RNS Number:0725P
Acertec PLC
29 February 2008



                                                                29 February 2008

                                   Acertec plc


The following announcement was made today by BRC Asia Limited a subsidiary of 
Acertec plc.  Acertec own 70.48% of BRC Asia Limited which is listed on the 
Singapore Stock Exchange.



BRC Asia Limited

Unaudited Full Year Financial Statement And Dividend Announcement For the Year
ended 31 December 2007

PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3),
HALF-YEAR AND FULL YEAR RESULTS

1(a) Group Profit and Loss Account for the year ended 31 December

                                                     The Group
                                                    -----------             
                                                  2007        2006       +/(-)
                                                 $'000       $'000          %

Sales                                          130,257     101,132         29

Cost of sales                                 (116,782)    (89,346)        31
                                              -------------------------------

Gross profit                                    13,475      11,786         14

Other (loss) / gains (net) ( note (a) )
- Miscellaneous                                   (147)        531        n.m

Expenses
- Distribution                                  (2,069)     (1,872)        11
- Administrative                                (3,525)     (3,457)         2
- Finance (net)                                 (1,052)       (779)        35
- Other                                           (459)       (605)       (24)
Share of profit of joint venture, net of tax       416         204        104
                                              -------------------------------
Profit before income tax ( note (b) )            6,639       5,808         14

Income tax expense ( note (c) )                 (1,036)     (1,078)        (4)
                                              -------------------------------
Net profit                                       5,603       4,730         18
                                              -------------------------------

n.m. denotes not meaningful.



Note (a)
                                                                     The Group
                                                                ----------------
    Other (loss) / gains (net)                                      2007    2006
                                                                   $'000   $'000

(i)
    - Dividend income from available-for-sale
      financial assets                                                 1      23
    - Interest income                                                  2      29
    - Gain on disposal of available-for-sale
      financial assets (1)                                         1,203     295
    - (Loss) / gain on disposal of property,
      plant and equipment                                            (11)    256
    - Net foreign exchange loss (2)                               (1,342)    (72)
                                                                ----------------
                                                                    (147)    531
                                                                ----------------


Note (b)
                                                                     The Group
                                                                ----------------
    Profit before tax is arrived at after
    charging / (crediting)                                       2007       2006
                                                                $'000      $'000

    Interest expense on borrowings (3)                          1,052        779
    Depreciation (4)                                            2,038      1,677
    Reversal of impairment of trade receivables                  (595)      (395)
    Share option expense                                          368        426
    Amortisation of intangibles                                     -        302
    Rental expense - operating lease                              642        543
    Provision for onerous contracts                               370          -
    Reversal of provision for warranty expense                      -       (220)

Note (c)
                                                                     The Group
                                                                ----------------
    Income tax expense                                           2007       2006
                                                                $'000      $'000
    Tax expense attributable to profit is made up of :
    Current income tax                                            961        873
    Deferred income tax                                            75        280
                                                                ----------------
                                                                1,036      1,153
    Over provision in preceding financial years
    - current income tax                                            -        (75)
                                                                ----------------
                                                                1,036      1,078
                                                                ----------------



Comments

(1) Gain on sale of available-for-sale financial assets came from the disposal
of shares in a listed company.

(2) The Company's policy has been to hedge all foreign exchange exposures, and
as required by FRS39 'Financial Instruments : Recognition and Measurement', all
foreign exchange gains/losses arising from changes in fair values of the forward
exchange contracts are recognized in the income statement when the changes
arise. As a consequence, open contracts were marked to market at 31 Dec 2007,
giving rise to an unrealized exchange loss of $0.8m in respect of purchases of
steel yet to be delivered and $0.5m arising from the difference between changes
in fair values of the forward exchange contracts forward exchange rates and the
actual rates at the time of payment relating to steel received and paid for
during the year.

(3) Interest expense on bank borrowings increased by $0.3m because of the higher
level of bank borrowings which was needed to cater for the higher volume.

