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PROPERTY, PLANT AND EQUIPMENT<br />

Properties<br />

We do not own any property. We rent the premises we currently occupy from Singapore News &<br />

Publications Limited (“SNPL”), which is a subsidiary of SPH and Cityneon Displays (S) Pte Ltd.<br />

Details of our lease agreement with SNPL are set out in the “Interested Party Transactions” section<br />

of this Prospectus.<br />

We currently rent/lease the following properties:-<br />

Tenure and Gross Area Annual<br />

Description/Location Expiry Date (sq ft) Rental ($) Lessor<br />

Part of Level 5 2 years/ 8,684 312,624 SNPL<br />

News Centre<br />

82 Genting Lane,<br />

Singapore 349567<br />

31 August 2001<br />

Part of Level 3 1 years 8 months/ 2,576 92,736 SNPL<br />

News Centre 31 August 2001<br />

82 Genting Lane,<br />

Singapore 349567<br />

Unit #05-02 2 years/ 7,361 167,831 Cityneon Displays<br />

84 Genting Lane, 31 March 2002 (S) Pte Ltd<br />

Singapore 349584<br />

Fixed Assets<br />

BUSINESS<br />

As at 29 February 2000, we owned the following fixed assets:<br />

Date of Accumulated Net Book Net Book<br />

Description Purchase Cost Depreciation Value<br />

Equipment to support<br />

$ $ $<br />

e-commerce 18.08.1999 725,315 141,034 584,281<br />

Voxtron Voice Servers 29.11.1999 207,750 23,083 184,667<br />

Software to support auction 28.02.2000 331,500 9,208 322,292<br />

85<br />

1,264,565 173,325 1,091,240

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