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PTE. LTD.
DIRECTORS’ REPORT
For the financial year ended 30 November 2010
The directors present their report to the members together with the unaudited financial statements for
the financial year ended 30 November 2010.
Directors
The directors in office at the date of this report are as follows:
AAA
BBB
Arrangements to enable directors to acquire shares or debentures
Neither at the end of nor at any time during the financial year was the Company a party to any
arrangement, the object was to enable the directors to acquire benefits by means of the acquisition of
shares in, or debentures of, the Company or any other body corporate.
Directors’ interest in shares or debentures
According to the register of directors’ shareholdings, none of the directors holding office at the end of
the financial year had any interest in the shares or debentures of the Company or its related
corporations, except as follows:
Holdings registered in name of directors

Name of directors At 30.11.2010 At 1.12.2009
No. of ordinary shares
AAA 100 100
BBB 0 0
Directors’ contractual benefits
Since the end of the last financial year, no director has received or become entitled to receive a benefit
by reason of a contract made by the Company or a related corporation with the director or with a firm
of which he is a member or with a company in which he has a substantial financial interest, except as
disclosed in the accompanying financial statements and in this report, and except that certain directors
receive remuneration as a result of their employment with related corporations.
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PTE. LTD.
DIRECTORS’ REPORT
Share options
No options were granted during the financial year to subscribe for unissued shares of the Company.
No shares were issued during the financial year by virtue of the exercise of options to take up
unissued shares of the Company.
There were no unissued shares of the Company under option as at the end of the financial year.
Audit exemptions
For the financial year ended 30 November 2010, the Company is exempted from audit requirements
as its revenue for the year does not exceed the prescribed amount pursuant to Companies Act Chapter
50.
No notice has been received from any member under Section 205B (6) of the Companies Act
requiring the Company to obtain an audit of its financial statements in relation to the financial period.
The accounting and other records required to be kept by the Company in accordance with Section 199
of Act has been so kept.
On behalf of the directors
_______________________________
AAA
Director
Dated:
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PTE. LTD.
STATEMENT BY DIRECTORS
In the opinion of the directors,
(a) the unaudited financial statements as set out on pages 4 to 18 are drawn up so as to give a true
and fair view of the state of affairs of the Company as at 30 November 2010 and of the
results, changes in equity and cash flows of the Company for the financial year then ended;
and
(b) at the date of this statement, there are reasonable grounds to believe that the Company will be
able to pay its debts as and when they fall due.
On behalf of the directors
_______________________________
AAA
Director
Dated:
3
PTE. LTD.
UNAUDITED STATEMENT OF FINANCIAL POSITION

As at 30 November 2010
2010 2009
Note $ $
Assets
Non-current assets
Plant and equipment 4 5,660 3,689
Current assets
Trade and other receivables 5 46,494 45,782
Cash and cash equivalents 277 11,919
46,771 57,701
Total assets 52,431 61,390
Liabilities
Current liabilities
Other payables 6 8,638 6,878
Amount owing to directors 7 42,000 42,000
Income tax payable 248 248
50,886 49,126
Total liabilities 50,886 49,126
Net assets 1,545 12,264
Equity
Share capital 8 100 100
Retained earnings 1,445 12,164
Total equity 1,545 12,264
The accompanying notes form an integral part of these unaudited financial statements
4
PTE. LTD.
UNAUDITED STATEMENT OF COMPREHENSIVE INCOME

2010 2009
$ $
Continuing operations
Revenue 9 216,182 263,071
Cost of sales 10 (107,351) (192,788)
Gross profit 108,831 70,283
Other items of expense
Operating expenses 10 (119,550) (62,793)
(Loss)/profit before income tax (10,719) 7,490
Income tax expense 12 - (206)
(Loss)/profit from continuing operations (10,719) 7,284
5
PTE. LTD.
UNAUDITED STATEMENT OF CHANGES IN EQUITY

Share Retained Total

capital earnings equity
$ $ $
2010
Beginning of financial year 100 12,164 12,264
Loss for the financial year - (10,719) (10,719)
End of financial year 100 1,445 1,545
2009
Beginning of financial year 100 4,880 4,980
Profit for the financial year - 7,284 7,284
End of financial year 100 12,164 12,264
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PTE. LTD.
UNAUDITED STATEMENT OF CASH FLOWS

2010 2009
$ $
Cash flows from operating activities
Adjustments for:
Depreciation of plant and equipment 2,029 3,409
Operating (loss)/profit before changes in working capital (8,690) 10,899

