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With respect to Wan-Xi project, LED is responsible for selling the land, and Ruentex Development Co., Ltd. is responsible for the construction and sale of the buildings. Advanced from customers for land and buildings of NT$16 million was recognized as revenue from liquidated damage due to customers’ breaches of contract, and the corresponding deferred marketing expenses of NT$12 million were recognized as expenses in 2009. There was no breach of contract in 2010. 

With respect to Li-Shui (A) and (B) projects, LED is responsible for selling the land and Kindon Construction Corp. is responsible for building construction and selling the buildings. 

With respect to LightEra- Covent Project, LED is responsible for selling the land and planning the design, and Covent Garden Development Co. is responsible for building construction and selling the buildings. 

b. Land held for development of LED as of December 31, 2009 and 2010 were as follows: 

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The advances from lands and buildings of Zhongshan Sec., Banqiao Dist., New Taipei City were NT$68 million and its deferred marketing expenses were NT$12 million as of December 31, 2009. The land held for development of Zhongshan Sec., Banqiao Dist., New Taipei City was reclassified as land held under development of Guang-Diang project in 2010. 

The lands held for development of Yanping Sec., Changhua City, Changhua County, Subsection 2, Jinhua Sec., Da’an Dist., Taipei City and Subsection 1, Jinhua Sec., Da’an Dist., Taipei City were reclassified as lands held under development of Covent Garden, Li-Shui (A) and Li-Shui (B) projects in 2010, respectively. 

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