while we are improving our recreation and culture activities, we did not neglect our staff welfare. we have set up our library and medical centre to cater to the needs of the growing staff population. we have established staff development plan for every employees, ensuring that each and every one of them have a role to play and all have equal opportunities to grow within this dynamic and growing organization. on-job training and various seminars such as personal safety, 5s, and fire fighting were held regularly as part of the staff personal development programs. overall, we have enhanced the quality of our staff in almost every aspect. all the above achievements driving home one very importance message, and that is, we, in eurotec have accomplished and together, we ride through a very fruitful year in 2004. we wouldn’t achieve these without the support and involvement from our employees. therefore, i would like to take this opportunity to thank you and your family for your unreserved support and contributions.

though we are pleased with ourselves of our excellent performance in the past year, we must not lose sight of what we must do in this coming year. year 2005 is going to be a promising and exciting year for all of us. while we might be hopeful and excited over the promising future, we need to remind ourselves constantly of the new challenges ahead of us. every employee will be given greater resources, chances and fair opportunities to develop and grow with the company. the stiff market competition is expected to be fiercer than ever with the increased price in raw materials, labor and logistics costs. to stay competitive and survive in this market place, we must keep our operating cost low with higher productivity and efficiency.

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