1
Harmony Asset Limited – Third Quarterly Report 2007
Harmony Asset Limited
(Incorporated in the Cayman Islands with limited liability)
HKEX – Stock Code: 428
TSX – Stock code: HAR
Unaudited condensed consolidated interim financial statements
Three-month and nine-month periods ended 30th September, 2007

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Harmony Asset Limited – Third Quarterly Report 2007
NOTICE TO READER

The management of Harmony Asset Limited is responsible for the preparation of the accompanying
interim financial statements. The interim financial statements have been prepared in accordance with
International Accounting Standards 34 “Interim Financial Reporting” and are considered by management
to present fairly the financial position, operation results and cash flows of the Company and its subsidiaries.
These financial statements have not been audited, reviewed or otherwise verified for accuracy and
completeness of information by the auditors of the Company.

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Harmony Asset Limited – Third Quarterly Report 2007
TABLE OF CONTENT

Unaudited condensed consolidated interim income statement
for the nine months ended 30th September, 2007 4
Unaudited condensed consolidated interim balance sheet
for the nine months ended 30th September, 2007 5
Unaudited condensed consolidated interim statement of changes in equity
for the nine months ended 30th September, 2007 6
Unaudited condensed consolidated interim cash flow statement
for the nine months ended 30th September, 2007 7
Notes to the unaudited condensed consolidated interim financial statements
for the nine months ended 30th September, 2007
1. Basic of preparation 9
2. Turnover, other revenues and gains 9
3. Operating profit 10
4. Financial costs 10
5. Income tax expenses 10
6. Earning per share 10
7 Property, plant and equipment 11
8. Accounts receivable and prepayments 11
9. Accounts payable 12
10. Share capital 12
11. Share option scheme 13
12. Related party transactions 14
13. Lease commitment 15
14. Financial risk management 15

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Harmony Asset Limited – Third Quarterly Report 2007
UNAUDITED CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT

For the nine months ended 30th September, 2007
Three months ended Nine months ended
30th September, 30th September,
2007 2006 2007 2006

(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Note HK$ HK$ HK$ HK$
Turnover 2 946,926 547,003 3,571,634 1,829,811
Other revenue 2 344,594 663,769 891,799 9,767,356
Other (losses) and gains (12,901,378) 6,661,631 19,135,331 12,020,324
(11,609,858) 7,872,403 23,598,764 23,617,491
Operating expenses
Depreciation of property,
plant and equipment (45,598) (74,550) (175,163) (224,514)
Employee benefit expenses (540,838) (529,531) (2,229,689) (2,439,662)
Other operating expenses (2,971,406) (1,927,814) (7,390,651) (5,472,989)
Impairment loss on loans receivable – – (3,308,261) –
Operating (loss) profit 3 (15,167,700) 5,340,508 10,495,000 15,480,326
Finance costs 4 – – – (139,964)
(Loss) profit before income tax (15,167,700) 5,340,508 10,495,000 15,340,362
Income tax credit (expenses) 5 2,940,582 – (305,931) –
(Loss) profit for the period attributable
to shareholders of the Company (12,227,118) 5,340,508 10,189,069 15,340,362
(Loss) earnings per share 6
Basic (31.35) cents 18.28 cents 30.92 cents 52.50 cents
Diluted N/A 18.06 cents 30.80 cents 52.09 cents
The notes on pages 9 to 15 form part of these financial statements.

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Harmony Asset Limited – Third Quarterly Report 2007
UNAUDITED CONDENSED CONSOLIDATED INTERIM BALANCE SHEET

As at 30th September, 2007 and 31st December, 2006
30th September, 31st December,
2007 2006

(Unaudited) (Audited)
Note HK$ HK$
Non-current assets
Property, plant and equipment 7 245,422 370,792
Available-for-sale financial assets 45,455,053 43,228,573
Loans receivable 69,095,992 71,533,757
114,796,467 115,133,122

Current assets
Accounts receivable and prepayments 8 23,499,553 19,278,075
Financial assets at fair value
through profit or loss 73,778,791 44,868,350
Bank balances and cash 26,600,322 18,715,933
123,878,666 82,862,358

Current liabilities
Accounts payable 9 131,794 7,429,459
Tax payable 427,433 121,502
559,227 7,550,961

Net current assets 123,319,439 75,311,397
Net assets 238,115,906 190,444,519
Capital and reserves
Share capital 10 39,002,615 29,220,475
Reserves 199,113,291 161,224,044
Total equity 238,115,906 190,444,519
The notes on pages 9 to 15 form part of these financial statements.

