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Opinion
In our opinion, the consolidated financial statements of the Group and the balance sheet of the Company are properly drawn
up in accordance with the provisions of the Act and Singapore Financial Reporting Standards so as to give a true and fair view
of the state of affairs of the Group and of the Company as at 31 December 2012 and the results, changes in equity and cash
flows of the Group for the year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiaries
incorporated in Singapore of which we are the auditors have been properly kept in accordance with the provisions of the Act.
ERNST & YOUNG LLP
Public Accountants and
Certified Public Accountants
Singapore
29 April 2013
Independent Auditor’s Report
For the Financial Year Ended 31 December 2012
To the Members of The Straits Trading Company Limited
The Straits Trading Company Limited ANNUAL REPORT 2012 47 /