(4) Depreciation increased by $0.4m because of the investment in plant and
machinery in 2006 and 2007, which was made to increase the manufacturing
capacity to cater for the growth in volume.


1(b)(i) A balance sheet (for the issuer and group), together with a comparative
statement as at the end of the immediately preceding financial year

                                         The Group               The Company
                                     ------------------      ------------------
                                     Dec 2007  Dec 2006      Dec 2007  Dec 2006
                                      $'000     $'000         $'000     $'000

Current assets
Cash and cash equivalents               1,541     2,244         1,502     1,944
Trade and other receivables (1)        35,034    21,760        35,034    21,760
Inventories (2)                        32,464    20,705        32,464    20,705
Other current assets                      576        81           529        32
                                     ------------------      ------------------
                                       69,615    44,790        69,529    44,441
                                     ------------------      ------------------

Non-current assets
Investment in a subsidiary                  -         -         3,670     3,670
Investment in joint venture (3)         6,848     6,328         6,076     6,076
Available-for-sale
financial assets (4)                       39       873            39       873
Property, plant and equipment          12,797    12,635        12,797    12,635
                                     ------------------      ------------------
                                       19,684    19,836        22,582    23,254
                                     ------------------      ------------------

Total assets                           89,299    64,626        92,111    67,695
                                     ------------------      ------------------

Current liabilities
Trade and other payables (5)           31,956    13,097        35,338    16,409
Current income tax liabilities          1,386     1,315         1,386     1,315
Borrowings (6)                         15,197    12,453        15,197    12,453
                                     ------------------      ------------------
                                       48,539    26,865        51,921    30,177
                                     ------------------      ------------------

Non-current liabilities
Borrowings                              1,975     1,995         1,975     1,995
Provision for retirement benefits         384       368           384       368
Deferred income tax  liabilities          975       900           975       900
                                     ------------------      ------------------
                                        3,334     3,263         3,334     3,263

Total liabilities                      51,873    30,128        55,255    33,440
                                     ------------------      ------------------

Net assets                             37,426    34,498        36,856    34,255
                                     ------------------      ------------------

Share capital and reserves
Share capital                          24,768    22,885        24,768    22,885
Capital reserve                           597       597           597       597
Fair value reserve                         19       593            19       593
Share option reserve                    1,469     1,620         1,469     1,620
Foreign currency
translation reserve                      (364)     (283)            -         -
Retained earnings                      10,937     9,086        10,003     8,560
                                     ------------------      ------------------
                                       37,426    34,498        36,856    34,255
                                     ------------------      ------------------

Comments

(1) A higher turnover, with the increases skewed in the last quarter was the
main reason for the increase in trade receivables by $13.3m.

(2) The need to increase inventory to cover an expanding order book caused
inventory holding to increase by $11.8m.

(3) Equity accounting of the results of the Joint Venture in China was the main
reason for the increase in Investment in joint venture.

(4) Available-for-sale financial assets decreased by $0.8m because of the sale
of shares in a listed company.

(5) Purchases from steel suppliers which offered credit as opposed to the
traditional payment by letter of credit at sight, as well as accruals for goods
in transit of $12.8m were the main reasons for the increase in trade payables by
$18.9m.

(6) Bank borrowings which consist of bills payable were higher by $2.7m mainly
because of higher inventory level.


1(b)(ii) Aggregate amount of group's borrowings and debt securities

Amount repayable in one year or less, or on demand

    ----------------------------------------------------------------
            31 Dec 2007                       31 Dec 2006
    ----------------------------------------------------------------
    Secured $'000  Unsecured $'000    Secured $'000  Unsecured $'000
    ----------------------------------------------------------------
           787           14,410             532           11,921
    ----------------------------------------------------------------

Amount repayable after one year

    ----------------------------------------------------------------
            31 Dec 2007                       31 Dec 2006
    ----------------------------------------------------------------
    Secured $'000  Unsecured $'000    Secured $'000  Unsecured $'000
    ----------------------------------------------------------------
         1,975              0             1,995               0
    ----------------------------------------------------------------

Details of any collateral
Borrowings of $1.995m is secured by a mortgage over the factory at 12 Tuas
Avenue 5, Singapore 639338 and the balance of $767k relates to hire purchase
financing of machinery.

