UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 3)*
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO 13d-2(a)
EMERSON RADIO CORP.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
291087203
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(CUSIP Number)
Ruby Lee Yen Kee, Esq.
Managing Director, Legal
The Grande Holdings Limited
146 Robinson Road #01-01
Singapore 068909
011-65-6221-0010
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 25, 2006
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box |_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
(Continued on following pages)
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291087203 SCHEDULE 13D
CUSIP No.
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1 NAME OF REPORTING PERSON
S&T International Distribution Ltd
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7 SOLE VOTING POWER
NONE
NUMBER OF -------------------------------------------------------------
8 SHARE VOTING POWER
SHARES 10,000,000 shares of Common Stock.
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BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY EACH NONE
-------------------------------------------------------------
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON WITH 10,000,000 shares of Common Stock.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,000,000 shares of Common Stock.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|X|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.97%
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14 TYPE OF REPORTING PERSON
CO
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2
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291087203 SCHEDULE 13D
CUSIP No.
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1 NAME OF REPORTING PERSON
Grande N.A.K.S. Ltd
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7 SOLE VOTING POWER
NUMBER OF NONE
-------------------------------------------------------------
SHARES 8 SHARE VOTING POWER
BENEFICIALLY 10,000,000 shares of Common Stock.
-------------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING NONE
-------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
10,000,000 shares of Common Stock.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,000,000 shares of Common Stock.
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|X|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.97%
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14 TYPE OF REPORTING PERSON
CO
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3
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291087203 SCHEDULE 13D
CUSIP No.
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1 NAME OF REPORTING PERSON
The Grande Holdings Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7 SOLE VOTING POWER
NUMBER OF NONE
-------------------------------------------------------------
SHARES 8 SHARE VOTING POWER
BENEFICIALLY 11,099,600 shares of Common Stock.
-------------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING NONE
-------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
11,099,600 shares of Common Stock.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
11,099,600 shares of Common Stock.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.04%
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14 TYPE OF REPORTING PERSON
CO
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4
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291087203 SCHEDULE 13D
CUSIP No.
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1 NAME OF REPORTING PERSON
Christopher Ho Wing On
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF, BK
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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7 SOLE VOTING POWER
NUMBER OF NONE
-------------------------------------------------------------
SHARES 8 SHARE VOTING POWER
BENEFICIALLY 11,099,600 shares of Common Stock.
-------------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING NONE
-------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
11,099,600 shares of Common Stock.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
11,099,600 shares of Common Stock.
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.04%
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14 TYPE OF REPORTING PERSON
IN
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5
This Amendment No. 3 to Schedule 13D relates to shares of Common
Stock (the "Common Stock"), of Emerson Radio Corp. (the "Emerson"). This
Amendment No. 3 supplementally amends the initial statement on Schedule 13D,
dated December 15, 2005 (the "Initial Statement"), Amendment No. 1, dated March
7, 2006 ("Amendment No. 1") and Amendment No. 2, dated May 9, 2006 ("Amendment
No.2"), and together with the Initial Statement and Amendment No.1, the
"Previous Filings"), both filed by the Reporting Persons (as defined in the
Initial Statement). This Amendment No. 3 is being filed by the Reporting Persons
to report that the number of Common Stock that the Reporting Persons may be
deemed to beneficially own has increased by more than one percent of the current
amount of outstanding Common Stock, as disclosed in the Emerson's quarterly
report on Form 10-Q filed on February 14, 2006. Capitalized terms used but not
defined herein shall have the meanings ascribed to them in the Initial
Statement. The Previous Filings are supplementally amended as follows.
ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D/A (the "Statement") relates to the Common
Stock of Emerson.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
(1) THE GRANDE HOLDINGS LIMITED ("Grande Holdings") (a Bermuda corporation
engaged in manufacturing, sale and distribution of audio, video and other
consumer electronics and digital products), the executive offices of which are
located at 12th Floor, The Grande Building, 398 Kwun Tong Road, Kowloon, Hong
Kong;
(2) GRANDE N.A.K.S. LTD ("N.A.K.S.") (a British Virgin Islands corporation
engaged in purchasing, selling or holding of securities or other investments),
the executive offices of which are located at 146 Robinson Road, #01-01
Singapore 068909;
(3) S&T INTERNATIONAL DISTRIBUTION LTD ("S&T") (a British Virgin Islands
corporation engaged in purchasing, selling or holding of securities or other
investments), the executive offices of which are located at 146 Robinson Road,
#01-01 Singapore 068909;
(4) CHRISTOPHER HO WING ON. Mr. Ho is a citizen of Canada. Mr. Ho's business
address is 146 Robinson Road, #01-01 Singapore 068909. Mr. Ho is the President
and Group Chief Executive of Grande Holdings.
