PREPAYMENTS AND OTHER RECEIVABLES

6 Months Ended

Jun. 30, 2012

PREPAYMENTS AND OTHER RECEIVABLES [Text Block]

4. PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other receivables consist of the following:

		June 30, 2012		December 31, 2011
Advance to suppliers	$	1,971,171	$	7,753,707
Tenant improvements of Mintai Building		2,978,624		2,989,928
Due from third party companies		2,680,755		686,720
Prepaid office rental, petty cash and others		811,539		479,502
Rental deposits to lessors		425,316		426,930
Prepaid taxes and input VAT		53,420		27,978
	$	8,920,825	$	12,364,765

For the period ended June 30, 2012, due from third party companies were non-interest bearing loans to third parties for their working capital purposes.

Advance to suppliers were mainly for prepayments to suppliers of the Group’s trading business segment to guarantee a supply of goods.