Changes in working capital
Trade and other receivables (712) 60
Other payables 1,760 81
Net cash (used in)/provided by operating activities (7,642) 11,040
Cash flows from investing activities

Additions to plant and equipment (4,000) (2,490)
Net cash used in investing activities (4,000) (2,490)
Net (decrease)/increase in cash and cash equivalents (11,642) 8,550

Cash and cash equivalents* at beginning of financial year 11,919 3,369
Cash and cash equivalents* at end of financial year 277 11,919

* Cash and cash equivalents comprise cash on hand and at bank
7
PTE. LTD.
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

These notes form an integral part of and should be read in conjunction with the accompanying
unaudited financial statements.
1. General information
The Company is incorporated and domiciled in Singapore. The address of its registered office is 66
Singapore 12345.
The principal activities of the Company are those of media design.
2. Significant accounting policies
2.1 Basis of preparation
The financial statements have been prepared in accordance with Singapore Financial
Reporting Standards (“FRS”). The financial statements have been prepared under the
historical cost convention, except as disclosed in the accounting policies below.
The preparation of these financial statements in conformity with FRS requires management
to exercise its judgement in the process of applying the Company’s accounting policies. It
also requires the use of certain critical accounting estimates and assumptions, The areas
involving a higher degree of judgement or complexity, or areas where estimates and
assumptions are significant to the financial statements are disclosed in Note 3.
In the current financial year, the Company had adopted all the new and revised FRS and
Interpretations of FRS (“INT FRS”) that are relevant to its operations and effective for the
current financial year. The adoption of these new / revised FRSs has no material effect on
the financial statements except for the adoption of the following new or revised FRS which
are relevant to the Company.
FRS 1 (revised) Presentation of Financial Statements
The revised FRS 1 separates owner and non-owner changes in equity. The statement of
changes in equity includes only details of transactions with owners, with all non-owner
changes in equity presented in the statement of other comprehensive income. In addition,
the Standard introduces the statement of comprehensive income which presents income and
expense recognised in the period. This statement may be presented in one single statement,
or two linked statements. The Company has elected to present this statement as one single
statement.
The Company has not applied standards and interpretations that have been issued as of the
balance sheet date but are not yet effective. The initial application of these standards and
interpretations are not expected to have any material impact on the Company’s financial
statements. The Company has not considered the impact of standards and interpretations
issued after balance sheet date.
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PTE. LTD.

2. Significant accounting policies (cont’d)
2.1 Basis of preparation (cont’d)
The following Standards and Interpretations that have been issued but not yet effective:
Effective for annual

periods beginning
Description on or after
Improvements to FRSs issued in 2009:

- Amendments to FRS 1 Presentation of Financial Statements 1 January 2010
- Amendments to FRS 7 Statement of Cash Flows 1 January 2010
- Amendments to FRS 36 Impairment of Assets 1 January 2010
- FRS 39 Financial Instruments: Recognition and Measurement 1 January 2010
2.2 Plant and equipment
Plant and equipment are recognised at cost less accumulated depreciation and accumulated
impairment losses.
Subsequent expenditure relating to plant and equipment that has already been recognised is
added to the carrying amount of the asset only when it is probable that future economic
benefits associated with the item will flow to the Company and the cost of the item can be
measured reliably.
Depreciation is calculated using the straight-line method to allocate their depreciable

amounts over their estimated useful lives as follows:
Useful lives
Computer 3 years
Furniture and fittings 5 years
Renovation 5 years
The residual values, estimated useful lives and depreciation method of plant and equipment
are reviewed, and adjusted as appropriate, at each balance sheet date. The effects of any
revision are recognised in profit or loss when the changes arise.
2.3 Impairment of non-financial assets
Plant and equipment are reviewed for impairment whenever there is any indication that
these assets may be impaired.
If the recoverable amount of the asset is estimated to be less than its carrying amount, the
carrying amount of the asset is reduced to its recoverable amount. The difference between
the carrying amount and recoverable amount is recognised as an impairment loss in profit
or loss.
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PTE. LTD.

