Certain comparative figures have been reclassified to conform with the current period's presentation. The following is a review of the operation of the major members of the Group. The latter is considered to be a landmark issue for the entire Yankee sector due to its size, which was the largest Yankee issue to date by an Asian bank outside of Japan, and since it was the first subordinated issue by a Hong Kong based bank. This has enabled Dao Heng to source additional Tier II capital and to develop a yield curve extending out to ten years at very competitive effective rates. DHBG's local branch network has reached 95 branches.
Rapid growth continues to take place in our credit card company.
The Group recently completed the acquisition of Lap Heng Company, Limited, a listed company in Hong Kong and changed its name to Guoco Land Limited. The management of GLL is currently reviewing joint venture opportunities with other major property developers in respect of Government Land auctions and other development projects both for commercial and residential properties. FCC's primary business activities continue to be in property investment and development both in and outside Singapore. FCC enlarged its land bank by acquiring 5 additional plots of land totalling approximately 71,200 sq. The Group's insurance, stockbroking and fund management business recorded satisfactory results during the period under review.