Each of the Reporting Persons is party to that certain Joint Filing
Agreement attached hereto as Exhibit 1. Accordingly, the Reporting Persons are
hereby filing a joint Schedule 13D.
As of the date of this Statement, S&T has the direct power to vote and
direct the disposition of the 10,000,000 shares of the Issuer's Common Stock
held by it (the "Original Shares"). The Grande Group Limited ("GGL") (a
Singapore corporation engaged in purchasing, selling or holding of securities or
other investments), the executive offices of which are located at 146 Robinson
Road, #01-01 Singapore 068909, has the direct power to vote and direct the
6
disposition of 1,099,600 shares of the Issuer's Common Stock held by it (the
"Additional Shares" and together with the Original Shares, the "Shares"). As the
sole parent of S&T, N.A.K.S. has the indirect power to vote and dispose of the
Original Shares held for the account of S&T. As the sole parent of N.A.K.S. and
the sole parent of GGL, Grande Holdings has the indirect power to vote and
dispose of the Shares held for the account of S&T and GGL. As the owner of
approximately 64% of the share capital of Grande Holdings, Barrican Investments
Corporation ("Barrican") has the indirect power to vote and dispose of the
Shares held for the account of S&T and GGL. As the sole parent of Barrican, The
Grande International Holdings Ltd ("Grande International") has the indirect
power to vote and dispose of the Shares held for the account of S&T and GGL. As
the sole owner of Grande International, the Ho Family Trust has the indirect
power to vote and dispose of the Shares held for the account of S&T and GGL. As
the sole beneficiary of the Ho Family Trust, Mr. Ho has the indirect power to
vote and dispose of the Shares held for the account of S&T and GGL. In such
capacities, Grande Holdings, N.A.K.S. and Mr. Ho may be deemed to be the
beneficial owners of the Shares held for the account of S&T and GGL.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since May 9, 2006 (the date of filing of Amendment No. 2), all
Common Stock acquired by the Reporting Persons were acquired by GGL. The source
of funds for the Additional Shares was the working capital of GGL. The total
purchase price for the shares acquired since May 9, 2006 was approximately
US$1,390,940. Neither Mr. Ho, Grande Holdings nor N.A.K.S. directly owns any
Common Stock.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons wish to be in a position to exercise greater
influence over the management and corporate activities of Emerson, including
activities which may relate to transactions described in subparagraphs (a)
through (j) of Item 4 of Schedule 13D. Accordingly, depending on prevailing
market, economic and other conditions, including in particular the price and
availability of shares of Common Stock, the Reporting Persons may seek to
acquire more than 50% of the issued and outstanding shares of Common Stock of
Emerson through additional share purchases in the open market or
privately-negotiated transactions.
On March 30, 2006, the Board of Directors of Emerson appointed Adrian Ma
as the Chairman of the Board and CEO of Emerson. Mr. Ma is also a director of
N.A.K.S. and Grande Holdings, and joins on the Board of Directors of Emerson
another director of N.A.K.S. and Grande Holdings, Michael A. B. Binney, who was
elected as director at the annual meeting of Emerson's shareholders, which was
held on December 9, 2005.
Except as indicated in this Schedule 13D, none of the Reporting Persons
or, to the best of their knowledge, any of the other persons identified in
response to Item 2, currently has any plans or proposals that relate to or would
result in any of the transactions described in subparagraphs (a) through (j) of
Item 4 of Schedule 13D.
7
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
S&T is the record owner of the Original Shares and GGL is the record owner
of the Additional Shares. As the sole stockholder of S&T, N.A.K.S. may be deemed
to own beneficially the Original Shares. As the sole stockholder of N.A.K.S and
GGL, Grande Holdings may be deemed to own beneficially the Shares. Mr. Ho has a
beneficial interest in approximately 64% of the capital stock of Grande
Holdings. By virtue of such interest and his position with Grande Holdings, Mr.
