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The Board announces that on 20 September 2012, the Company and its wholly-owned subsidiary, Direct Sourcing Group Pte. Ltd., entered into a new agency agreement with Wal-Mart Stores, Inc. that supersedes the previous buying agency agreements made on 28 January 2010. At the same time, the Option Agreement pursuant to which Wal-Mart Stores, Inc. had the option to purchase all of the shares of Direct Sourcing Group Pte. Ltd. was terminated.
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