Achieva 8pp 12/4/2001

Contents
Corporate Profile 1
Message from Our Executive Chairman 2-3
Operations Review 4-5
Board of Directors and Corporate Information 6-7
Group Financial Highlights 8
Financial Contents 9
Achieva Limited

Corporate Profile
Mission Statement
“We aim to be the top knowledge-based value-added
distributor and solutions provider in the Asia Pacific
for electronics and IT-related products and services;
and a leading Asian-based creator of innovative proprietary
technology products and solutions.”
Founded in 1993 by President and CEO, Mr Henry
Lim and his business associates, the Achieva group of
companies has grown rapidly in size and business scope. Listed
on the Mainboard of the Singapore Exchange in June 2000,
Achieva is now one of Asia Pacific’s top knowledge-based
value-added distributors and solutions providers focusing on
electronics and IT-related products and services.
In line with our strategy of scaling up the value
chain beyond the role of a traditional box mover, Achieva has
built up our own design and development competencies and
a growing portfolio of proprietary patents and intellectual
property rights. We are focused on delivering more knowledge-based
products and service offerings, including the
design and development of proprietary products and
technology that offer breakthrough solutions for our customers.
Driven by this strategic orientation, we have set
up a design center in India in July 2000 to provide design and
consultancy services for customers in the electronics and
IT industry.
Achieva has also invested in Nano Storage Pte Ltd,
a new Singapore-based product design and development
company, dedicated to creating molecular scale storage
systems for the multi-billion dollar digital portable
electronics market worldwide.
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Currently, we have three core business divisions:
• Peripherals, parts and software including data
storage devices, software and components for computer and
IT-related products;
• Electronic components covering semiconductor
and electro-mechanical devices focusing on data communications/telecommunications
and digital consumer markets;
• Data networking, design and development of proprietary
products and solutions for the electronics industry
In financial year (FY) 2001, we will set up a
Strategic Technologies business division to cover our
intellectual property products, technological and knowledgebased
developments, investments and proprietary products
and services.
With corporate headquarters in Singapore and
operations spanning nine countries in the Asia-Pacific region,
the Achieva Group represents 38 product brands. Currently,
the Group has four operating divisions and a staff strength of
about 300, serving a growing customer base of about 6000 in
the Asia-Pacific region.
Achieva Limited

Message from our Executive Chairman
“Delivering Value to Shareholders”
2
FY2000 will be remembered as not only a watershed
year, but also one that brimmed with record achievements
and strategic new initiatives to deliver better value to
shareholders.
We were successfully listed on the Mainboard of
the Singapore Exchange in June 2000.
We have expanded our existing geographical
markets to enter into new markets -- Indonesia, Philippines
and India. We have set up the Design Centre to provide more
value-added services.
On the proprietary technology front, we have
made good progress. We have filed two patents for
notebook battery and hard disk drives. In October 2000,
in line with our strategy to develop our own proprietary
technology, we have taken a controlling stake in Nano
Storage, a Singapore-based product design and development
company, dedicated to creating molecular scale storage
systems for the multi-billion dollar digital portable
electronics market worldwide.
In terms of product lines, we secured eight
new distributorships for leading-edge technology products
focusing on the telecommunications, advanced storage,
Internet-related and software application sectors.
And to support our business expansion, our talent
pool has also been beefed up in terms of senior management
and technical personnel.
Sterling Performance
The turn of the century also ushered in record gains
for the Group. We posted a set of sterling results for the
financial year ended December 31, 2000. For the financial
year under review, our net profit soared 95% to $8.85
million from $4.55 million in FY1999. This was achieved on
the back of a group turnover of $340 million, which represented
an increase of 48% compared to $229 million in FY1999.
The surge in turnover was attributable to a strong
performance in the Group's two core businesses -- electronic
components and peripherals and software businesses -- which
rose 104% and 41% respectively over the corresponding
period last year. These two core businesses accounted for the
bulk of the Group's turnover and profit.
Our outstanding financial report, which reflects
the success of our strategy to focus on value-added,
Achieva Limited

