PART I The Ministry of Transportation and Communications owned 4,096,765,224, or 35.29%, 3,764,363,593, or  35.29% and 3,422,148,720, or 35.29%, of our outstanding common shares as of December 31, 2008, 2009 and  2010 respectively.  As of April 18, 2011, 29 record holders held 60,718,694 ADSs (each representing 10 ordinary shares),  which represents approximately 7.8% of our total outstanding ordinary shares. Because many of these ADSs  were held by brokers or other nominees, we cannot ascertain the exact number of beneficial shareholders with  addresses in the United States.  We have not extended any loans or credit to any of our directors, supervisors or executive officers, and  we have not provided guarantees for borrowings by any of these persons. We have not entered into any fee- paying contract with any of these persons for them to provide services not within his or her capacity as a director,  supervisor or executive officer of our company, except that three of our directors who are also our employees  receive salaries from our company in their capacity as our employees.  Please refer to “Item 4. Information on the Company—A. History and Development of the Company” for  a discussion of our alliances, acquisitions and investments. Please refer to notes 1, 13 and 29 to our consolidated  financial statements included elsewhere in this annual report for descriptions of Chunghwa’s subsidiaries,  investments accounted for using equity method, and related party transactions.  On April 1, 2007, Chunghwa entered into an agreement with Senao making Senao the exclusive distributor  of mobile handsets to Chunghwa’s retail outlets. Under the terms of the agreement, Senao also provides mobile  handset sales services in Chunghwa’s retail outlets, exclusively sells Chunghwa’s SIM cards in Senao’s own  retail stores, and gets commission, subsidies of handset sold and warranties from Chunghwa. For the year  ended December 31, 2010, Senao received NT5.3 billion (US$180.2 million) from Chunghwa. Chunghwa also  sells mobile handsets and data cards to Senao. For the year ended December 31, 2010, Chunghwa sold mobile  handsets and data cards to Senao that amounted to NT1.4 billion (US$47.6 million).  Chunghwa acquired network equipment and related supplies from Chunghwa System Integration for  approximately NT$1.5 billion (US$53.1 million) in 2010.  Chunghwa purchased telecommunications exchange facilities and related supplies and replacement parts  from Taiwan International Standard Electronics for approximately NT$0.7 billion (US$23.5 million) in 2010.  On July 28, 2009, we provided a loan to our related party, ST-2 Satellite Ventures Pte., Ltd., in the amount  of SG$23.9 million at an interest rate of 6.38% per annum. The outstanding balance of the loan and interest  accrued was paid in full on April 1, 2010.  The foregoing transactions with related parties were determined in accordance with mutual agreements.  Not applicable.  See Item 18 for a list of all consolidated financial statements filed as part of this annual report on Form 20- F.  ITEM 8.  FINANCIAL INFORMATION  A. Consolidated Statements and Other Financial Information  C. Interests of Experts and Counsel  B. Related Party Transactions  99