[nd YEAR 2011 / 2 RESULTS OF OPERATIONS OF GLOBAL SOURCES LTD. The following discussion of our financial condition and results of operations should be read in conjunction with the accompanying financial statements. Overview We are a leading business-to-business (B2B) media company and a primary facilitator of two-way trade with Greater China. The core business is facilitating trade from Greater] [GLOBAL SOURCES LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In U.S. Dollars Thousands, Except Number of Shares and Per Share Data) As at June 30, As at December 31, 2011 2010 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 132,911 $ 101,298 Term deposits with banks 1,032 1,411 Accounts receivables] [GLOBAL SOURCES LTD. AND SUBSIDIARIES ACTUAL GAAP TO IFRS RECONCILIATION (In U.S. Dollars Thousands) Three months Six months ended June 30, ended June 30, 2010 2010 U.S. GAAP Net Income Attributable to the Company $ 7,250 $ 9,839 IFRS conversion adjustments:]