knowledge-based products and services, was due to two
reasons. Firstly, we enjoyed stronger growth in the electronic
components business led by the robust growth in the
telecommunications and data communication industry.
Secondly, continued cost efficiency and enhanced
productivity in the peripherals and software business, as
well as stronger IT/electronics demand in Malaysia, Vietnam
and Australia have contributed to improved revenue growth.
Malaysia, Singapore and Australia are our top
three performing markets in terms of Group turnover, while
Singapore, Malaysia and Vietnam are the key contributors to
Group operating profit.
Group earnings per share rose to 2.38 cents from
1.46 cents while net tangible assets per share increased to 11.63
cents from 6.01 cents. Our financial strength was also
reflected in our robust cash position with about $18 million
in cash reserves.
In the light of our excellent performance and to
reward our loyal shareholders, the Board of Directors has
recommended a final cash dividend of 0.20 cents (pre-tax)
per share for the full year ended 31 December 2000.
Knowledge-driven Growth
In line with our strategic growth plans, Achieva
has scaled up the value chain by providing product design
services, creating new patents/intellectual property and
proprietary leading-edge technology products and service
offerings. We have positioned ourselves as not just a box
mover, but rather a knowledge-based, value-added solutions
provider, well-positioned to meet the demands arising from
the emerging enabling technologies and breakthroughs in the
digital landscape.
Optimism Amidst Challenges
We expect FY2001 to be a challenging year
for Achieva due to the slower economic growth in the US and
the decline in global electronics demand. However, we are
optimistic of continued profitability because of our growth
strategy focusing on key emerging Asian markets, high-growth
technological sectors such as high-density portable storage,
digital technology, value-added, knowledge-based solutions.
We are optimistic about our mid to long-term
outlook, given the new intellectual properties being
developed, the launch of new Nano Storage products and other
Message from our Executive Chairman
3
proprietary products and the new value-added distributorships
to be added to our portfolio. We will also explore strategic
investments in leading-edge technologies and exploit
high-growth, emerging Asian economies such as China, the
world's most populous economy.
A Word of Appreciation
On behalf of the Board, I wish to thank the
management and employees for their dedication and hard
work. As a knowledge-based corporation, retention of
talent with good work attitude is vital to our continued
success. I would also like to record our sincere appreciation
to our customers and business partners for their support
all these years. Finally, to our shareholders who have placed
their trust in us, we promise to run a tight operation
while keeping our bottom line healthy so as to maximise
our shareholders’ value.
Henry Lim
Executive Chairman
30 March 2001
Achieva Limited

Operations Review
FY2000: A Watershed Year of Milestone Achievements
The financial year ended 31 December 2000 was
an exciting and memorable one for the Achieva Group.
Numerous significant strides and beachheads were achieved
during that year.
Operationally, Achieva made significant and
strategic progress in all its key business segments. In terms
of geographical markets, Malaysia, Singapore and Australia
continued to be the top three performers, accounting for 29%,
28% and 27% of Group turnover. While Singapore and
Malaysia were also the top two contributors to Group
operating profit, Vietnam has overtaken others to become
the third most profitable market.
Our China operations are expected to turn around
in FY2001 after the initial start-up phase. We have started
selling software and peripherals in the PRC and will
be extending our distribution activities to include
semiconductor products.
In FY2000, we clinched eight new distributorships.
They are from XIOtech Corporation, Telecommunications
Devices Inc, LynuxWorks, Inc., Intarsia Corporation,
Flextronics Semiconductor Inc, Basis Communication, Sinbon
Electronics Co Ltd and Tai Sol Electronics Co., Ltd. These
wins brought the Group’s total distributorship portfolio
to 38 brands. For most of these brands, Achieva is the
distributor for ASEAN and Asia-Pacific markets.
Peripherals, Parts and Software
Turnover in the peripherals, parts and software
business grew 41% to $275 million -- accounting for 81%
of turnover -- from $195 million in FY1999. Profit from
this segment was $7.7 million or 52% of Group operating
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profit (before tax and interest), as compared to $3.5
million in FY1999.
The market for peripherals, parts and software is
consumer-oriented, volume-driven, fast changing, pricesensitive
and highly competitive. Our ability to secure and
retain distribution rights to well-established brands such
as Seagate, Intel, ASUSTEK and Microsoft, coupled with
our value added services, extensive network, good
relationships with suppliers and dealers, has contributed
to our competitive success.
Electronic Components
The Electronic Components business accounted for
$60.7 million or 18% of Group turnover in FY2000, an
increase of 104% compared to $29.7 million in FY1999. It
contributed $8.1 million or 55% of Group operating profit
(before tax and interest), compared to $5 million for the same
period last year.
Our success in securing distributorships in this
segment is due largely to our ability to provide electronic
design and application support to our customers. Some of
our clients in this segment include Venture Manufacturing,
Natsteel Electronics and Solectron Technology.
In July 2000, we set up the Design Centre in India
to provide design and other consultancy services for the
electronics industry. Manned by a team of 17 R&D engineers,
the Design Centre is already on a revenue-generating track,
and to date has garnered about six on-going projects.
In FY2000, our distributorship for Thomas & Betts
ended due to its acquisition by Tyco Corporation in July 2000.
Achieva Limited