2.3 Impairment of non-financial assets (cont’d)
An impairment loss for an asset is reversed if, and only if, there has been a change in the
estimates used to determine the asset’s recoverable amount since the last impairment loss
was recognised. The carrying amount of this asset is increased to its revised recoverable
amount, provided that this amount does not exceed the carrying amount that would have
been determined (net of any accumulated amortisation or depreciation) had no impairment
loss been recognised for the asset in prior years. A reversal of impairment loss for an asset
is recognised in profit or loss.
2.4 Loans and receivables
Cash and bank balances

Trade and other receivables
Cash and bank balances, trade and other receivables are initially recognised at their fair
value, plus transaction costs and subsequently carried at amortised cost using effective
interest method, less accumulated impairment loss.
The Company assesses at each balance sheet date whether there is objective evidence that
these financial assets are impaired and recognises an allowance for impairment when such
evidence exists. Significant financial difficulties of the debtor, probability that the debtor will
enter bankruptcy and default or significant delay in payments are objective evidence that
these financial assets are impaired.
The carrying amount of these assets is reduced through the use of an impairment allowance
account which is calculated as the difference between the carrying amount and the present
value of estimated future cash flows, discounted at the original effective interest-rate.
These assets are presented as current assets except for those that are expected to be realised
later than 12 months after the balance sheet date, which are presented as non-current assets.
2.5 Trade and other payables
Trade and other payables represent liabilities for goods and services provided to the
Company prior to the end of financial year which are unpaid. They are classified as current
liabilities if payment is due within one year or less (or in the normal operating cycle of the
business if longer). If not, they are presented as non-current liabilities.
Trade and other payables are initially recognised at fair value, and subsequently carried at
amortised cost using the effective interest method.
2.6 Cash and cash equivalents
For the purpose of presentation in the statement of cash flows, cash and cash equivalents
include cash on hand, deposits with financial institutions which are subject to an insignificant
risk of change in value.
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PTE. LTD.

2.7 Currency translation
The financial statements are presented in Singapore Dollar, which is the functional currency
of the Company.
2.8 Revenue recognition
Sales of goods are recognised when the Company has delivered the products to the
customers, the customers have accepted the products and the collectability of the related
receivables is reasonably assured. Sales are presented, net of goods and services tax, rebates
and discounts.
Revenue from the rendering of services is measured at the fair value of the consideration
received or receivable, net of goods and services taxes or other sales taxes and trade
discounts.
2.9 Employee compensation
(a) Defined contribution plans
The Company’s contributions to defined contribution plans are recognised as employee

compensation expense when the contributions are due, unless they can be capitalized as
asset.
(b) Employee leave entitlement
Employee entitlements to annual leave are recognised when they accrue to employees. A
provision is made for the estimated liability for annual leave as a result of services
rendered by employees up to the balance sheet date.
2.10 Operating lease payments
Payments made under operating leases (net of any incentives received from the lessors) are
recognised in profit or loss on a straight-line basis over the period of the lease.
Contingent rents are recognised as an expense in profit or loss when incurred.
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PTE. LTD.

2.11 Income taxes
Current income tax is recognised at the amount expected to be paid or recovered from the tax
authorities.
Deferred income tax is recognised for all temporary differences except when the deferred
income tax arises from the initial recognition of an asset or liability that affects neither
accounting nor taxable profit or loss at the time of the transaction.
Current and deferred income tax is measured using the tax rates and tax law that have been
enacted or substantively enacted by the balance sheet date, and are recognised as income or
expenses in profit or loss, except to the extent that the tax arises from a transaction which is
recognised directly in equity.
2.12 Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance
of new ordinary shares are deducted against share capital.
3. Significant accounting judgements and estimates
Estimates, assumptions and judgements are continually evaluated and are based on historical
experience and other factors, including expectations of future events that are believed to be
reasonable under the circumstances.
Uncertain tax positions
In determining the income tax liabilities, management has made certain estimates on the amount of
expenses deductible (“uncertain tax positions”). The Company has significant open tax assessments
with one tax authority at the balance sheet date. As management believes that the tax positions are
sustainable, the Company has not recognised any additional tax liability on these uncertain tax
positions. The maximum exposure of these uncertain tax positions, not recognised in these financial
statement is $300,000.
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PTE. LTD.

4. Plant and equipment
Furniture
Computer and fittings Renovation Total
$ $ $ $
2010
Cost
Beginning of financial year 2,490 5,920 7,228 15,638
Additions - - 4,000 4,000
End of financial year 2,490 5,920 11,228 19,638
Accumulated depreciation
Beginning of financial year - 5,672 6,277 11,949
Depreciation charge (Note 10) 830 248 951 2,029
End of financial year 830 5,920 7,228 13,978
Net book value

End of financial year 1,660 - 4,000 5,660
2009
Cost
Additions 2,490 - - 2,490
End of financial year 2,490 5,920 7,228 15,638
Accumulated depreciation
Depreciation charge (Note 10) - 1,000 2,409 3,409
End of financial year - 5,672 6,277 11,949
Net book value

End of financial year 2,490 248 951 3,689
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PTE. LTD.

