Resolution Passed At Annual General Meeting

Pursuant to Clause 704(14) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of HG Metal Manufacturing Limited (the "Company") wishes to announce that the following resolutions put to the Annual General Meeting of the Company held on 28 March 2003 were duly passed:-

1. That the Accounts for the year ended 31 October 2002 together with the Directors' and Auditors' Reports thereon as published and circulated to all members and now submitted to this meeting be and are hereby received and adopted.
2. That a first and final net dividend of 5% be declared payable for the year ended 31 October 2002.

3a. That Mr Teo Kiang Kok retired in accordance with Article 88 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company.

3b. That Mr Ooi Seng Soon retired in accordance with Article 88 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company.

3c. That Mr Gui Kim Young @ Gui Kim Gan retired in accordance with Article 88 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company.

3d. That Mr Lee Leng Loke retired in accordance with Article 88 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company.

3e. That Mr Wee Piew retired in accordance with Article 88 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company.

4. That Mr Tan Ah Bee retired in accordance with Article 89 of the Company's Articles of Association, but being eligible and offering himself for re-election, be and is hereby re-elected as Director of the Company.

5. That BDO International be and are hereby re-appointed Auditors of the Company to hold office until the conclusion of the next Annual General Meeting and that the Directors be authorised to fix their remuneration.

6. That a sum of S$67,500/- be approved for payment as Directors' Fees for the year ended 31 October 2002.


7.1 Authority To Issue Shares

That pursuant to Section 161 of the Companies Act, Cap. 50 and the listing rules of the Singapore Exchange Securities Trading Limited, authority be and is hereby given to the Directors of the Company to allot and issue shares and convertible securities in the Company (whether by way of rights, bonus or otherwise) at any time to such persons and upon such terms and conditions and for such purposes as the Directors may in their absolute discretion deem fit, provided that the aggregate number of shares and convertible securities to be issued pursuant to this resolution does not exceed 50 per cent of the issued share capital of the Company, of which the aggregate number of shares and convertible securities to be issued other than on a pro-rata basis to existing shareholders of the Company does not exceed 20 per cent of the issued share capital of the Company, and for the purpose of this resolution, the issued share capital shall be the Company's issued share capital at the time this resolution is passed (after adjusting for any subsequent consolidation or subdivision of the Company's shares), and unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier.

BY ORDER OF THE BOARD