Overseas taxation is calculated at the rates prevailing in the respective jurisdictions.
The weighted average number of ordinary shares for the purposes of basic earnings per share has been adjusted for the right issue on 15th May, 1998. The computation of diluted earnings per share does not assume the conversion of the Company's outstanding convertible notes since their exercise would result in an increase in net profit per share from continuing operations. The Board of Directors does not recommend a final dividend for the year ended 31st December, 1998. The reduction in the Group's overall turnover was attributable to a substantial fall in the trading of printing machines and steel as a result of financial turmoil in Asia. Earnings per share was 3.84 HK cents.