Sunny Tew

REPORT OF THE DIRECTORS (Continued)3. Directors’ interests in shares or debentures (Continued)Certain Directors holding office as at 30 September 2007 had interest in the bonus warrants to subscribe for ordinary shares of the Company in cash on the basis of onebonus warrant for every four ordinary shares in the capital of the Company, at an exercise price of $0.4215 per share, as recorded in the register of Directors’ shareholdingsset out below:Warrantholdings registeredin the name of DirectorsWarrantholdings in which Directorsare deemed to have an interestBalance as at1 October2006Balance as at30 September2007Balance as at1 October2006Balance as at30 September2007Number of unissued ordinary shares underbonus warrants held by DirectorsCompanyHG Metal Manufacturing LimitedTan Chan Too 2,852,903 2,852,903 - -Wee Piew …350,039 …350,039 - -Lee Leng Loke …943,064 …943,064 - -Tan Ah Bee 2,618,833 2,618,833 - -Sia Ling Sing 1,371,250 1,371,250 3,370,000 3,370,000Ooi Seng Soon - - 5,000 5,000In accordance with the continuing listing requirements of the Singapore Exchange Securities Trading Limited, the Directors of the Company state that, according to theregister of Directors’ shareholdings, the Directors’ interests as at 21 October 2007 in the shares of the Company have not changed from those disclosed as at 30 September2007.28 HG METAL MANUFACTURING LIMITED ANNUAL REPORT 2007