Ocean Sky International Limited - Ocean Sky International Ltd ...

LETTER FROM AUDITORS AND REPORTING ACCOUNTANTS IN RELATION TO THE PROFIT
ESTIMATE OF THE GROUP FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2002
12 March 2003
The Board of Directors
Ocean Sky International Limited
22 Tampines Street 92
Singapore 528876
Dear Sirs
This letter has been prepared for inclusion in the Prospectus of Ocean Sky International Limited (the
“Company”) to be lodged with the Monetary Authority of Singapore on 12 March 2003 in connection with
the Invitation to subscribe for 92,000,000 ordinary shares of $0.05 each in the capital of the Company
(“New Shares”) comprising 9,200,000 Offer Shares at $0.23 for each Offer Share by way of public offer
and 82,800,000 Placement Shares by way of placement, comprising a minimum of 79,300,000
Placement Shares at $0.23 for each Placement Share, and up to 3,500,000 Reserved Shares at $0.21
for each Reserved Share payable in full on application.
We have reviewed the profit estimate of the Company and its subsidiaries (the “Group”) (the “estimate”)
for the financial year ended 31 December 2002 set out on page 41 of the Prospectus in accordance with
Singapore Standards on Auditing applicable to the examination of prospective financial information. The
Directors are responsible for the estimate including the bases and assumptions on which the estimate is
based. The estimate includes results shown by the audited financial statements for the six months
financial period ended 30 June 2002.
Based on our examination of the evidence supporting the assumptions, nothing has come to our
attention which cause us to believe that these assumptions do not provide a reasonable basis for the
estimate. Further, in our opinion, the estimate, so far as the accounting policies and calculations are
concerned, is properly prepared on the basis of the assumptions, is consistent with the accounting
policies normally adopted by the Group, and is presented in accordance with Singapore Statements of
Accounting Standard.
Yours faithfully
BDO International
Certified Public Accountants
Singapore
Lee Joo Hai
Partner-in-charge
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