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Harmony Asset Limited – Third Quarterly Report 2007
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN
EQUITY

For the nine months ended 30th September, 2007 and 2006
Unaudited
Retained
Fair Share profits/
Share Share value option Proposed (accumulated
capital premium reserve reserve dividend losses) Total
HK$ HK$ HK$ HK$ HK$ HK$ HK$
At 1st January, 2007 29,220,475 143,516,834 7,540,170 908,000 4,383,071 4,875,969 190,444,519
Profit for the period – – – – – 10,189,069 10,189,069
Fair value changes on available-for-sale
financial assets recognised in equity – – 766,279 – – – 766,279
Total recognised income
for the period – – 766,279 – – 10,189,069 10,955,348
Share option scheme
– value of employee services – – – 762,000 – – 762,000
– placing agent services – (245,000) – 245,000 – – –
Transfer of reserve upon exercise
of share options – 908,000 – (908,000) – – –
Issue of shares 9,782,140 37,806,835 – – – – 47,588,975
Share issue expenses – (7,251,865) – – – – (7,251,865)
Proposed dividend transferred to
current liabilities upon approval of
shareholders at annual general meeting – – – – (4,383,071) – (4,383,071)
9,782,140 31,217,970 – 99,000 (4,383,071) – 36,716,039
Balance at 30th September, 2007 39,002,615 174,734,804 8,306,449 1,007,000 – 15,065,038 238,115,906
At 1st January, 2006 29,220,475 147,899,905 (6,034,732) – 4,383,071 (5,809,313) 169,659,406
Profit for the period – – – – – 15,340,362 15,340,362
Fair value changes on
available-for-sale financial
assets recognised in equity – – 1,760,875 – – – 1,760,875
Total recognised income
for the period – – 1,760,875 – – 15,340,362 17,101,237
Share option scheme
– value of employee services – – – 908,000 – – 908,000
Proposed dividend transferred to
current liabilities upon
approval of shareholders at
annual general meeting – – – – (4,383,071) – (4,383,071)
– – – 908,000 (4,383,071) – (3,475,071)
Balance at 30th September, 2006 29,220,475 147,899,905 (4,273,857) 908,000 – 9,531,049 183,285,572
The notes on pages 9 to 15 form part of these financial statements.

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Harmony Asset Limited – Third Quarterly Report 2007
UNAUDITED CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENT

Nine Nine months
ended 30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Operating activities
Profit before taxation 10,495,000 15,340,362
Interest income (2,441,634) (1,694,545)
Finance cost – 139,964
Depreciation of property, plant and equipment 175,163 224,514
Dividend income from unlisted investment (1,130,000) (135,266)
Share option expenses 762,000 908,000
Net realized gain on disposal of
available-for-sale financial assets (800,000) –
Fair value changes on financial assets
at fair value through profit or loss (14,255,302) (8,612,291)
Impairment loss on available-for-sale financial assets 3,308,261 –
Profit before working capital changes (3,886,512) 6,170,738
Increase in financial assets
at fair value through profit or loss (14,655,139) (16,090,117)
(Increase) Decrease in accounts receivable
and prepayment (7,395,479) 41,248,681
Decrease in accounts payable (2,297,665) (1,344,603)
Cash (used in) generated from operations (28,234,795) 29,984,699
Interest paid – (368,901)
Net (used in) cash from operating activities (28,234,795) 29,615,798
Investing activities
Interest received 615,635 1,795,394
Dividend income from available-for-sale
financial assets 1,130,000 135,266
Advances to investee companies (2,182,000) (2,286,146)
Repayments from investee companies 1,311,503 11,800,000
Purchase of property, plant and equipment (49,793) (27,812)
Purchase of available-for-sale financial assets (1,460,200) (16,629,751)
Sales proceeds from disposal of available-for-sale
financial assets 800,000 –
Net cash from(used in) investing activities 165,145 (5,213,049)

