Throughout 2010, global economy, environment and politics encountered with fluctuation and changes. Recovery of global economy from deep recession through past 2-3 years has shown significant positive sign and improvement. The Company closely monitored the situation and had to be more prudent in planning and executing. The business plan and strategies have been reviewed, including production plan, sales and marketing strategies, improvement of business process, cost reduction, energy saving and effective cash flow management. With their best effort and striving of executives and employees brought a close to target outcomes for 2010.

               Operating in a highly competitive market environment, the Company strongly believes that developing our human resource lies at the foundations of our business. The Company believes in skills and knowledge potential of all employees. It is notable that we regard this as one of our goals to develop support and coach our employees so that they adapt to become proactive and flexible to changes and at the same times comply with our code of conducts and ethics. With the Company’s support, this will allow them to fully develop their own potential. The company also introduced a new systematic approach “Pay for Performance” which describes financial returns to match employee’s performance.

              The Company sets its sight on value creative and sustainable growth and is firmly committed to becoming a trustworthy and highly responsible organization for all stakeholders through safety and environment awareness and compliance with Good Corporate Governance practices to be the excellence.

              On behalf of Board of Directors, I would like to graciously thank all shareholders, supporters and all stakeholders for the continued trust in and support the Company, Rest assured that we will continue to work with all our effort and sought keeping in mind Good Corporate Government for benefit of all stakeholders. We will strive towards business strength with environment, society and community responsibility “TO BE THE EXCELLENT COLD ROLLED MILL FOR ALL STAKEHOLDERS AND CONTRIBUTING TO SOCIETY”.