5. Trade and other receivables

2010 2009
$ $
Trade receivables 44,294 43,582

Deposits 2,200 2,200
46,494 45,782
Concentration of credit risk relating to trade receivables is limited to the Company’s many varied
customers. The Company’s historical experience the collection of accounts receivables falls within
the recorded impairment. Due to these factors, management believes that no additional credit risk
beyond amounts provided for collections losses is inherent in the Company’s trade receivables.
6. Other payables
2010 2009
$ $
Other payables 1,998 1,998

Accruals 6,640 4,880
8,638 6,878
7. Amount owing to directors
The amount owing to directors is unsecured, non-trade in nature, interest free and repayable on
demand.
8. Share capital
The Company’s share capital comprise fully paid-up 100 (2009: 100) ordinary shares with no par
value, amounting to a total of $100 (2009: $100).
9. Revenue
Revenue represents invoiced services rendered to customers, less sales discounts and return.
14

PTE. LTD.

10. Expenses by nature
2010 2009
$ $
Cost of sales 107,351 192,788

Depreciation of plant and equipment (Note 4) 2,029 3,409
Employee compensation (Note 11) 64,574 30,616
Directors’ fees - 2,000
Rental on operating expenses 11,200 11,500
Other expenses 41,747 15,268
Total cost of sales and other operating expenses 226,901 255,581
11. Employee benefits expenses
2010 2009
$ $
Directors
- Salaries and related costs 29,500 24,000
- Employer’s Central Provident Fund contributions 4,846 4,856
Other staffs
- Salaries and related costs 26,400 1,760
- Employer’s Central Provident Fund contributions 3,828 -
64,574 30,616
12. Income tax expenses
2010 2009
$ $
Tax expense attributable to profit is made up of:

- Current income tax - 206
15

PTE. LTD.

12. Income tax expenses (cont’d)
The tax on profit before tax differs from the theoretical amount that would arise using the
Singapore standard rate of income tax as follows:
2010 2009
$ $
Tax calculated at tax rate of 17% (2009: 17%) (1,822) 1,273

Effects of:
- statutory stepped income exemption - (617)
- expenses not deductible for tax purposes 356 580
- utilisation of capital allowances and losses - (1,030)
- Deferred tax assets not recognised 1,466 -
Tax charge - 206
The Company has estimated unutilised tax losses of $8,600 (2009: $Nil) available for offsetting
against future taxable income subject to compliance with certain provisions of the Singapore
Income Tax Act and agreement with tax authorities. Deferred tax assets have not been recognised
because it is not probable that future taxable profit will be available against which the Company
can utilise the benefits.
13. Financial risk management
(a) Interest rate risk
The Company’s income and operating cash flows are substantially independent of changes
in market interest rates and the Company has no bank borrowings.
(b) Foreign currency risk
The Company’s operational activities are mainly carried out in Singapore dollars. The risk
arising from movements in foreign exchange rates is minimised as the Company has
minimal transactions in foreign currency.
(c) Credit risk
The carrying amount of cash and cash equivalents, trade and other receivables and
payables represent the Company’s maximum exposure to credit risk in relation to
financial assets. No other financial assets carry a significant exposure to credit risk.
Cash and cash equivalents are placed with reputable local financial institutions.
Therefore, credit risk arises mainly from the inability of its customers to make payments
when due. Trade receivables presented in the balance sheet are net of impairment for
receivables, estimated by management based on prior experience and the current
economic environment.
16

PTE. LTD.

13. Financial risk management (cont’d)
(d) Liquidity risk
The table below analyses the Company’s non-derivative financial liabilities into relevant
maturity groupings based on the remaining period from the balance sheet date to the
contractual maturity date. The amounts disclosed in the table are the contractual
undiscounted cash flows.
Between 1 Between 2
Less than and 2 and 5
1 year years years
$ $ $
At 30 November 2010
Other payables 8,638 - -
Amount owing to directors 42,000 - -
50,638 - -
At 30 November 2009
Trade and other payables 6,878 - -
Amount owing to directors 42,000 - -
48,878 - -
(e) Capital risk
The Company’s objectives when managing capital are to ensure that the Company is able
to continue as a going concern and maintains an optimal capital structure by issuing or
redeeming additional equity and debts instruments when necessary.
The Board of Directors monitors its capital based on net debt and total capital. Net debt is
calculated as borrowings plus trade and other payables less cash and cash equivalents.
Total capital is calculated as equity plus net debt.
2010 2009
$ $
Net debt 50,361 36,959

Total equity 1,545 12,264
Total capital 51,906 49,223
The Company is not subject to any externally imposed capital requirements.
17

PTE. LTD.