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Harmony Asset Limited – Third Quarterly Report 2007
UNAUDITED CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENT

(CONTINUED)
Nine Nine months
ended 30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Financing activities
Dividend paid (4,383,071) (4,379,278)
Proceeds from exercise of share options 2,794,000 –
Repayments of instalment loans – (7,500,000)
Payments for share issue expenses (7,496,866) –
Proceeds from issue of shares 45,039,976 –
Net cash from(used in) financing activities 35,954,039 (11,879,278)
Net increase in cash and cash equivalents 7,884,389 12,523,471
Cash and cash equivalents at 1st January 18,715,933 5,111,090
Cash and cash equivalents at 30th September 26,600,322 17,634,561
Analysis of the balances of cash and cash equivalents:
Bank balances and cash 26,600,322 17,634,561
The notes on pages 9 to 15 form part of these financial statements.

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Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS

1. Basis of preparation
The unaudited condensed consolidated interim financial statements (“interim financial statements”) are prepared in
accordance with International Accounting Standard 34 “Interim Financial Reporting” issued by the International Accounting
Standards Board.
The interim financial statements should be read in conjunction with the annual financial statements for the year ended
31st December, 2006. The accounting polices and basis of preparation used in the preparation of these interim financial
statements are consistent with those used in the annual financial statements for the year ended 31st December, 2006.
2. Turnover, other revenue and gains
The Group principally invests in securities listed on Total revenue and other
gains recognised during the period are as follows:
Nine months ended
30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Turnover:
Interest income from
– bank deposits 615,635 393,696
– loans receivable 1,825,999 1,207,150
– convertible notes – 93,699
Dividend income from
– listed investments – –
– unlisted investments 1,130,000 135,266
3,571,634 1,829,811
-------------- --------------

Other revenue:
Reversal of impairment loss on accounts receivable – 8,300,000
Sundry income 891,799 1,467,356
891,799 9,767,356
-------------- --------------

Other gains:
Fair value changes on financial assets
at fair value through profit or loss 14,255,302 8,612,291
Net realised gain on disposal of financial assets
at fair value through profit or loss 3,817,624 3,403,625
Net realised gain on disposal of available-for-sale
financial assets 800,000 –
Exchange gain, net 262,405 4,408
19,135,331 12,020,324
-------------- --------------

Total revenue and gains 23,598,764 23,617,491
No analysis of the Group’s turnover and contribution to operating profit for the period set out by principal activities and
geographical markets is provided as the Group has only one single business segment, which is investment holding, and
less than 10% of the consolidated turnover, results and assets of the Group are attributable to markets outside Hong Kong.

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Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS (CONTINUED)
3. Operating profit
Operating profit has been arrived at after charging the following:
Nine months ended
30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Management fees 2,404,229 1,956,066
Pension costs – contributions to
defined contribution plan 64,282 59,101
Operating lease in respect of land and buildings 1,870,395 1,007,224
Equity-settled share-based payment expenses 762,000 908,000
Impairment loss on loans receivable 3,308,261 –
4. Finance costs
Amount represents interest on bank overdraft and interest on interest-bearing borrowings.
5. Income tax expenses
Hong Kong profits tax is calculated at 17.5% (2006: 17.5%) of the estimated assessable profits for the period.
Nine months ended
30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Hong Kong profits tax 305,931 –
6. Earnings per share
The calculation of basic and diluted earnings per share is as follows:
Nine months ended
30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Profit attributable to shareholders of the Company 10,189,009 15,340,362
Number Number
of shares of shares
Weighted average number of ordinary shares for the
purpose of basic earningsper share calculation 32,956,784 29,220,474
Potential dilutive shares – share options 121,056 227,853
Weighted average number of
ordinary shares for the
purpose of diluted earnings
per share calculation 33,077,840 29,448,327
HK cents HK cents
Basic earnings per share 30.92 52.50
Diluted earnings per share 30.80 52.09