However, this was offset by our success in securing the sole
representation of Tyco's subsidiary TDI, in Southeast Asia
and Greater China. TDI specializes in battery packs and its
major customers include Motorola and Ericsson.
Overall, our outlook for this business segment in
FY2001 is positive. This is because of the increased revenue
from the TDI distributorship which will offset the loss of
income from Thomas and Betts.
Data Network products and others
Most of our data network products and services
are offered to corporate customers and educational
institutions in Malaysia. Due to insufficient resources, we were
unable to grow this business in FY2000. However, with
better utilization of resources and improved efficiency, we
expect to secure more projects and increase our customer base
to include more MNCs. And with the strengthening of
the Malaysian economy, we are therefore optimistic that
this business will turn around and register positive growth
in FY2001.
TECHNOLOGY AND R&D
Intellectual Property & Technology Patents
As part of Achieva's strategy to enhance its
knowledge-based activities, we have made significant progress
in the area of Technology and R&D. Currently, we have put
in place a team of 12 R&D engineers in Singapore. Although
we have already filed two patents - one for a universal notebook
and the other for HDD connectivity -- in December 2000,
we are confident that our R&D efforts will deliver more
successes, and we intend to file up to 10 patents for FY2001.
We have also committed to invest $5 million in
our maiden technology venture -- Nano Storage Pte Ltd. This
is a joint venture with Kent Ridge Digital Labs (KRDL), a
research and software organisation, and Nanochip Inc, a USbased
manufacturer of MEMS-based storage systems. This
strategic step signified Achieva's maiden investment in
high-growth, high-volume proprietary technology products
focusing on the dynamic and high-growth portable consumer
electronics and communications sectors.
Nano Storage will develop
products focusing on portable storage devices
and silicon chips that support digital portable
electronics and communications applications
/ appliances such as digital cameras, MP3
players, PDAs as well as networking equipment. Under the
agreement to set up Nano Storage, Nano Storage will develop
and sell the controller chip. KRDL will develop the errorcorrection
coding system (ECC System) while Nanochip will
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Significant Milestones
in FY2000
June Listing of Achieva Limited on
the SGX Mainboard
Establishment of offices in
Indonesia and the Philippines
July Establishment of Design
Centre in India
October Establishment of Nano
Storage Pte Ltd
December Filing of 2 patents for
notebook battery and
hard disk drives
Winning of 8 new
distributorships for
leading-edge
technology products
Achieva Limited
Operation Review
provide the micro-electro mechanical storage device (MEMS
device) and technology to Nano Storage for its digital multimedia
storage products.
Nano Storage, which targets OEMs and
manufacturers of portable electronic devices, will
revolutionise the data storage industry. The market for high
capacity storage devices such as those created by Nano
Storage is huge. Demand for digital products such as digital
cameras and MP3 players is expected to grow exponentially.