13. Financial risk management (cont’d)
(e) Fair values
The carrying values of cash and cash equivalents, trade and other receivables and payables,
and other liabilities, base on their notional amounts, reasonably approximate their fair
values because these are mostly short term in nature or are repriced frequently.
14. Authorisation of unaudited financial statements
These unaudited financial statements were authorised for issue in accordance with a resolution of the
Board of Directors of Pte. Ltd. dated __________________________.
18

PTE. LTD.
DETAILED STATEMENT OF COMPREHENSIVE INCOME

2010 2009
$ $
Revenue 216,182 263,071
Cost of sales (107,351) (192,788)
Gross profit 108,831 70,283
Other items of expense
Operating expenses
Bank charges 181 76

CPF 3,828 -
Depreciation of plant and equipment 2,029 3,409
Directors’ fees - 2,000
Directors’ remuneration 29,500 24,000
Directors’ remuneration – Employer CPF 4,846 4,856
Freelance fees 18,780 -
Insurance 151 -
Interest - others 65 21
OE/F&F/Computer – Non Cap - 755
Office supplies 773 354
Periodic and books 3,829 263
Postage and courier 137 -
Printing and stationery 1,531 338
Professional fees – Accounting/FRS/Secretary 840 2,060
Rental of office 11,200 11,500
Repair and maintenance 950 1,193
Salary – Contract and Temp Staff 26,400 1,760
Telecommunications 3,854 1,389
Transport – Taxi and mileage 6,616 7,164
Utilities 4,040 1,655
Total expenses 119,550 62,793
This statement does not form part of the unaudited financial statements of the Company

PTE. LTD.
(Incorporated in Singapore)
(Company Reg. No: 20000000E)
UNAUDITED FINANCIAL STATEMENTS –

FOR THE FINANCIAL YEAR ENDED
30 NOVEMBER 2010
CONTENTS PAGE
Directors’ Report 1-2
Statement by Directors 3
Unaudited Statement of Financial Position 4
Unaudited Statement of Comprehensive Income 5
Unaudited Statement of Changes in Equity 6
Unaudited Statement of Cash Flows 7
Notes to the Unaudited Financial Statements 8-18

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PTE. LTD.

The directors in office at the date of this report are as follows:

Arrangements to enable directors to acquire shares or debentures

Directors’ interest in shares or debentures

Holdings registered in name of directors

Directors’ contractual benefits

On behalf of the directors

In the opinion of the directors,

On behalf of the directors

UNAUDITED STATEMENT OF FINANCIAL POSITION

Total assets 52,431 61,390

Total liabilities 50,886 49,126

Net assets 1,545 12,264

Total equity 1,545 12,264

UNAUDITED STATEMENT OF COMPREHENSIVE INCOME

Revenue 9 216,182 263,071

Cost of sales 10 (107,351) (192,788)

Gross profit 108,831 70,283

Other items of expense

Operating expenses 10 (119,550) (62,793)

(Loss)/profit before income tax (10,719) 7,490

Income tax expense 12 - (206)

(Loss)/profit from continuing operations (10,719) 7,284

UNAUDITED STATEMENT OF CHANGES IN EQUITY

Share Retained Total

Loss for the financial year - (10,719) (10,719)

End of financial year 100 1,445 1,545

Profit for the financial year - 7,284 7,284

End of financial year 100 12,164 12,264

UNAUDITED STATEMENT OF CASH FLOWS

Operating (loss)/profit before changes in working capital (8,690) 10,899

Net cash (used in)/provided by operating activities (7,642) 11,040

Cash flows from investing activities

Net cash used in investing activities (4,000) (2,490)

Net (decrease)/increase in cash and cash equivalents (11,642) 8,550

Cash and cash equivalents* at end of financial year 277 11,919

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

The principal activities of the Company are those of media design.

2. Significant accounting policies

2.1 Basis of preparation

FRS 1 (revised) Presentation of Financial Statements

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

2. Significant accounting policies (cont’d)

2.1 Basis of preparation (cont’d)

Effective for annual

Improvements to FRSs issued in 2009:

2.2 Plant and equipment

Depreciation is calculated using the straight-line method to allocate their depreciable

2.3 Impairment of non-financial assets

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

2. Significant accounting policies (cont’d)

2.3 Impairment of non-financial assets (cont’d)

2.4 Loans and receivables

Cash and bank balances

2.5 Trade and other payables

2.6 Cash and cash equivalents

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

2. Significant accounting policies (cont’d)

2.7 Currency translation