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Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS (CONTINUED)
Basic earnings per share is calculated by dividing the profit attributable to shareholders by the weighted average number of the
ordinary shares in issue during the period.
Diluted earnings per share is calculated based on the profit attributable to shareholders, and the weighted average number of
ordinary shares in issue during the period after adjusting for the number of diluted potential ordinary shares granted under the
Company’s share option scheme.
The calculation of earnings per share for the nine months ended 30th September, 2007 has been adjusted for 5-for-1 share
consolidation which took place on 14th December, 2006.
7. Property, plant and equipment
As at As at
30th September, 31st December,
2007 2006

(Unaudited) (Audited)
HK$ HK$
Furniture and fixture 422,144 403,246
Motor vehicle 528,200 528,200
Office equipment 446,140 428,044
Leasehold improvements 1,292,428 1,279,630
2,688,912 2,639,120

Accumulated Depreciation 2,443,490 2,331,748
Carrying amount 245,422 307,372
8. Accounts receivable and prepayments
As at As at
30th September, 31st December,
2007 2006

(Unaudited) (Audited)
HK$ HK$
Accounts receivable 9,860,112 6,471,880
Loan receivable, secured 8,000,000 8,000,000
Interests receivable 4,373,147 2,547,148
Other receivables 120,000 8,000
22,353,259 17,027,028

Deposits 804,846 469,790
Prepayments 341,448 1,781,257
23,499,553 19,278,075

The loan receivable is interest-bearing.
The ageing analysis of the receivables is as follows:
Over
Current 30-60 days 61-90 days 90 days Total
HK$ HK$ HK$ HK$ HK$
Balance at
30th September, 2007 913,939 7,778,103 217,785 14,589,725 23,499,553
Balance at
31st December, 2006 5,393,818 284,021 421,842 10,927,347 17,027,028

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Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS (CONTINUED)
9. Accounts payable
As at As at
30th September, 31st December,
2007 2006

(Unaudited) (Audited)
HK$ HK$
Accounts payable – 5,000,000
Accruals 126,808 2,427,501
Unclaimed dividend payable 4,986 1,958
131,794 7,429,459

The ageing analysis of the accounts payable is as follows:
Over
Current 30-60 days 61-90 days 90 days Total
HK$ HK$ HK$ HK$ HK$
Balance at
30th September, 2007 102,573 – – 29,221 131,794
Balance at
31st December, 2006 7,402,038 – – 27,421 7,429,459
10. Share capital
Number
of shares Amount
HK$
Authorised:
Ordinary shares of HK$0.2 each
at 1st January, 2006 500,000,000 100,000,000
Share consolidation on 14th December, 2006
(Note a) (400,000,000) –
Ordinary shares of HK$1 each at 31st December, 2006
and 30th September, 2007 100,000,000 100,000,000
Number
of shares Amount
HK$
Issued and fully paid:
Ordinary shares of HK$0.2 each
at 1st January, 2006 146,102,374 29,220,475
Share consolidation on 14th December, 2006
(Note a) (116,881,900) –
Ordinary shares of HK$1 each
at 31st December, 2006 29,220,474 29,220,475
Issue of shares of HK$1 each (Note b) 9,782,140 9,782,140
Ordinary shares of HK$1 each
at 30th September, 2007 39,002,614 39,002,615
Note:
(a) Pursuant to an ordinary resolution passed at the extraordinary general meeting of the Company held on 13th
December, 2006, 5 shares (issued and unissued) of the Company of HK$0.2 each were consolidated into 1 new
share of the Company of HK$1 each with effect on 14th December, 2006.
(b) Pursuant to an agency agreement with a placing agent dated 31st May, 2007, the Company agreed to place
through the placing agent an aggregate of 8,766,140 placing shares, to five placees, at a price of CDN$0.70 per
share. On 18th June, 2007, such placing shares were issued and fully paid.
On 22nd June, 2007, the directors and employees exercised 1,016,000 share options granted at exercise price of
HK$2.75 per share which resulted in 1,016,000 new shares issued by the Company.

