Dividend Policy and Payment

Dividend Policy of the Company

The Company’s annual dividend payment is determined by the Board of Directors and must be approved by the shareholders' meeting of the Company. This requirement does not include interim dividend payments, which the Board of Directors has the power to approve from time to time as appropriate. The Board of Directors is required to report such approvals to the shareholders at the next shareholders' meeting.

The Company has a policy to pay dividends to shareholders at a rate of no less than 40% of the net profit in the Company's financial statements, after the deduction of corporate income tax and all reserves as defined by the laws and not higher than retained earnings as stipulated in the Company’s financial statements. The dividends payment is dependent on the Company’s performance, investment plan, its cash flows including future plan and in accordance with significant terms with the financial institutions.

In consideration for dividends payment of the subsidiary is authorised by the Company’s board of directors and the subsidiary’s shareholders. The subsidiary has a policy to pay dividends to shareholders at a rate of no less than 40% of the net profit in the subsidiary's financial statements, after the deduction of corporate income tax and all reserves as defined by the laws and not higher than retained earnings as stipulated in the Company’s financial statements. The dividends payment is dependent on the Company’s performance, investment plan, its cash flows including future plan and in accordance with significant terms with the financial institutions.