1(c) A cash flow statement (for the group), together with a comparative
statement for the corresponding period of the immediately preceding financial
year

                                                             2007       2006
                                                            $'000      $'000

Cash flows from operating activities
Total profit                                                5,603      4,730
Adjustments for :
 Tax                                                        1,036      1,078
 Share of profit of joint venture                            (416)      (204)
 Depreciation of property, plant and equipment              2,038      1,677
 Loss / (gain) on disposal of property, plant 
 and equipment                                                 11       (256)
 Share option expenses                                        368        426
 Provision / (utilisation) made for
 retirement benefits                                           16         (4)
 Gain on disposal of available-for-sale
 financial assets                                          (1,203)      (295)
 Interest expense                                           1,052        780
 Interest income                                               (2)       (29)
 Dividend income                                               (1)       (23)
                                                          ------------------
Operating cash flow before working capital change           8,502      7,880


Change in operating assets and liabilities
 Trade and other receivables                              (13,459)    (6,026)
 Inventories                                              (11,759)    (2,512)
 Other current assets                                        (495)         6
 Trade and other payables                                  18,860      1,246
                                                          ------------------
 Cash generated from operations                             1,649        594
 Income tax paid                                             (890)    (1,236)
                                                          ------------------
Net cash provided by / (used in) operating activities         759       (642)
                                                          ------------------

Cash flows from investing activities
Purchases of property, plant and equipment                 (1,123)    (9,611)
Proceeds from disposal of available-for-sale
financial assets                                            1,463        336
Proceeds from disposal of property, plant
and equipment                                                   4      2,599
Interest received                                               2         29
Dividend received                                               1         23
                                                          ------------------
Net cash provided by / (used in) investing activities         347     (6,624)
                                                          ------------------

Cash flows from financing activities
Proceeds from bank loan                                         -      2,660
Repayment of bank loan                                       (532)      (133)
Repayment of lease liabilities                               (326)         -
Net proceeds from bills payable to banks                    2,489      4,550
Dividends paid                                             (3,751)    (1,194)
Interest paid                                              (1,052)      (780)
Proceeds from issue of shares                               1,364         66
                                                          ------------------
Cash (used in ) / provided by financing activities         (1,808)     5,169
                                                          ------------------

Net decrease in cash and cash equivalents                    (702)    (2,097)
Cash and cash equivalents at the beginning
of the financial year                                       2,243      4,340
                                                          ------------------
Cash and cash equivalents at the end of the
financial year                                              1,541      2,243
                                                          ------------------


1(d)(i) A statement (for the issuer and group) showing either (i) all changes in
equity or (ii) changes in equity other than those arising from capitalisation
issues and distributions to shareholders, together with a comparative statement
for the corresponding period of the immediately preceding financial year

Statement of changes in Equity - Group     

                               Share        Capital     Fair value   Share option   Foreign     Retained       Total
                               -----        -------     ----------   ------------   -------     --------       -----
                              capital       reserve       reserve      reserve      currency    earnings    
                              -------       -------       -------      -------      --------    --------
                                                                                  translation  
                                                                                  -----------
                                                                                    reserve
                                                                                    -------
                             ---------------------------------------------------------------------------------------
                               $'000         $'000         $'000        $'000        $'000       $'000         $'000

