Family members of Mr. Hui Kau Mo - 57.15% interest

Company Subsidiaries:

Wing Hong Investment Limited 100%: Investment holding

Shing Tak Construction Company Limited 100% Investment holding

Wing Hong Contractors Limited: 100% Building construction and maintenance works

Wing Hong Contraction Limited: 100% Building construction and renovation works

Wing Hong (China) Limited: 100%Investmetn holding

Wing Hong Interior Contracting Limited 100 % renovation works

Good Busy International Limited 100% Property holding

Cotak Enterprises Limited 100% Property holding

Power Pond Limited100% Property holding

Wealth Properties Limited100% Property holding

Kofit Properties Limited100% Property holding

The Group is principally engaged in a broad spectrum of construction works for both public and private sectors in Hong Kong, namely (i) building construction and foundation and (ii) other civil engineering work not involving construction of buildings, which includes renovation, maintenance fitting out, site formation and civil engineering.

The Group's role as a main contractor includes the provision of overall project management and supervision of works conducted by its subcontractor to ensure their conformity to contract specifications and that projects are completed on time and budget.

The Group's building construction and foundation is primarily focused on the construction of public housing and private residential buildings. In addition, it has also built shopping centers and hotels, and has undertaken the conversion and extension works for aided schools under the School Improvement Programme.

The Group's projects in other civil engineering works not involving construction of buildings comprises renovations, maintenance, fitting out, site formation, term contracts of minor works, alterations, additions, maintenance and repairs of Government buildings, lands and other properties in various designated contract areas and other civil engineering works in the public sector. In the private sector, the Group's projects cover term contracts for other alteration, fitting-out, improvement works as well as site formation works.

The Directors believe that the Group has the following competitive advantages:

• Its established reputation as a dedicated contractor achieving customer satisfaction, quality of work and cost control;
• Its experience in both the private and public construction sectors;
• It commitment to seeking and adopting cost effective construction techniques and materials that enables the Group to minimize time for completion of contract
• Its ability to carry out diversified construction works ranging from general building works such as site formation, foundation, roads and drainage works, based on its competence acknowledged and the licenses awarded by the Government authorities.
• Its operational flexibility in combing income generated from the Group's maintenance work for Government and institution buildings which is not effected by the status of the property market, with income generated from the building construction business which is subject to cyclical nature of the property market;
• Its commitment to maintaining safety standard quality control, and environmental protection; and
• Its experienced and dedicated staff and competent management team.

• Litigation, arbitration and contingent claims
• Reliance on major clients
• Reliance on work performed by major subcontractors
• Profit recognition
• Outstanding accounts receivable
• Reliance on key management
• Dependence on long duration projects which are not recurrent in nature
• Dividends
• Joint venture arrangements
• Uninsured losses
• Risk relating to the Group's leased properties
• Competition
• Currency risks

One of the Group strategy is to cater the specific need of it clients, including the Government, through strengthening the Group's technical know-how.

Although the Group has, in the past, gained extensive experience from projects that vary in nature, a large portion of its revenue was generated from building construction. As such, the group plans to increase it participation in site formation, foundation, maintenance and fitting-out projects.

Instead of shifting its resource from one business segment to another, the Group will expand the scope of its construction services provided. In view of the growing offer of design and build contract, which requires the main contractor to provide one-stop construction services, from inception to completion, based on the clients' requirement and budget, the Group will strengthen its design team that comprises architects, structural engineers, building services engineers and quantity surveyor, so as to capture such opportunities.

Since the inception of the Group, it has been focusing to establish itself in the Hong Kong construction industry. Taking into account the tremendous market size and growth potential, the Group plans to identify appropriate joint venture partner in the PRC to explore development opportunities.

Leveraging on the group's business relationship in the construction industry, the Directors intend to further expand its business into the property development segment, which is an integral part of the construction industry, by investing in local existing properties with value appreciation potential after renovation.

The net proceeds from the Placing, after deducting the related expenses, are estimated to amount to approximately HK$41 million based on the offer price HK$0.25 per share. The Group at present intends to apply the net proceeds as follows:

¡@

¡@