As of 31 March 2008, we held interests in four sectors, namely TMT, Manufacturing, Retail and Financial Services in Greater China. We are proud to present the following highlights,
Chinasoft International Limited is a company under the TMT sector. Since its listing on the GEM board of the Hong Kong Stock Exchange in 2003, market capitalization has grown 23 times from HK$51.2 million to approximately HK$1.2 billion in July 2008.
Also under the sector of TMT, Golden Music Resources Management Company Limited (Golden Music Resources) has a promising future in the growing industry of music licensing. Under pressure from governments worldwide, China is transforming itself and has developed a growing respect for intellectual property rights. An exclusive agreement Golden Music Resources concluded with the Music Copyright Society of China, the only collective management organization of music copyright in China and a member of the International Confederation of Authors and Composers Societies, opens up a license fee collection market of over 5,000 members. Golden Music Resources is also involved in other businesses, including piped music equipment installation and playing service.
First Credit Limited is one of the Far East Holdings' investments in the financial services sector. It is led by the experienced and renowned financial and credit expert Mr. Sin Kwok Lam. In the mid-1990s, Mr. Sin had tremendous success in managing Wing Hang Credit through the introduction of innovative loan packages, and he led the bank to become the leader of tax loans in the industry for years. First Credit Limited was a new start-up in 2007 and the Group is confident of its success.
Beijing Kailan Aviation Technology Co. Ltd. (Beijing Kailan) is formerly a 100% state-owned enterprise. Far East Holdings is now its only foreign investor. This represents one of our most successful investments in the manufacturing sector. Beijing Kailan has a strong foundation and provides a concrete development plan in the aviation industry for its associations with different government and quasi-government departments, including the Civil Aviation Administration of China.
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