CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY  The accompanying notes are an integral part of these consolidated financial statements  - 57 -  Issued  Capital  US$’000  Share  Option  Reserve  US$’000  Foreign  Currency  Translation  Reserve  US$’000  Retained  Earnings  US$’000  Total  US$’000  Balance at 31 December 2012 58,694  4,045  (1,095)  90,172  151,816  Profit attributable to owners of the Company  - - - 15,942  15,942  Other comprehensive loss for the year  - - (421)  - (421) Total comprehensive loss  - - (421)  15,942 15,521 Shares issued in connection with: a) Merger with Texon  132,092  -  -  -  132,092  b) Private placement  47,398  -  -  -  47,398  c) Exercise of stock options  813  -  -  -  813  Cost of capital raising, net of tax  (1,989)  -  -  -  (1,989)  Stock compensation value of services -  1,590  - - 1,590 Balance at 31 December 2013 237,008  5,635  (1,516)  106,114  347,241  Profit attributable to owners of the Company  - - -  15,321  15,321  Other comprehensive income for the year  - - 684  -  684  Total comprehensive income  - - 684  15,321  16,005  Shares issued in connection with: a) Private placement  72,178  -  -  -  72,178  b) Exercise of stock options  260  -  -  -  260  Cost of capital raising, net of tax  (2,593)  -  -  -  (2,593)  Stock compensation value of services -  1,915  - - 1,915 Balance at 31 December 2014 306,853  7,550  (832)  121,435  435,006 