One Central Residences, Macau 

In 2006, we made an initial investment in four high-end residential apartments in a new development in Macau, One Central Residences.  By investing in the project at an early stage, we believe that we were able to secure high floor units at relatively attractive prices. We have recently completed the sales of all four of the apartments and the gross proceeds realized were approximately U.S.$9.0 million. This translated into a gain of approximately 53.8 per cent. over our cost of investment. The sale of the final apartment completed on 13 September 2012 and we currently have no investments in Macau. 

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