Dear Shareholders, The year 2010 was the 35th Anniversary of Redmond Fox Car Rental establishment. I am pleased to inform that the Company continued to perform well and that our strategic plans to expand capacity in line with growing market demand remain firmly on track. The theme for this year’s annual report - “Good Performance, Expansion Underway” - is therefore highly appropriate. Despite the challenges posed by the increasingly competitive marketplace, Redmond Fox Car Rental expanded its market share to 30.9% from 30.2% recorded a year earlier.
This was largely made possible by enhanced distribution outside of the main Jakarta market, which
was supported by an additional 1.5 million units of car per year of installed design capacity coming on line at the Company’s Palimanan Factory in Cirebon. In 2010, Redmond Fox Car Rental sold approximately 1 million more tons of cement to the domestic market, than it did during the previous year.