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Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS (CONTINUED)
11. Share Option Scheme
The Company has adopted the Share Option Scheme at its extraordinary general meeting held on 28th June, 2005. All
directors (including executive directors, non-executive directors and independent non-executive directors) and employees
of the Company and its subsidiaries and consultants, advisors, agents, customers, service providers, contractors, business
partners of any member of the Group or any member of it has a shareholding interest, in the sole discretion of the Board,
has contributed to the Group or any member of it are eligible to participate in the Share Option Scheme.
Each option gives the holder the right to subscribe for one ordinary share in the Company. Upon acceptance of the
options, the grantee shall pay HK$1 to the Company by way of consideration for the grant.
An option may be exercised at any time during a period as the Board may determine which shall not be more than ten
years from the date of grant of the option subject to the provisions of early termination thereof. Unless otherwise
determined by the Board at its sole discretion, the Share Option Scheme does not require a minimum period for which an
option must be held nor a performance target which must be achieved before an option can be exercised.
The Share Option Scheme will remain in force for a period of ten years from 28th June, 2005.
The terms and conditions of the unexpired and unexercised share options at 30th September, 2007 are as follows:
Number of options
As at Granted Exercise As at 30th
Date of Exercise 1st January, during during September, Exercise
grant period 2007 the period the period 2007 price
HK$
Director
Lee Fong Lit David 17/1/2006 17/1/2006 – 28,000 – 28,000 – 2.75
16/1/2009
30/4/2007 30/4/2007 – – 28,000 – 28,000 4.29
29/4/2010
Chow Pok Yu Augustine 17/1/2006 17/1/2006 – 28,000 – 28,000 – 2.75
16/1/2009
30/4/2007 30/4/2007 – – 28,000 – 28,000 4.29
29/4/2010
Lam Andy Siu Wing, JP 17/1/2006 17/1/2006 – 292,000 – 292,000 – 2.75
16/1/2009
30/4/2007 30/4/2007 – – 292,000 – 292,000 4.29
29/4/2010
Chan Shuen Chuen Joseph 30/4/2007 30/4/2007 – – 28,000 – 28,000 4.29
29/4/2010
Tong Kim Weng Kelly 17/1/2006 17/1/2006 – 28,000 – 28,000 – 2.75
16/1/2009
30/4/2007 30/4/2007 – – 28,000 – 28,000 4.29
29/4/2010
Ho Man Kai Anthony 17/1/2006 17/1/2006 – 28,000 – 28,000 – 2.75
16/1/2009
30/4/2007 30/4/2007 – – 28,000 – 28,000 4.29
29/4/2010
Wong Yun Kuen 17/1/2006 17/1/2006 – 28,000 – 28,000 – 2.75
16/1/2009
30/4/2007 30/4/2007 – – 28,000 – 28,000 4.29
29/4/2010
Sub-total 432,000 460,000 432,000 460,000
Contracted employees 17/1/2006 17/1/2006 – 584,000 – 584,000 – 2.75
in aggregrate 16/1/2009
30/4/2007 30/4/2007 – – 584,000 – 584,000 4.29
29/4/2010
Sub-total 1,016,000 1,044,000 1,016,000 1,044,000
Maison Placements 18/6/2007 18/6/2007 – – 290,000 – 290,000 6.03
Canada Inc 17/6/2009
Grand-total 1,016,000 1,334,000 1,016,000 1,334,000

