,343
Equity
Share capital	17,200	17,200	17,200	17,200
Reserves	35,631	33,142	14,874	18,143
	52,831	50,342	32,074	35,343
Minority interest	3,098	2,495	-	-
	55,929	52,837	32,074	35,343

Notes:

1. The increase in fixed assets was a result of investment in machinery and expansion of factories.
2. Investment in associated company increased as a result of an increase in its equity.
3. The increase in trade receivables and other payables was in line with the increase in revenue.



1(b)(ii) Aggregate amount of group's borrowings and debt securities

Amount repayable in one year or less, or on demand

As at 30/09/2003

As at 31/12/2002

Secured	Unsecured	Secured	Unsecured
(S$'000) 0	(S$'000) 2,510	(S$'000) 0	(S$'000) 174

Amount repayable after one year

As at 30/09/2003

As at 31/12/2002

Secured	Unsecured	Secured	Unsecured
(S$'000) 0	(S$'000) 0	(S$'000) 0	(S$'000) 28

Details of any collateral

NIL


1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year

	3 mths ended 30 Sept 2003	3 mths ended 30 Sept 2002	9 mths ended 30 Sept 2003	9 mths ended 30 Sept 2002
	(S$'000)	(S$'000)	(S$'000)	(S$'000)
Cash flows from operating activities:
Profit from ordinary activities before taxation and minority interests	2,916	4,908	8,774	11,713
Adjustments for:
Amortisation of goodwill	5	5	15	16
Depreciation of fixed assets	375	262	1,036	739
Exchange realignment	(80)	30	(40)	(101)
Loss on disposal of fixed assets	4	5	245	9
Interest income	-	(10)	(3)	(30)
Interest expense	43	12	78	40
Share of loss of associated company	2	102	97	194
Capital reserve written off	-	-	-	(16)
Operating income before reinvestment in working capital	3,265	5,314	10,202	12,564
Increase in receivables	(2,326)	(2,551)	(4,188)	(3,782)
Decrease/ (Increase) in inventories	4,298	318	1,421	(896)
(Decrease)/ Increase in payables	(687)	776	1,587	1,313
Cash generated from operations	4,550	3,857	9,022	9,199
Income taxes paid	(994)	(1,817)	(2,688)	(4,231)
Net cash generated from operating activities	3,556	2,040	6,334	4,968
Cash flows from investing activities
Interest received	-	10	3	30
Purchase of fixed assets	(1,129)	(540)	(3,469)	(1,563)
Proceeds on maturity of other financial asset	-	-	-	500
Proceeds from sale of fixed assets	121	10	121	14
Dividends paid to minority shareholder of subsidiary company	(537)	-	(537)	-
Loan to associated company	-	(193)	-	(193)
Net cash used in investing activities	(1,545)	(713)	(3,882)	(1,212)