SED has filed all reports, schedules, forms, statements and other documents required to be filed by SED by applicable law and with the SED Trading Market for the twelve months preceding the date hereof (or such shorter period as SED was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “ SGX Reports ”) on a timely basis or has received a valid extension of such time of filing and has filed any such SGX Reports prior to the expiration of any such extension. As of their respective dates, the SGX Reports complied in all material respects with the requirements of applicable law and the SED Trading Market, and none of the SGX Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of SED included in the SGX Reports comply in all material respects with applicable accounting requirements and applicable rules and regulations, including those of the SED Trading Market, with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with generally accepted international accounting principles applied on a consistent basis during the periods involved, except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes so required, and fairly present in all material respects the financial position of SED and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.