14
Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS (CONTINUED)
Notes:
1. The weighted average closing price of the share immediately before the date on which the options were exercised was
HK$5.86.
2. The closing price of share immediately before the dates of grant on 30th April, 2007 and 18th June, 2007 were
HK$4.23 and HK$6.02 respectively.
3. During the period, no share options were lapsed or cancelled under the Share Option Scheme.
The fair value of services received in return for share options granted are measured by reference to the fair value of share
options granted. The estimate of the fair value of the options is measured based on the Black-Scholes Options Pricing
Model.
The variables of the options served as inputs into the model are listed as follows:
Grant date/Date of valuation 30th April, 2007 18th June, 2007
Option type American American
Stock asset price (closing on the
date of valuation) (HK$) 4.29 6.01
Option exercise price (HK$) 4.29 6.03
Exercise period 30th April, 2007 18th June, 2007
to 29th April, 2010 to 17th June, 2009
Maturity (Year) Three Two
Assumed life of option from the date
of valuation (years) 1.5 1
Risk-free interest rate (Note a) 3.942% 4.17%
Annualised volatility (Note b) 35.3% 35.46%
Indicated option value (HK$/share) 0.7297 0.8449
Volume (No. of share, before share
consolidation), if exercise 1,044,000 290,000
Fair value of options granted (HK$) 762,000 245,000
Note:
(a) Risk-free rate: The applicable risk-free interest rate was the yield of one year and two years Hong Kong Monetary
Authority exchange fund notes quoted at the date of valuation.
(b) Volatility: The conventional measure for systemic risk, or price volatility, is the standard deviation, which is a
measure of price dispersion or variation. This variable is just the average of the square of the difference between
share price and mean price over time.
The estimated fair values of HK$762,000 (2006: HK$908,000) and HK$245,000 (2006: nil) with respect to share options
granted to directors and employees, and the placing agent, were charged to income statement and share premium respectively
during the period.
12. Related party transactions
Nine months ended
30th September
2007 2006

(Unaudited) (Unaudited)
HK$ HK$
Management fees paid to:
– Harmony Asset Management Limited (“HAML”) 2,404,229 1,289,067
The Company has entered into an investment management agreement with HAML, a company which is wholly-owned by
a director of the Company, Dr. Chow Pok Yu Augustine. Under the agreement, HAML has agreed to assist the Board with
the day-to-day management of the Group until 31st May, 2010. In accordance with the investment management agreement,
HAML is entitled to a monthly fee calculated at 1.5% per annum on the net asset value of the Company of the preceding
month and an incentive fee is calculated at 10% of the audited net profit of a financial year (before accrual of the
incentive fee). Dr. Chow Pok Yu Augustine, being a beneficial shareholder of HAML, was interested in this agreement.

15
Harmony Asset Limited – Third Quarterly Report 2007
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS (CONTINUED)
13. Lease commitments
As at 30th September, 2007, the Group had total future aggregate minimum lease payments under non-cancellable
operating leases in respect of land and buildings as follows:
As at As at
30th September, 31st December,
2007 2006

(Unaudited) (Audited)
HK$ HK$
Within one year 2,659,294 727,739
In the second to fifth years inclusive 3,299,067 309,873
5,958,361 1,037,612

The Group leases an office and an incubation centre under operating leases. The leases typically run from an initial period
of three years, with an option to renew the lease after that date at which time all terms are renegotiated. Lease payments
are usually increased annually to reflect market rentals. None of the leases includes contingent rentals.
14. Financial risk management
(a) Financial risk factors
The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and
price risk), credit risk, liquidity risk and interest rate risk. The Group’s overall risk management programme
focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the
Group’s financial performance.
(i) Market risk
– Foreign exchange risk
The Group is exposed to foreign exchange risk arising from various currency exposures, primarily
with respect to the exchange rate of HK dollar against US dollar. Foreign exchange risk arises from
future commercial transactions, recognised assets and liabilities and net investments in foreign
operations.
– Since HK dollar is pegged to US dollar, the directors consider that the Group’s foreign exchange risk
is not significant.
– Price risk
The Group is exposed to price risk of equity securities and embedded derivatives which are classified
on the consolidated balance sheet either as available-for-sale financial assets or as financial assets at
fair value through profit or loss. Such investments are susceptible to market price risk arising from
uncertainties about their future prices. Such risk is managed through diversification of investment
portfolio.
(ii) Credit risk
The Group has no significant concentration of credit risk. Derivative counter parties and cash transactions
are limited to those debtors and borrowers considered by directors having a good credit standing. The
Group has policies that limit the amount of credit exposure to any debtors and borrowers. The Group
regards the maximum credit risk exposure limited to available-for- sale financial assets, financial assets
at fair value through profit or loss, loans and receivables and accounts receivable.
(iii) Liquidity risk
Management of the Group aims to maintain sufficient cash and cash equivalents or have available funding
through an adequate amount of committed credit facilities to meet its investment commitments.