In July, we carried out a rebranding exercise and changed our corporate identity to “Eindec”,and adopted our Chinese name “英德”, to better reflect our Group’s business direction and future growth. This was in line with our business expansion plan in the PRC market and product diversification from industrial type products of the Clean Room and HVAC Business to other products such as environmental and technological solutions products.

As part of the corporate identity rebranding exercise, we have unveiled the new “Eindec” logo, incorporated new entities with names containing “Eindec” and changed the company names of existing entities within our Group to also contain “Eindec”.

We developed a work plan to leverage on our existing technological expertise in clean room equipment in our objective to venture into the consumer air purifier market. We also continued to enhance our existing business relationships, including our relationship with Liang Chi, the manufacturer of the cooling towers which we distribute.

We expanded the manufacture and distribution of marine dampers into the offshore oil and gas sectors of the PRC market.

During the 4^th quarter, we completed the design and prototype of our own brand of air purifiers, representing a major milestone in our history. Our own brand of air purifiers has been launched in the PRC and we are taking steps to assess the possibility of further expansion in the PRC market and subsequently to regional countries.

Weiye undertook the Reverse Takeover, and appointed a new board of directors. The Clean Room and HVAC Equipment Business of Kyodo-Allied Industries was retained as a business segment within the Weiye group of companies, and continued to be separately operated and managed in the Weiye group by the then existing management team of Kyodo-Allied Industries prior to the Reverse Takeover.

Kyodo-Allied Industries was listed on the SGX-Sesdaq, and was subsequently transferred to the Main Board of the SGX-ST in 2004.

Throughout the 2000s, we continued to grow and strengthen our presence in the region by carrying out increased marketing and sales activities in the region, and enhancing recognition of the “Kyodo” brand.

We also set up a representation office in Shanghai and stepped up our marketing efforts in the PRC in order to tap on the rapidly growing market there.

We implemented a second expansion to our Facility in Malaysia in order to accommodate further expansion in our business,. We continued to place strong emphasis on our R&D efforts.

We were awarded ISO 9002 certification for quality system management in the manufacture of our clean room equipment and HVAC equipment in December 1996.

We set up an acoustic testing laboratory at our Singapore plant to enhance our R&D capabilities.

We also entered into a service agreement with Underwriters Laboratories, Inc. for the manufacture of some of their products in Singapore.

We entered into a distribution and licensing agreement with Ruskin Company, pursuant to which we were appointed as an authorised distributor and licensee of Ruskin products in Singapore and Malaysia.

We established Eindec Malaysia and Kyodo-Allied (Thailand), respectively, in order to better serve our clients and increase our presence in these countries.

We continued to grow and expand our manufacturing operations and facilities to meet the growing demand for our clean room equipment and HVAC equipment.

We ventured into the supply and distribution of cooling towers when we successfully bid for the sole and exclusive distributorship in Singapore of cooling towers manufactured by Liang Chi Industry Co., Ltd, a contractual arrangement which still subsists today.