Acquired Starland Holdings Limited (“Starland”), a property group listed on SGX’s Catalist Board, as a subsidiary of the Group. Starland engages principally in the development of quality integrated residential and commercial properties in the People’s Republic of China.

The Group also successfully tendered for a piece of 165mu industrial land in Tangshan City, PRC.

Signing of agreement between the Group and the People’s Government of Kaiping District, Tangshan City, PRC, which gives the Group first right of refusal to participate in an integrated mixed development project along Xinhua East Road of Tangshan City.

Raised S$2.7m by way of private placement.

Formal expansion into the property business after approval for diversification by shareholders. Completion of a Rights cum Warrants issue, successfully raising S$33.5m from the Rights and an additional S$9m from the exercise of warrants.

Disposal by GRP (China) Pte Ltd of its 75% equity interest in Shanghai Xinda Building Material Co. Ltd and its 25% equity interest in Suzhou Xinghai Plastic Products Co. Ltd was completed.

Disposal of the Group’s 16,000 square metres industrial office facility in Bukit Batok, Singapore under a sale-and-lease back arrangement.

Construction of a 16,000 square metres industrial office facility in Bukit Batok, Singapore was initiated. It was completed in 1997.

Region Suppliers, an international supplier of precision measuring instruments, was acquired as a wholly-owned subsidiary of the Group. In the same year, GRP (China) Pte Ltd was formed to take advantage of the opportunities being presented in China, particularly uPVC pipe manufacturing for the local construction industry.

An office and production facility at Tanjong Penjuru Crescent, Singapore, was acquired for the purpose of machining, fabricating and warehousing hose and fittings close to our customers.

GRP Ltd kickstarted its Hose & Marine business, and was established as a supplier/ manufacturer of high quality hose and fittings for the marine, oil and industrial sectors.