Basis for qualified opinionAs more fully explained in note 2(b) to the financial statements, the company has not prepared group consolidated financial statements in accordance with the requirement of Hong Kong Accounting Standard No. 27 “Consolidated and Separate Financial Statements” issued by the Hong Kong Institute of Certified Public Accountants. In our opinion, there is insufficient information concerning the subsidiary company in the financial statements to give a true and fair view of the state of affairs of the Group as at 31st December, 2008 and of its results and cash flows for the year then ended. It is not practicable to quantify the effects of the departure from this requirement. Qualified opinion arising from disagreement about accounting treatment
Except for the failure to prepare group consolidated financial statements as detailed in the preceding paragraph, in our opinion, the financial statements give a true and fair view of the state of the company’s affairs as at 31st December 2008 and of its profit and cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards and have been properly prepared in accordance with the Hong Kong Companies Ordinance.