Balance at 1 January 2007     22,885           597           593        1,620         (282)      9,085        34,498
                             ---------------------------------------------------------------------------------------
- Fair value gains on
available-for-sale
financial assets                   -             -            15            -            -           -            15
- Currency translation
differences                        -             -             -            -          (82)          -           (82)
                             ---------------------------------------------------------------------------------------
Net income recognized
directly in equity                 -             -            15            -          (82)          -           (67)
Net profit                         -             -             -            -            -       5,603         5,603
                             ---------------------------------------------------------------------------------------
Total recognised
gains / (losses)                   -             -            15            -          (82)      5,603         5,536
Transfer to income
statement on disposal
of available-for-sale 
financial assets                   -             -          (589)           -            -           -          (589)
Employee share option scheme 
- Value of employee
services                           -             -             -          368            -           -           368
Issue of shares                1,883             -             -         (519)           -           -         1,364
Dividend relating to
2006 paid                          -             -             -            -            -      (2,990)       (2,990)
Dividend relating to
2007 paid                          -             -             -            -            -        (761)         (761)
                             ---------------------------------------------------------------------------------------
Balance at 31 December 2007   24,768           597            19        1,469         (364)     10,937        37,426
                             ---------------------------------------------------------------------------------------

Balance at 1 January 2006     22,794           597           176        1,219          (13)      5,550        30,323
                             ---------------------------------------------------------------------------------------
- Fair value gains on
available-for-sale 
financial assets                   -             -           712            -            -           -           712
- Currency translation
differences                        -             -             -            -         (270)          -          (270)
                             ---------------------------------------------------------------------------------------
Net income recognized
directly in equity                 -             -           712            -         (270)          -           442
Net profit                         -             -             -            -            -       4,730         4,730
                             ---------------------------------------------------------------------------------------
Total recognised
gains / (losses)                   -             -           712            -         (270)      4,730         5,172
Transfer to income 
statement on disposal
of available-for-sale 
financial assets                   -             -          (295)           -            -           -          (295)
Employee share
option scheme
- Value of employee
services                           -             -             -          426            -           -           426
Issue of shares                   91             -             -          (25)           -           -            66
Dividend relating to
2005 paid                          -             -             -            -            -        (478)         (478)
Dividend relating to
2006 paid                          -             -             -            -            -        (716)         (716)
                             ---------------------------------------------------------------------------------------
Balance at 31 December 2006   22,885           597           593        1,620         (283)      9,086        34,498
                             ---------------------------------------------------------------------------------------



Statement of changes in Equity-Company

                                       Share         Capital    Fair value    Share       Retained      Total
                                       -----         -------    ----------    -----       --------      -----
                                      capital        reserve     reserve     option       earnings  
                                      -------        -------     -------     ------       -------- 
                                                                            reserve  
                                                                            -------  
                                     ------------------------------------------------------------------------
                                       $'000       $'000         $'000       $'000         $'000        $'000

Balance at 1 January 2007             22,885         597           593       1,620         8,560       34,255
Net gains recognized
directly in equity
- Fair value gains on
available-for-sale 
financial assets                           -           -            15           -             -           15
Net profit                                 -           -             -           -         5,194        5,194
                                     ------------------------------------------------------------------------
Total recognised gains                     -           -            15           -         5,194        5,209

Transfer to income statement on
disposal of available-for-
sale financial assets                      -           -          (589)          -             -         (589)
Employee share option scheme
- value of employee services               -           -             -         368             -          368
Issue of shares                        1,883           -             -        (519)            -        1,364
Dividend relating to
2006 paid                                  -           -             -           -        (2,990)      (2,990)
Dividend relating to
2007 paid                                  -           -             -           -          (761)        (761)
                                     ------------------------------------------------------------------------
Balance at 31 December 2007           24,768         597            19       1,469        10,003       36,856
                                     ------------------------------------------------------------------------

Balance at 1 January 2006             22,794         597           176       1,219         5,185       29,971
Net gains recognized
directly in equity
- Fair value gains on
available-for-sale 
financial assets                           -           -           712           -             -          712
Net profit                                 -           -             -           -         4,569        4,569
                                     ------------------------------------------------------------------------
Total recognised gains                     -           -           712           -         4,569        5,281
Transfer to income statement on
disposal of available-for-sale 
financial assets                           -           -          (295)          -             -         (295)
Employee share option scheme
- value of employee services               -           -             -         426             -          426
Issue of shares                           91           -             -         (25)            -           66
Dividend relating to
2005 paid                                                                                   (478)        (478)
Dividend relating to
2006 paid                                  -           -             -           -          (716)        (716)
                                     ------------------------------------------------------------------------
Balance at 31 December 2006           22,885         597           593       1,620         8,560       34,255
                                     ------------------------------------------------------------------------



