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BALANCE ASAT 1.1.2000 BALANCE NO. OFDATE OF OR DATE OF OPTIONS OPTIONS AS AT HOLDERS AT EXERCISEGRANT GRANT IF LATER LAPSED EXERCISED 31.12.2000 31.12.2000 PRICE ($) EXERCISABLE PERIOD6.12.1997 125,170 – 40,000 85,170 2 0.522 18.5.1999 to 24.12.20046.12.1997 999,958 – 880,658 119,300 7 0.905 18.5.1999 to 2.6.20056.12.1997 90,113 – – 90,113 1 0.422 18.5.1999 to 17.6.20056.12.1997 394,545 – 135,625 258,920 1 0.467 18.5.1999 to 16.7.20056.12.1997 314,402 – 228,096 86,306 1 0.401 18.5.1999 to 4.12.20056.12.1997 112,641 – – 112,641 2 0.357 18.5.1999 to 6.12.20056.12.1997 1,319,425 – 794,115 525,310 14 0.905 18.5.1999 to 3.4.20066.12.1997 450,568 – 450,568 – – 0.380 18.5.1999 to 8.4.20066.12.1997 394,545 – – 394,545 2 0.471 18.5.1999 to 22.4.20066.12.1997 57,268 – – 57,268 1 0.747 18.5.1999 to 18.8.20066.12.1997 882,826 – 387,204 495,622 4 0.373 18.5.1999 to 30.8.20066.12.1997 318,511 – 20,549 297,962 4 0.465 18.5.1999 to 16.10.20066.12.1997 3,418,854 – 1,644,569 1,774,285 14 0.422 18.5.1999 to 2.4.20076.12.1997 1,284,029 – 537,402 746,627 14 0.629 18.5.1999 to 7.4.20076.12.1997 642,161 – 262,001 380,160 3 0.492 18.5.1999 to 24.4.20076.12.1997 57,268 – 57,268 – – 0.640 23.8.1999 to 21.8.20076.12.1997 668,128 – 231,363 436,765 9 0.720 11.9.1999 to 9.9.200729.4.1998 17,380,050 250,400 8,528,900 8,600,750 234 1.390 30.4.2000 to 29.4.200820.5.1998 1,000,000 – 1,000,000 – – 1.210 21.5.2000 to 20.5.20087.8.1998 2,135,000 65,000 897,206 1,172,794 269 1.290 8.8.2000 to 7.8.20089.2.1999 28,516,160 599,760 – 27,916,400 563* 1.418 10.2.2001 to 9.2.200910.8.1999 3,938,500 95,000 – 3,843,500 642* 2.000 11.8.2001 to 10.8.20099.2.2000 35,610,080 353,600 – 35,256,480 687* 2.260 10.2.2002 to 9.2.20109.2.2000 7,943,000 49,000 – 7,894,000 187 1.808 10.2.2002 to 9.2.20106.9.2000 2,689,000 – – 2,689,000 90 2.390 7.9.2002 to 6.9.2010* Includes 1 Director of the Company.The options granted by the Company do not entitle theholders of the options, by virtue of such holdings, to anyright to participate in any share issue of any other company.AUDIT COMMITTEEThe Audit Committee comprises four independent nonexecutivedirectors, one of whom is also the Chairman ofthe Committee.The members of the Audit Committee atthe date of this report are as follows:Ng Kee Choe (Chairman)Dr Philip Nalliah Pillai (appointed on 1 April 2000)Philip Tan Yuen FahLucien Wong Yuen KuaiThe financial statements, accounting policies and systemof internal accounting controls are the responsibility ofthe Board of Directors acting through the AuditCommittee.The Audit Committee met during the yearto review the scope of the internal audit functions andthe scope of work of the statutory auditors, and theresults arising therefrom, including their evaluation ofthe system of internal controls.The Audit Committeealso reviewed the assistance given by the Company’sofficers to the auditors.The consolidated financialOn behalf of the Board of DirectorsHO CHINGDirectorBOON SWAN FOODirectorSingapore6 January 2001statements of the Group and the financial statements ofthe Company were reviewed by the Audit Committeeprior to their submission to the directors of theCompany for adoption.In addition, the Audit Committee has reviewed therequirements for approval and disclosure of interestedpersons transactions, reviewed the procedures set up bythe Group and the Company to identify and report andwhere necessary, seek approval for interested personstransactions and, with the assistance of the internal auditors,reviewed interested persons transactions.The Audit Committee has recommended to the Board ofDirectors that the auditors, Arthur Andersen, be nominatedfor re-appointment as auditors at the forthcomingAnnual General Meeting of the Company.AUDITORSArthur Andersen have expressed their willingness toaccept re-appointment as auditors of the Company.114 • visiondirectors’ report • 115