Ho may be deemed to have power to vote and power to dispose of the Shares
beneficially held by Grande Holdings.
a. N.A.K.S. and S&T may be deemed to own beneficially 36.97% of the Common
Stock of Emerson, which percentage is calculated based upon 27,047,666
shares of Common Stock reported to be outstanding as of February 13, 2006.
Grande Holdings and Mr. Ho may be deemed to own beneficially 41.04% of the
Common Stock of Emerson. Each of the Reporting Persons, except S&T,
disclaims beneficial ownership of the Shares.
b. Regarding the number of shares as to which such person has:
i. sole power to vote or to direct the vote: 0 shares for each
Reporting Person.
ii. shared power to vote or to direct the vote: 11,099,600 shares for
each Reporting Person.
iii. sole power to dispose or to direct the disposition: 0 shares for
each Reporting Person.
iv. shared power to dispose or to direct the disposition: 11,099,600
shares for each Reporting Person.
c. Except for the transactions listed on Annex B hereto, all of which were
effected in the over-the-counter market in routine brokerage transactions,
there have been no transactions with respect to the Common Stock since May
9, 2006 (the date of filing of Amendment No. 2) by any of the Reporting
Persons.
d. No other person is known to have the right to receive or the power to
direct the receipt of dividends from, or any proceeds from the sale of,
the Common Stock beneficially owned by any of the Reporting Persons.
e. Not Applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1: Joint Filing Agreement, dated May 24, 2006 by and among Grande
Holding, N.A.K.S., S&T and Mr. Ho.
8
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: May 24, 2006
/s/ Christopher Ho Wing On
--------------------------
CHRISTOPHER HO WING ON
THE GRANDE HOLDINGS LIMITED
By: /s/ Christopher Ho Wing On
-----------------------------------
Name: Christopher Ho Wing On
Title: Director
GRANDE N.A.K.S. LTD.
By: /s/ Christopher Ho Wing On
-----------------------------------
Name: Christopher Ho Wing On
Title: Director
S&T INTERNATIONAL DISTRIBUTION LTD.
By: /s/ Christopher Ho Wing On
-----------------------------------
Name: Christopher Ho Wing On
Title: Director
ANNEX A
RECENT TRANSACTIONS IN THE SECURITIES OF
EMERSON RADIO CORP.
Transactions for the account of GGL since May 8, 2006.
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Date of Transaction Nature of Number of Price per Share
Transaction Shares
Acquisition (A) or
Disposition (D)
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9 May 2006 A 58,000 US$3.4348
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10 May 2006 A 40,000 US$3.4050
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11 May 2006 A 20,500 US$3.3988
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12 May 2006 A 22,000 US$3.4000
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15 May 2006 A 20,000 US$3.4250
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16 May 2006 A 20,000 US$3.4000
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17 May 2006 A 30,000 US$3.3733
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18 May 2006 A 60,000 US$3.3867
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19 May 2006 A 30,100 US$3.3790
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22 May 2006 A 10,600 US$3.2613
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23 May 2006 A 25,000 US$3.4019
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24 May 2006 A 40,000 US$3.4081
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25 May 2006 A 33,000 US$3.4091
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10
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D/A dated May 24,
2006 (including amendments thereto) with respect to the Common Stock of Emerson
Radio Corp. This Joint Filing Agreement shall be filed as an Exhibit to such
Statement.
Dated: May 24, 2006
/s/ Christopher Ho Wing On
------------------------
CHRISTOPHER HO WING ON
THE GRANDE HOLDINGS LIMITED
By: /s/ Christopher Ho Wing On
-----------------------------------
Name: Christopher Ho Wing On
Title: Director
GRANDE N.A.K.S. LTD
By: /s/ Christopher Ho Wing On
-----------------------------------
Name: Christopher Ho Wing On
Title: Director
S&T INTERNATIONAL DISTRIBUTION LTD
By: /s/ Christopher Ho Wing On
-----------------------------------
Name: Christopher Ho Wing On
Title: Director
11