Ann: ASX Letter to XPD, page-16

An article in todays Financial Review on page 9 highlights the difficulties Chinese listed ASX stocks are having with Chinese Capital controls. TTC has a very similar story to XPD, though it is still trading on the ASX. Some Chinese ASX listed stocks are having trouble even paying bills in Australia. TTC has a PE ratio of 1.26, with $22m in the bank. TTC has indicated that it was able to transfer money out of China, but only to pay dividends for non-Chinese resident shareholders.