Kag Gyu Hwang

Times Ltd. are one of the leading operators of hypermarkets and supermarkets in the People’s Republic of China (the “PRC” or “China”). Since the company's inception in 1997, the company have directed the company focus on building the company's business presence in the eastern China region, one of the most affluent and fastest-growing regions of China. The company are an established and recognized retail operator in the provinces of Jiangsu, Zhejiang, Anhui and Shandong and the municipality of Shanghai. According to the joint announcement made by the Ministry of Commerce and the China Chain Store & Franchise Association regarding the top 100 PRC retail chain enterprises in 2007, Jiangsu Times Supermarket Co., Ltd. (the company's wholly-owned subsidiary) was ranked 31st among the top 100 PRC retail chain enterprises. The shares of the Company have been listed on The Stock Exchange of Hong Kong Limited since 16 July 2007 (Stock code: 1832). As at 31 August 2009, the company operated 64 stores including 52 hypermarkets and 12 supermarkets with a total gross floor area of approximately 883,378 square meters. The company are led by the company's directors who have proven track record in managing successful businesses in Hong Kong, the PRC and in other overseas markets. Supporting the board of directors is the company's senior management team, comprising (i) Taiwanese professionals with extensive overseas experience in managing and operating hypermarkets and supermarkets and (ii) high caliber Chinese nationals with wide ranging Chinese retail experience.