41

Independent Auditors’ Report

Members Of ViTrox Corporation Berhad

(Incorporated in Malaysia)

Company No : 649966-K

Report on the Financial Statements

We have audited the financial statements of ViTrox Corporation Berhad, which comprise the balance sheets as at 31 December 2008

of the Group and the Company, and the income statements, statements of changes in equity and cash flow statements of the Group

and the Company for the financial year then ended, and a summary of significant accounting policies and other explanatory notes,

as set out on pages 43 to 70.

Directors’ Responsibility for the Financial Statements

The directors of the Company are responsible for the preparation and fair presentation of these financial statements in accordance

with Financial Reporting Standards and the Companies Act 1965 in Malaysia (“the Act”). This responsibility includes: designing,

implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are

free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making

accounting estimates that are reasonable in the circumstances.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance

with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and

perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.

The procedures selected depend on our judgement, including the assessment of the risks of material misstatement of the financial

statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company’s

preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the

circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit

also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made

by the directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards and the

Act so as to give a true and fair view of the financial position of the Group and the Company as at 31 December 2008 and of their

financial performance and cash flows for the financial year then ended.