From AGMON CHINAQUIKTRAK NETWORKS LIMITEDANNUAL GENERAL...

From AGM

ON CHINA

QUIKTRAK NETWORKS LIMITED
ANNUAL GENERAL MEETING
28 NOVEMBER 2007

Chairman’s Address

Welcome to QuikTrak’s Annual General Meeting for 2007. I’ve said before that this year has marked a turning point in the operations and direction for QuikTrak: this is an appropriate description of our operations over the last year.

I today acknowledge the difficulties that we have faced. While the Company reported a loss after tax of $4.4million in 2007 this result represents a significant turn around in our performance when compared with the previous year’s results of a loss of almost $14million.
Significantly, and importantly, the loss after tax also takes into consideration the impairment loss against our China developments, a reassessment of the carrying value of selected inventory and the cost of our international development of some $3.7million. I’ll say more on our China activities shortly.

Importantly, we’ve needed to take this hit in order to move forward.????????????

To this end our international and domestic strategies are geared to delivering new opportunities and increase our international market footprint.InternationalImportantly, we’ve needed to take this hit in order to move forward