1(d)(ii) Details of any changes in the company's share capital arising from
rights issue, bonus issue, share buy-backs, exercise of share options or
warrants, conversion of other issues of equity securities, issue of shares for
cash or as consideration for acquisition or for any other purpose since the end
of the previous period reported on. State also the number of shares that may be
issued on conversion of all the outstanding convertibles as at the end of the
current financial period reported on and as at the end of the corresponding
period of the immediately preceding financial year

The changes to the company's share capital were as follows:-

                                                    No of shares       $
                                                   ---------------------------
Share capital as at 01/01/2007                      598,000,000   22,884,878

Options exercised by employees pursuant
to BRC Share Option Scheme 2004                      20,760,000    1,882,932
                                                   ---------------------------
Balance as at 31/12/2007                            618,760,000    24,767,810
                                                   ---------------------------

The outstanding options as at 31/12/07 were:-


Options Exercise Period
--------------------------------------

16,615,000     23/08/2006 - 22/08/2009
16,578,000     01/10/2007 - 30/09/2010
20,056,000     22/08/2008 - 21/08/2011
12,940,000     08/09/2009 - 07/09/2012

2. Whether the figures have been audited, or reviewed and in accordance with
which standard (e.g. the Singapore Standard on Auditing 910 (Engagements to
Review Financial Statements), or an equivalent standard

The figures have not been audited or reviewed.


3. Where the figures have been audited or reviewed, the auditors' report
(including any qualifications or emphasis of matter)

Not applicable.


4. Whether the same accounting policies and methods of computation as in the
issuer's most recently audited annual financial statements have been applied

The Group has applied the same accounting policies and methods of computation in
the financial statements for the current financial year as compared with the
most recently audited annual financial statement for the financial year ended 31
December 2006.


5. If there are any changes in the accounting policies and methods of
computation, including any required by an accounting standard, what has changed,
as well as the reasons for, and the effect of, the change

On 1 January 2007, the Group adopted the following new or amended Financial
Reporting Standards ("FRS") that are mandatory from that date :

Amendments to FRS 1, Presentation of Financial Statements - Capital Disclosures
FRS 107 Financial Instructions : Disclosures

The adoption of the above FRS did not result in any substantial changes to the
Group's accounting policies nor any significant impact on these financial
statements. FRS 107 and the complementary amended FRS 1 introduce new
disclosures relating to financial instruments and capital respectively.


6. Earnings per ordinary share of the group for the current period reported on
and the corresponding period of the immediately preceding financial year, after
deducting any provision for preference dividends

The Group.

------------------------------------------------------------------
Earnings per ordinary share (cents)     31 Dec 2007    31 Dec 2006
------------------------------------------------------------------
- Basic                                    0.92           0.79
------------------------------------------------------------------
- Diluted basis                            0.87           0.77
------------------------------------------------------------------


7. Net asset value (for the issuer and group) per ordinary share based on issued
share capital of the issuer at the end of the (a) current period reported on and
(b) immediately preceding financial year

The Group

------------------------------------------------------------------
Net asset value per ordinary share      31 Dec 2007    31 Dec 2006
------------------------------------------------------------------
- Basic                                 6.05 cents     5.77 cents
------------------------------------------------------------------

The Company

------------------------------------------------------------------
Net asset value per ordinary share      31 Dec 2007    31 Dec 2006
------------------------------------------------------------------
- Basic                                 5.96 cents     5.73 cents
------------------------------------------------------------------


8. A review of the performance of the group, to the extent necessary for a
reasonable understanding of the group's business. The review must discuss any
significant factors that affected the turnover, costs, and earnings of the group
for the current financial period reported on, including (where applicable)
seasonal or cyclical factors. It must also discuss any material factors that
affected the cash flow, working capital, assets or liabilities of the group
during the current financial period reported on.

