FY 2003 saw another successful year for Trek 2000 International Ltd ("Trek" or "the Group") as we continue to develop new solutions and establish strategic partnerships in the global IT market. Adhering to our vision to develop commercially viable and patentable solutions, we have invested our resources and built a library of patents. Having obtained approvals for 2 patents across 13 countries, this pool of intellectual property assets will continue to grow as we introduce new solutions into the market. Trek's achievements today are possible through customers' acceptance and recognition of our solutions; belief in our research and development ("R&D") skill sets by our business partners, and most importantly our team of dedicated engineers and diligent employees. All these people have created an environment conducive for the cultivation of new R&D ideas and more significantly, the translation of these concepts to actual solutions. The Singapore government, committed to nurture and develop our country into a knowledge-based economy and an intellectual property hub, has implemented a regulatory framework aimed at protecting and respecting intellectual property. Our success today is attributable to our customers' recognition of the power of our solutions and their strong respect for intellectual property rights. Our customers' endorsement of our solutions is especially encouraging to our team of R&D engineers and employees. It is a very strong catalyst that will continue to spur them on to challenge their own performance and creativity, as well as develop new solutions. The chain effect that we now see can be likened to an upward spiral with each level spurring the other to attain new heights. The interdependencies that we have forged between our partners, customers and employees are incentives for all parties to work and win together as we move into the increasingly competitive world. With the collaborative efforts of all, we are committed to continue our quest in creating tomorrow's winning intellectual property. On behalf of the Board of Trek, I would like to thank all our shareholders, customers, employees and business associates for the confidence that they placed in us over the last twelve months. We look forward to your support in the new financial year as we move on to meet the new challenges ahead. For the financial year ended 31 December 2003, the Board recommends a first and final dividend of 1 Singapore cent or 20% per ordinary share less tax, subject to the approval of the shareholders at the forthcoming Annual General Meeting.
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