Ref.: L27 – xxx

9January 2007

Mr Michael HUI

I/D No.

Present

Dear Mr. Hui

Letter of Appointment ( Draft )

Weare pleased to confirm your employment inthe Hong Kong office under the terms and conditionsbelow:-

  1. Position

Logistics Coordinator

  1. Date of Commencement

10January 2007

  1. Monthly Salary

HKDxx,xxx.xx

  1. Working Hours

0900-1730 hours (Monday - Friday)

0900-1300 hours (Saturday)

  1. Holidays/Annual Leave

Hong Kong statutory holidays/fifteen days (15) paid vacation after one calendaryear employment.

  1. Year End Double Pay

One month’s salary will be paid in January after a full calendar year of employment. If the employee resigns before the Lunar New Year, he/she isnot entitled to the year end double pay. If the employee’s contract is terminated after completion of the probation period, the employee is still entitled to the year end double pay (pro rata to the length of employment).

  1. Employment Insurance

Employment insurance scheme will be covered by a policy by AXAInsurance (Asia) Ltd. which is subject to Hong Kong Government’s Compensation Ordinance (Chapter 282)

  1. Mandatory Provident Fund

Employee shall join the MPF scheme managed and administrated by Manulife (International) Limited after 60 working days in our company.
A leaflet of the scheme rules and regulations will be presented upon the joining date.

Ref.: L27 – xxx

9 January 2007 P. 2

  1. Medical Scheme

Employee shall join the Medical Scheme managed and administrated byManulife Group Insurance after the probationary period. A leaflet of theScheme Rules and Regulations will be presented upon the joining date.

  1. Termination or Resignation

During the probation period, seven (7) days notice or seven (7) day’s salary in lieuof such notice must be given by either party after the first month. After the probation period,one (1) month notice or one (1) month’s salary in lieuof such notice must be given by either party.

  1. HSE Policy

Company will ensure employee to comply with the attached HSE policy withoutfail. Health, safety and environment will always be the top priority in dailywork.

  1. Privacy Policy Statements

In complying with the requirements of the Personal Data (Privacy) Ordinance, company will ensure the compliance by employee with the strictest standards of security and confidentiality. Company will not use employee’s personal data for any other purposes without prior consent unless such use is permitted or required by law.

  1. Others

Employee is entitled to all rights, benefits or protection under the EmploymentOrdinance, the Employees’ Compensation Ordinance and any other Ordinance.

Company and the employee hereby declare that they understand thoroughly the above provisions and further agree to sign and abide by such provision on
10January 2007.

Sincerely yours,Accepted by:

KY NGMichael HUI

CompanyEmployee

KY/th

Ref.: L27 – xxx

9 January 2007 P. 3

Dear All,

HSE Policy Statement

At Shenship, ourpeopleare thesource ofallourabilities andallour successes. Our future depends on the professionalexperiences,innovations,knowledgemanagementofourpeoplethroughcontinued training. This fuels the creativityand theenhancementof our services rendered to our integrated partners.

As our business activities are worldwide,we recognize wehavea responsibility tobe a good corporate citizen in our communities and help preserve the environmentfor the generations to come.

We understand that HSEisacore element of best practice. That iswhy wearecommitted to listening and responding to the needsof ourcustomers,ourworkmates,oursubcontractorsand ouragents whoareallourintegratedpartnersandtoworkingwithothers in the industry to raise HSE standards.

The care we put into the safetyofour servicesandpractices isstrictlycomplyingwithallenvironmentallaws andregulatorystandards on a worldwide basis.

No accidents,no harm to people,nodamage to the environment,and no delay ofprojectis not enough. We also need no wastage andnoexcessusageofanynaturalresourcesinourdailyworks. Therefore, ourpeoplecan go homehappily after the daily work.

Cordially yours,

K Y Ng
General Manager

KY/th

All business transactions are subject to the HAFFA Standard Trading Conditions, latest edition,

which in some circumstances limit or exempt the Company’s liability. A copy is available upon request.