Board of Directors
Henery Lim Yong Choon
Executive Chairman
President & CEO
Co-founder of Achieva
Group and founder of
several other companies
including Hexon
Technology Pte Ltd.
B Sc.
Corporate Information
Board of Directors Lim Yong Choon
Pok Tam Soon
Ng Chee Seng
Soh Eng Kuang
Executive Chairman
Chia Chong Leong (appointed on 7.4.2000)
Lew Syn Pau (Independent Director - appointed on 7.4.2000)
Goh Kian Hwee (Independent Director - appointed on 7.4.2000)
Secretaries Adrian Chan Pengee
Leong Shiao Yee
Goh Kian Hwee
Independent Director
Audit Committee member
LLB (Honours)
Registered Office 240 MacPherson Road #02-02/03/04
Pines Industrial Building
Singapore 348574
6
Lew Syn Pau
Independent Director
Audit Committee Chairman
M Sc (Engineering)
& MBA
Achieva Limited

William Pok Tam Soon
Co-founder and Chief
Operating Officer
Audit Committee
member
B. Sc (Physics);
Masters
(Electrical Engineering)
Graduate Diploma in
Marketing Management
Christopher
Ng Chee Seng
Co-founder & Director
Vice President of Achieva
Components Pte Ltd
Dip. Electrical Engineering
Graduate Dip. in Business
Administration
Raymond
Chia Chong Leong
Co-founder & Director
Vice President of Achieva
Technology Pte Ltd
Audit Committee Lew Syn Pau Chairman
Goh Kian Hwee Member
Pok Tam Soon Member
Auditors Ernst & Young
Certified Public Accountants
Daniel Soh Chung Hian
Audit Partner
Bankers Industrial & Commercial Bank Limited
ABN AMRO Bank N.V.
Citibank, N.A.
United Overseas Bank
ABSA Bank Limited
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Board of Directors
Mark Soh Eng Kuang
Co-founder & Director
Vice President of Achieva
Electronics Pte Ltd
B. Sc and MBA
Achieva Limited

Group Financial Highlights
6 Years Financial Overview
1995 1996
In S$’000
1997 1998 1999 2000
Results of Operations
Revenue 6,645 43,508 135,380 190,470 229,216 340,019
Operating profit before taxation 316 1,292 2,566 5,463 7,215 13,583
Profit after taxation 232 903 1,367 4,347 5,344 9,889
Minority interests - - - (256) (406) (1,038)
Extraordinary items - - - - (388) -
Profit attributable to shareholders 232 903 1,367 4,091 4,550 8,851
Earnings per share (cents) 0.07 0.29 0.44 1.32 1.46 2.38
Return on shareholders’ equity 11% 19% 15% 29% 24% 18%
Gross dividend - - - - - 4%
Balance sheets
Shareholders’ equity 2,087 4,651 9,068 14,123 18,660 48,779
Property, plant & equipment 436 3,648 3,761 3,939 2,661 3,097
Investment in associated company - - - - - 97
Other investments 26 26 26 26 26 868
Goodwill - - - - - 622
Current assets 3,432 14,525 44,400 61,031 61,954 121,117
Current liabilities (1,576) (11,729) (37,360) (48,782) (44,115) (73,897)
Net current assets 1,856 2,796 7,040 12,249 17,839 47,220
Long-term liabilities (231) (1,819) (1,759) (1,499) (859) (341)
Minority interests - - - (592) (1,007) (2,784)
2,087 4,651 9,068 14,123 18,660 48,779
Net tangible assets per share (cents) 0.67 1.50 2.92 4.55 6.01 11.63
Borrowings 267 7,071 11,765 8,946 17,715 16,904
Note
(1) The financial position of the group was prepared on a proforma basis for the years 1995 to 1999, as if the group had been in existence
throughout the periods under review.
(2) For comparative purposes, the earnings per share and net tangible assets backing per share as at 31 December 1995 to 1999 was
computed based on the pre-invitation share capital of 310,607,740 shares.
6 Years Turnover
6 Years Profit After Tax
S$’000
350 -
300 -
250 -
200 -
150 -
100 -
50 -
0 -
6,645
43,508
135,380
190,470
229,216
340,019
1995 1996 1997 1998 1999 2000
8
10,000 -
8,000 -
6,000 -
4,000 -
2,000 -
S$’000
0 -
232
903
1,367
1995 1996 1997 1998 1999 2000
Achieva Limited
4,347
5,344
9,889