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BMI Appraisals ˇV Move Forward to the Global Market

BMI Appraisals has successfully brought its business to a new era by establishing strategic alliance with a globally recognized valuation consulting firm in the United States of America, named MR Valuation Consulting, LLC (ˇ§MRVCˇ¨) in December 2008, to expand our services to the US market after our alliance with a Taiwanese valuation firm in early November 2008. The new alliance has further enhanced our status in earning a marketplace reputation for providing responsive and high quality valuation services.

MRVC is a well-recognized valuation consulting firm with its headquarters in New Jersey and branch offices in New York, Los Angeles, Miami, Santiago and Panama respectively. It provides appraisals, valuation-consulting and litigation support services to clients worldwide. MRVC specializes in the aspects of business valuations, resources valuations, plant and machinery valuations and pharmaceutical valuations.

With this alliance, BMI Appraisals is more competent in providing competitive valuation services to global clients and fulfilling the requirements of stock exchanges in the US, such as NYEX, NASDAQ, OTCBB and Canadian Stock Exchange.

Our Areas of Expertise in the US Market:

ˇE Purchase Price Allocations (SFAS 141 and SFAS 141 (R))

ˇE Goodwill Impairment Testing (SFAS 142)

ˇE Indefinite lived Intangible Asset Impairment (SFAS 142)

ˇE Finite lived Intangible Asset Impairment (SFAS 144)

ˇE Stock Options (SFAS 123 (R))

ˇE Financial Instruments with Characteristics of Both Liabilities and Equity (SFAS 150)

ˇE Fair Value Measurements (SFAS 157)

For more details of our valuation services, please contact our Dr. Tony Cheng at (852) 2593 9633 or email to tcheng@bmintelligence.com.



The Subsidiary of the Group, BMI Appraisals,Marked a New Milestone of Valuation Business in China, Hong Kong and Taiwan

On Friday, 31 October 2008, BMI Appraisals Limited (ˇ§BMIAˇ¨) duly signed a cooperative agreement with Taiwan Pan American Appraisal Co. Ltd. (ˇ§Pan American Appraisalˇ¨) to establish a strategic alliance relationship. The cooperation mainly aims to achieve a better sharing in various areas such as marketing, valuation research and resource support, establish a diversified cooperation and communication, and enhance the quality of valuation business in China, Hong Kong and Taiwan. It can also promote the development of valuation business in those regions as well as in Southeast Asia, and seek for potential opportunities for a closer cooperation in the future.

On the day of signing the contract, Dr. Cheng Chak Ho, the Managing Director of our Company, together with two management staff had a meeting in person with Mr. Tieh-Chen Wang, Chairman of Pan American Appraisal in Taiwan. The signing ceremony was completed smoothly by both parties in a friendly atmosphere at the Grand Hotel in Taipei, officially marking the commencement of a closer cooperation amongst China, Hong Kong and Taiwan.



Devoting to the Society, BMIA Takes Care of the Elderly in Christmas

In the spirit of ˇ§Caring for the Community, Spreading the Message of Loveˇ¨, BMI Appraisals Limited (ˇ§BMIAˇ¨) promotes social services enthusiastically. On 13 December 2008, a number of staff of the company made a goodwill visit to the ELCHK Shatin Multi-Service Centre for the Elderly and brought joy of Christmas to all the elderly.

During the event, we celebrated the Christmas with more than forty elderly. Through various group games, we all had a good time and shared the joy of this festive season. The elderly even offered themselves for performances such as aerobic dance, Cantonese operas singing and poems reciting, impressing all the audience and receiving great response of clapping and cheering.

Most of the elderly involved were over the age of sixty, while some of them were suffering from illnesses, disability and lack of care. Despite their old age, their spirits never grow old, their love and passion towards life has made the younger generation even more touched and admired. We are hoping to bring warmth to the minority of the society and convey messages of taking good care of elderly through this visit. In the future, BMIA will continue to promote social activities, and elaborate the spirit of helping others.

The 24th Senior Executive China Study Mission organized by Peking University was successful held

On 23 November, the 24th Study Mission has been successfully held in Beijing. The subjects of the Study Mission were all about the latest and the business sector's most concerned issues, including: the latest tax system, political and economic relations as well as the central government's policies. The fifteen classmates came from various fields of work. This enabled a solid exchange of ideas amongst different industries. In the evening of 22 November, the alumni group organized the tenth anniversary celebration and many of the fellow classmates traveled from Hong Kong to Beijing simply for that night. Those professors having taught the course have also been invited to attend the gathering, which made the tenth anniversary celebration even more meaningful and memorable.

BMI Appraisals Limited has recently has the following successful cases:

Company Name:Shun Cheong Holdings Limited
Stock code: 0650
Circular issue date: 19/12/2008
Project Nature: Property Valuation

Company Name:T S Telecom Technologies Limited
Stock code: 8003
Circular issue date: 08/12/2008
Project Nature: Iron Mine Valuation
Company Name:Bestway International Holdings Limited
Stock code: 0718
Circular issue date: 29/11/2008
Project Nature: Mine Valuation
Company Name:Far East Golden Resources Group Limited
Stock code: 1188
Circular issue date: 27/11/2008
Project Nature: Property Valuation
Company Name:Sino Union Petroleum & Chemical International Limited
Stock code: 0346
Circular issue date: 07/11/2008
Project Nature: Business Valuation
Company Name:New Smart Energy Group Limited
Stock code: 0091
Circular issue date: 31/10/2008
Project Nature: Asset Valuation
Company Name:Jian ePayment Systems Limited
Stock code: 8165
Circular issue date: 30/10/2008
Project Nature: Business Valuation
Company Name:Neolink Cyber Technology (Holding) Limited
Stock code: 8116
Circular issue date: 24/10/2008
Project Nature: Mine Valuation
Company Name:Neptune Group Limited
Stock code: 0070
Circular issue date: 26/09/2008
Project Nature: Asset Valuation

Company Name:CY Foundation Group Limited
Stock code: 1182
Circular issue date:19/09/2008
Project Nature: Property Valuation
Company Name:New Universe International Group Limited
Stock code: 8068
Circular issue date: 04/09/2008
Project Nature: Property Valuation
Company Name:UDL Holdings Limited
Stock code: 0620
Circular issue date: 04/09/2008
Project Nature: Property Valuation
Department Contact Telephone Email
BMI Consultants Limited Mr. Lowell Lo (852) 2593 9688 llo@bmintelligence.com
BMI Innovation Limited Ms. Sarah Chan (852) 2593 9675 schan@bmintelligence.com
BMI Appraisals Limited Ms. Joannau Chan (852) 2593 9634 jwfchan@bmintelligence.com
BMI Corporate Services Limited Ms. Carol Cheung (852) 2593 9661 ccheung@bmintelligence.com
BMI Professional Translation Services Limited Mr. Willis Ho (852) 2593 9616 who@bmintelligence.com
BMI Funds Management Limited Mr. Ricky Ngan (852) 3582 2788 rngan@bmintelligence.com
BMI Surveyors Limited Mr. Steve Luk (852) 2593 9639 sluk@bmintelligence.com
BMI Corporate Advisory (Shanghai) Limited Ms. Linda Wang (86) 21 6346 1207 shanghai@bmintelligence.com
BMI Consultants (Shenzhen) Limited Ms. Julia Wang (86) 755 3322 8900 shenzhen@bmintelligence.com

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