GLG CORP LTD — Interim / Quarterly Report 2009

Mar 1, 2009

GLG CORP LTD

Results Presentation For the half year ended 31 December 2008

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Half Year Highlights

• GLG Corp Ltd Sales decreased 11.0% to US$100.0 million. Results Half-Year Ended 31 December 2005

• Net Profit After Tax decreased 53.8% to US$2.0 million.

• EPS of US 2.7 cents compared to US 5.87 cents in Dec 2007

GK Soh Chief Executive Officer

• Eu Mun Leong - Chief Financial Officer

• • N ~~TA~~ per share US 36.7 cents up from US 31.4 cents

6-7 March 2006

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GLG Corp Ltd Financial Updates 31 December 2008

Consolidated P&L Analysis:

- 1[st] half year ended 31 December 2008

	31 December 2008 US$ million	31 December 2007 US$ million	% change
Revenue	100.0	112.4	(11.0)%
Cost of Sales	(90.3)	(100.9)	(10.5)%
Gross profit	9.7	11.5	688.7%
Other Income	0.8	0.6	33.3%
Distribution expenses	(1.7)	(0.7)	142.9%
Administrative expenses	(5.4)	(5.3)	1.9%
Finance cost	(0.3)	(0.8)	(62.5)%
Other expenses	(0.6)	(0.4)	50.0%
Share of losses of jointly controlled entities	(0.2)	-	100.0%
Profit before tax	2.3	4.9	(53.1)%
Income tax expense	(0.3)	(0.5)	(40.0)%
Profit after tax	2.0	4.4	(54.5)%

Balance Sheet Analysis: SummaryConsolidated P&L Analysis:

Half-yea CURRENT ASSETS Cash Trade Receivable	Half-yea CURRENT ASSETS Cash Trade Receivable	Half-yea CURRENT ASSETS Cash Trade Receivable	Half-yea CURRENT ASSETS Cash Trade Receivable	Half-yea CURRENT ASSETS Cash Trade Receivable	Half-yea CURRENT ASSETS Cash Trade Receivable	r ended 31 D 31 Dec 2008 US$ million	ecember 2 31 Dec 2007 US$ million	005 Variance
						1.1	2.8	(60.7)%
						22.3	22.7	(1.8)%
In A$ million at a AUD/USD exchange rate of 0.73 ~~(For illustration purposes only.~~ The reporting currency of GLG is the US$) Advance, prepaym NON-CURRENT AS TOTAL ASSETS CURRENT LIABILIT	Proforma ~~31 December~~ ents & other re	~~31~~ ceivable	Varience	% Varienc		1.7	1.4	21.4%
	2004 SETS	December 2005		~~e~~		6.3	1.6	293.8%
						31.4	28.5	10.2%
	IES					2.1	2.5	(16.0)%
Interest Expenses Accounts payable Interest bearing lia	0.282	0.577	0.295	105%
	bilities					0.8	0.8	-
~~Borrowings (average)~~ Tax provision
	~~21.4~~	~~20.8~~	~~(0.6)~~	~~(3)%~~		0.8	0.6	33.3%
Interest Rate NON-CURRENT LIA Interest bearing lia	4.44% BILITIES	7.56%	3.12	70%
	bilities					0.4 0.1	1.3 0.1	(69.2)% -
Interest Variance due to interest rate increase ~~Interest variance due to borrowings decrease~~ Total Net Increase in Interest Tax liabilities NET ASSETS EQUITY & RESERVES				0.326
						27.2	23.2	17.2%
				(0.031)
						27.2	23.2	17.2%
				0.295

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Balance Sheet Analysis: Liquidity RatiosConsolidated P&L Analysis:

Consolidated P&L Analysis: Balance Sheet Analysis: Liquidity Ratios	Consolidated P&L Analysis: Balance Sheet Analysis: Liquidity Ratios	Consolidated P&L Analysis: Balance Sheet Analysis: Liquidity Ratios	Consolidated P&L Analysis: Balance Sheet Analysis: Liquidity Ratios
Current Asset Ratios	~~Half-year e~~ 31 Dec 2008	~~nded 31 Dece~~ 31 Dec 2007	~~mber 2005~~ Change
Debtors turnover (days)	45 days	42 days	+3 days
Current Ratio (X)	6.74 x	7.01 x	- 0.27x
Cash	US$1.1 m	US$2.8 m	- US$1.7 m
Leverage
Debt to Equity	0.05 x	0.09 x	-0.04x
Interest Coverage	7.7x	10.7x	-3.6 x
Total bank facilities available	US$73m	US$70m	+US$3m
Average usage of bank facilities (%)	70%	70%	-

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Cash Flow Statement Consolidated P&L Analysis:

	~~Half-year ended 31~~ Results:1st Half-year ended 31 Dec 2008	~~Half-year ended 31~~ Results:1st Half-year ended 31 Dec 2008	~~Half-year ended 31~~ Results:1st Half-year ended 31 Dec 2008	~~Half-year ended 31~~ Results:1st Half-year ended 31 Dec 2008	~~Half-year ended 31~~ Results:1st Half-year ended 31 Dec 2008	~~Half-year ended 31~~ Results:1st Half-year ended 31 Dec 2008	~~Decembe~~ 2008 US$m	~~r 2005~~ 2007 US$m
	at a AUD/USD e of 0.73 ion purposes only. g currency of GLG Proforma 31 December 2004 31 December 2005 Varience % Varienc e Receipts from customers Payments to suppliers and employees Interest paid Income taxes paid Net Operating Cash Flows						95.6 (97.1) (0.3) (0.5) (2.3)	104.8 (98.0) (0.5) (1.0) 5.3
In A$ million exchange rat (For illustrat The reportin is the US$)	at a AUD/USD e of 0.73 ion purposes only. g currency of GLG Interest p Income ta Net Oper	Proforma 31 December 2004 aid xes paid ating Cash F	31 December 2005 lows	Varience	% Varienc e
	Purchase	s of propert	y, plant an	d equipm	ent		(0.1) 0.1 0.1	(0.1) - (0.1)
Interest E	xpenses Interest r ~~Net Inves~~	0.282 eceived ~~tin Cash Fl~~	0.577 ~~ows~~	0.295	105%
Borrowi~~n~~	~~gs (average)~~	~~214~~ ~~g~~	~~208~~	~~(06)~~	~~(3)%~~
	Proceeds	~~.~~ /Repayment	~~.~~ from borr	~~.~~ owings			0.1 - (0.5)	(0.3) (4.6) (4.9)
Interest R	ate Dividend ~~Net Finan~~	4.44% s Paid ~~cing Cash F~~	7.56% ~~lows~~	3.12	70%
Interest~~Variance due to interest rate increase~~ Interest variance due to borrowings decrease Total Net Increase in Interest Net decrease (increase) in cash held Cash at the Beginning Period Cash at End of Period	~~i i i~~
	~~arance due to nterest rate ncrease~~ ariance due to borrowings decrease Net decrease (increase) in cash held Cash at the Beginning Period Cash at End of Period				~~0.326~~		(2.7) 3.8 1.1	0.3 2.5 2.8
					(0.031)
					0.295

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GLG Corp Ltd Management & Operations Update 31 December 2008

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First Half Review

Focus on cost control Improved relationships with supply base Mervyns liquidation

MCCC settlement

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Trading Conditions

Most US retailers facing declining same store sales compared to the prior year. Substantial cut back in the Asian supply base as firms exit. Opportunities exist with a number of GLG customers

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Outlook & Prospects

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Marketplace

Low consumer confidence leading to declining retail sales with no expectations of a rebound at least until 2010. GLG Corp Ltd Retail Results focus on inventory control adding to the downward pressure on order size. Half-Year Ended 31 December 2005

Solid relationships with key accounts: Macys, Aeropostale, Target, Wal-Mart and HanesBrands.

GK Soh Chief Executive Officer Eu Mun Leong - Chief Financial Officer

6-7 March 2006

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A Global Textile & Apparel Supply Chain Manager
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Sales Bookings and Shipments Update (US$ Million)

Jul – Sep Q1 Oct – Dec Q2 Total Jan- Mar Q3 Apr-Jun Q4 Total Full Year Total	FY08 59.4 53.0 112.4 46.2 50.5 96.7 209.1 Actual Sales	FY09 Remarks 51.9 100% completed for Q1 49.0 100% completed for Q2 100.9 Sales Bookings 49.8Bookings 100% Completed, ~60% Shipped 50.5 Bookings are subject to scale back in quantities and pushback in deliveries by customers. 100.3 201.2 3.8% Decrease on 2008 Actual Sales*

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Cautionary note on forward-looking statements

This presentation may contain statements regarding the business of GLG Corp Limited and its subsidiaries (‘Group’) that are of a forward looking nature and are therefore based on management’s assumptions about future developments.

Such forward looking statements are intended to be identified by words such as ‘believe’, ‘estimate’, ‘intend’, ‘may’, ‘will’, ‘expect’, and ‘project’ and similar expressions as they relate to the Group. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors.

Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. Such factors that may affect GLG Corp’s future financial results are detailed in our prospectus, listed in this presentation, or discussed in today’s press release and in the management discussion and analysis section of the company’s 2008 results report and filings with ASX. The reader and/or listener is cautioned to not unduly reply on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward looking statements.

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Thank You

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