To clarify the report of Economic Daily News on 2010/11/26
From：
SEQ_NO
1
Date of announcement
2010/11/26
Time of announcement
19:29:11
Subject
To clarify the report of Economic Daily News
on 2010/11/26
Date of events
2010/11/26
To which item it meets
article 2 paragraph 31
Statement
1.Name of the reporting media:Economic Daily News A3
2.Date of the report:2010/11/26
3.Content of the report:
According to the local press, the Shanghai plant of Far Eastern New Century
(FENC) is included in the anti-dumping tariff list of European Union. The
said anti-dumping is referred to all PET plants based in China.
4.Summary of the information provided by investors:NA
5.Company's explanation of the reportage or provided information:
1.European Union reviews all anti-dumping tariff cases every five years.
The initiation of the case reported by the local press today was in 2004,
and the said case is a routine periodical review. The said Shanghai
plant is FENC’s 100%-owned subsidiary – Far Eastern Industrial
(Shanghai).
The result of the review remains the same as those in 2004.
The applicable tax rate for Far Eastern Industrial (Shanghai) remains
as 2.6%, which is the second lowest among all the Chinese PET exporters.
Individual tax rates applied to other PET manufacturers, which included
in the list, range between 18.4 ~ 22.9%. A national tax rate of 22.9% is
applied to the remaining Chinese PET exporters.
2.To provide complete information for investors, clarification is made
hereby.
6.Countermeasures:To clarify the report of Economic Daily News
7.Any other matters that need to be specified:Nil
