Asiaone 1-42

FINANCIAL STATEMENTS
Statement of Changes in Shareholders’ Equity for the financial years ended August
31, 1997, 1998 and 1999 and for the six-month period ended February 29, 2000
Total
Share Retained shareholders’
(All figures in thousands) capital earnings equity
S$ S$ S$
Balance at September 1, 1996 — (4,572) (4,572)
Net loss for the financial year — (734) (734)
Balance at August 31, 1997 — (5,306) (5,306)
Net profit for the financial year — 707 707
Balance at August 31, 1998 — (4,599) (4,599)
Net loss for the financial year — (538) (538)
Balance at August 31, 1999 — (5,137) (5,137)
Net profit for the period — 120 120
Balance at November 30, 1999
Adjustment for prior years’ losses
— (5,017) (5,017)
absorbed by holding company — 5,017 5,017
Net loss for the period — (2,261) (2,261)
Issue of shares 10,000 — 10,000
Balance at February 29, 2000 10,000 (2,261) 7,739
120