The construction industry in Singapore continued to grow strongly in 2007, with
new orders estimated by BCA to be 46% ahead of 2006, at S$24.5 billion.
Construction output generally lags new orders by a year or more, and BRC was
therefore pleased to see its sales increase by 29% over 2006, with the second
half being 42% ahead of the prior period.

This 29% growth, which included price increases of about 10%, driven by the
increasing global price of steel, was mainly the result of our success in
developing our full range of steel reinforcement solutions, including cut, bent
and prefabricated rebar, in addition to our traditional mesh products.

Percentage margins are lower on bar products than on mesh but this margin
dilution was offset by strong cost control, with a 5% growth in distribution and
administrative costs being much lower than the growth in sales.

Financing costs increased by 35% owing to the increase in working capital
required to cover the growth in sales. In particular, inventories, which are
largely carried in order to hedge the company's fixed-priced order book, rose by
57%. Other operating expenses were lower, mainly because there was no charge for
amortization of intangibles in 2007 (S$0.3m in 2006).

In China, the Group's joint venture showed good sales growth, but market trading
conditions remained very competitive.

Overall, the Group saw a satisfactory increase of 18% in net profits for the
year. The slow start to the year, caused by problems in the supply of sand and
stone to the Singapore construction industry, was more than offset by a strong
second half, with a 48% half-on-half improvement in net profit.


9. Where a forecast, or a prospect statement, has been previously disclosed to
shareholders, any variance between it and the actual results

No forecast or prospect statement has been made or disclosed to shareholders.


10. A commentary at the date of the announcement of the competitive conditions
of the industry in which the group operates and any known factors or events that
may affect the group in the next reporting period and the next 12 months


The strong construction industry in Singapore will be one of the key drivers of
growth for the Group in 2008. BCA's projections for 2008 show construction
demand in the range S$23b-$27b, after taking account of deferrals of some public
projects to 2010 and beyond, in order to ease pressure on construction
resources.

BRC's order book in Singapore was circa 90% higher at the start of 2008 than the
beginning of 2007, which will underpin continuing sales growth. Margins on the
order book reflect the competitive position in 2007, but margins on new orders
are showing an improving trend.

Steel prices remain volatile and, in early 2008, rising. The Group's policy of
hedging its order book against fluctuations in steel prices means that it is
largely insulated from the effect of such movements.

The economic slowdown in the US is expected to have some impact upon the
Singapore economy in 2008. However, the construction industry is expected to be
relatively unaffected by this as it is driven by committed long-term projects,
with a substantial pipeline ahead, including the two Integrated Resorts, the
Beach Road development, Sport Hub, NUS re-development and the new MRT lines.


11. Dividend

(a) Current Financial Period Reported On

-------------------------------------------------------------------------
                              2007                   2007
-------------------------------------------------------------------------
Name of dividend              Interim                Final (proposed)
-------------------------------------------------------------------------
Dividend type                 Cash                   Cash
-------------------------------------------------------------------------
Dividend rate                 0.15 cents per share   0.50 cents per share
-------------------------------------------------------------------------
Tax rate                      18%                    One tier
-------------------------------------------------------------------------
Date paid / payable           03 October 2007        To be advised
-------------------------------------------------------------------------


(b) Corresponding Period of the Immediately Preceding Financial Year

-------------------------------------------------------------------------
                              2006                   2006
-------------------------------------------------------------------------
Name of dividend              Interim                Final
-------------------------------------------------------------------------
Dividend type                 Cash                   Cash
-------------------------------------------------------------------------
Dividend rate                 0.15 cents per share   0.60 cents per share
-------------------------------------------------------------------------
Tax rate                      20%                    18%
-------------------------------------------------------------------------
Date paid / payable           18 Sept 2006           25 May 2007
-------------------------------------------------------------------------

The final dividend will be subjected to approval by shareholders at the
forthcoming Annual General Meeting.

