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CORPORATE MILESTONES - THE YEAR THAT WAS

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INGENUITY SOLUTIONS BERHAD Annual Report 2004

Expansion of Research and Development (R&D) Operations 2 January 2003

Ingenuity opens its new R&D centre in Technology Park Malaysia, Bukit Jalil. The R&D centre houses Ingenuity's team of researchers and developers who work on ongoing projects, product development and R&D under the MSC R&D Grant Scheme, which is endorsed by the Ministry of Science, Technology and Innovation.

The main entrance to Ingenuity's R&D centre in Technology Park Malaysia.

The Ingenuity R&D team consists of technology professionals in the areas of CRM, financial and enterprise solutions.

An aerial view of Technology Park Malaysia's Enterprise 4 building, where Ingenuity's R&D centre is located.

Ingenuity's R&D centre is currently home to our researchers, engineers and developers.

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INGENUITY SOLUTIONS BERHAD Annual Report 2004

Signing Of Underwriting Agreement 17 December 2003

Commerce International Merchant Bankers Berhad (CIMB) and Ingenuity signs the underwriting agreement in conjunction with Ingenuity's listing on the MESDAQ Market of the Bursa Malaysia Securities Berhad.

Dr. Shafiq Sit Abdullah exchanging agreements with the Executive Director of CIMB Mr. Robert Cheim (right). Witnessing are Ir. Azman Ahmad, Technology Park Malaysia Corporation (TPM) President/CEO Y.Bhg Datuk Dr. Mohd Salleh (center) and CIMB's Director of Corporate Finance Mr. Andrew Tan (second from right).

Dr. Shafiq Sit Abdullah and Ir. Azman Ahmad presenting a memento to TPM President/ CEO Y.Bhg Datuk Dr. Mohd Salleh (right).

Distinguished guests for the underwriting ceremony include (from left) Executive Director of CIMB Mr. Robert Cheim, Ambassador of New Zealand H.E. Geoff Randal, Y.Bhg Dato' Zainol Abidin Haji Hamid and Y.Bhg En Ismail bin Din.

Ingenuity's management team fielding questions from the media following the ceremony.

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INGENUITY SOLUTIONS BERHAD Annual Report 2004

Initial Public Offer 27 February 2004

Ingenuity made its debut on the Mesdaq market of Bursa Malaysia Securities Berhad on 27 February, 2004. Under the listing exercise, Ingenuity issued 33.5 million 10 sen shares at an offer price of 55 sen.

Dr. Shafiq Sit Abdullah signaling the listing of Ingenuity Solutions Berhad on the MESDAQ Market. Looking on are (from left) fellow directors Ir. Azman Ahmad, Thong Swe Chong, Wong Hun Liang, Yau Yat Hoong and Gricia Gan.

Dr. Shafiq Sit Abdullah receiving the Listing Guidelines as a commemoration from Y.Bhg Datuk Noorazman Abdul Aziz, COO of Bursa Malaysia Securities Berhad.

CIMB's Mr. Andrew Tan (center) sharing a light moment with Ingenuity's Dr. Shafiq Sit Abdullah and Ir. Azman Ahmad.

The Ingenuity management team at the press conference following the IPO listing. From left: Toh Chun-Kit, Ir. Azman Ahmad, Dr. Shafiq Sit Abdullah, Yau Yat Hoong and Wong Hun Liang.

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INGENUITY SOLUTIONS BERHAD Annual Report 2004

Research & Development (R&D) Secondment to Spain 13 ­ 26 June 2004

Ingenuity took another step forward in its research and development activities with its R&D staff being seconded to work alongside accomplished technology researchers and experts at the Universidad Politecnica De Madrid in Madrid, Spain.

Part of Ingenuity's R&D team with Spanish researchers Dr. Pherrer (far right) and Dr. Ernestina Ruiz (second from left).

Ingenuity's R&D team member at work at the Universidad Politecnica De Madrid in Spain.

Visit to AIC Capital in Shanghai 29 July 2004

Ingenuity and AIC Capital Co Ltd (AIC), an established investment and corporate group in Shanghai, signed a memorandum of understanding (MOU) on 24 February 2004 to establish Ingenuity's market presence in China. Following the MOU signing, Ingenuity has taken positive steps toward achieving this goal with a visit to AIC's office in Shanghai, China.

Ingenuity CEO Ir. Azman Ahmad with Mr. Thomas Li (left), Deputy Chief Representative of AIC Capital at the AIC office in Shanghai.

Ir. Azman Ahmad and Mr. Thomas Li with other AIC Capital Shanghai office representatives.

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INGENUITY SOLUTIONS BERHAD Annual Report 2004

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