(c) Date payable

To be advised

(d) Books closure date

To be advised


12. If no dividend has been declared/recommended, a statement to that effect

NA


PART II - ADDITIONAL INFORMATION REQUIRED FOR FULL YEAR ANNOUNCEMENT (This part
is not applicable to Q1, Q2, Q3 or Half Year Results)

13. Segmented revenue and results for business or geographical segments ( of the
group) in the form presented in the issuer's most recently audited annual
financial statements, with comparative information for the immediately preceding
year

Primary reporting format - business segment

The Group is principally involved in the business of prefabrication of steel
reinforcement for use in concrete, trading of steel reinforcing bars and
manufacturing and sale of wire mesh fences.

Secondary report format - geographical location

                                                     Profit / (loss) before tax     
                                                    ----------------------------
                                                         2007          2006
                                                        $'000         $'000

Singapore                                               6,223         5,604
The People's Republic of China - joint venture            416           204
                                                    ----------------------------
                                                        6,639         5,808
                                                    ----------------------------



                                   Sales            Total assets    Capital expenditure
                          --------------------------------------------------------------
                               2007      2006      2007     2006       2007       2006
                              $'000     $'000     $'000    $'000      $'000      $'000

Singapore                   130,257   101,132    82,365   58,128      2,215      9,931
Hong Kong                                   -        86      170          -          -
The People's Republic of 
China - joint venture                       -     6,848    6,328          -          -
                          --------------------------------------------------------------

                            130,257   101,132    89,299   64,626      2,215      9,931
                          --------------------------------------------------------------



14. In the review of performance, the factors leading to any material changes in
contributions to turnover and earnings by the business or geographical segments

Not applicable


15. A breakdown of sales and profit before tax

---------------------------------------------------------------------------------
                                                        $'000     $'000     %
---------------------------------------------------------------------------------
                                                         2007      2006    +/(-)
---------------------------------------------------------------------------------
Sales reported for first half year                     50,186    44,555     13
---------------------------------------------------------------------------------
Profit before tax reported for first half year          2,485     2,171     14
---------------------------------------------------------------------------------
Sales reported for second half year                    80,071    56,577     42
---------------------------------------------------------------------------------
Profit before tax reported for second half year         4,154     3,637     14
---------------------------------------------------------------------------------


16. A breakdown of the total annual dividend (in dollar value) for the issuer's
latest full year and its previous full year

----------------------------------------------------
                                    $'000     $'000
----------------------------------------------------
Total Annual Dividend                2007      2006
----------------------------------------------------
Ordinary                            3,855     3,706
----------------------------------------------------
Preference                              -         -
----------------------------------------------------
                                    3,855     3,706
----------------------------------------------------

The total annual dividend for 2007 includes a proposed final dividend of 0.50
cents per share amounting to $3,094K based on the number of shares as of 31
December 2007.


17. Confirmation pursuant to Rule 705(4) of the SGX Listing Manual

We, Lim Siak Meng and Wong Soong Kit, being two directors of BRC Asia Limited,
do hereby confirm on behalf the Board of Directors of the Company that, to the
best of our knowledge, nothing has come to the attention of the Board of
Directors of the Company which may render the unaudited financial results for
the year ended 31 December 2007 to be false or misleading in any material
aspects.

On behalf of the Board of Directors


Lim Siak Meng                  Wong Soong Kit
Executive Director             Executive Director


18. Interested Persons Transactions

----------------------------------------------------------------------------------------
Name of interested person      Aggregate value of all            Aggregate value of
                               interested person                 all interested
                               transactions during the           person transactions
                               financial year under review       during the
                               (excluding transactions less      financial year
                               than $100,000 and                 under review
                               transactions conducted under      conducted under the
                               the Shareholders' Mandate         Shareholders'
                               pursuant to rule 920).            Mandate pursuant to
                                                                 rule 920
----------------------------------------------------------------------------------------
Keong Hong Construction        Not applicable                    $ 423,951
----------------------------------------------------------------------------------------
Harry Elias Partnership        $ 19,262                          Not applicable
----------------------------------------------------------------------------------------


BY ORDER OF THE BOARD

John David Sword
Chairman

29 Feb 2008




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
MSCSEDFEUSASEEE

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