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• Revenue: -4.14% (3Q11), +4.11% (9M11)
• Net Profit: -1.13% (3Q11), +21.78% (9M11)
  
• Outlook: The domestic economy continues to do well but growth rate is expected to moderate.
• Unemployment rate is low and services and tourism sectors are expected to be the major contributors to GDP in 2011.
• To mitigate rising inflationary pressures, Singapore policy makers have allowed the local currency to strengthen further.
• With that backdrop for the Singapore economy, the capital appreciation of the Group’s properties is expected to be lower than the prior year.
• Group rental income, year-on-year, will be higher due to the contribution of full year rental income from the Sim Lim Square properties and the expected slight increase in rental income from upcoming renewal of existing leases.
• Gold price continues to be volatile and the profit from the business depends significantly on the movement of the gold price.
  
• As the gold price has been increasing over a period of time, the volume of sales has decreased and the profit for the period ended 31 March 2011 was less than the corresponding period in the prior year.
• The apparel business is expected to continue to perform well with higher revenue and profits from the Malaysian stores and stable earnings from the Singapore outlets.
• Contributions from dividends are expected to remain stable as most of the dividends are from Singapore based REITs which have been giving a steady source of income.
• Interest rate is expected to remain low in the near future.
• Barring unforeseen circumstances, the Group should continue to perform well.
  

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2011 19,286 9,683 9,101
2010 17,712 9,361 9,194 10,006 46,573
2009 19,184 10,009 9,285 9,331 47,809
2008 15,668 13,207 8,809 15,506 53,178

FY 1H 2H Total
2007 27,038 21,134 48,172
2006 24,112 18,375 42,487
2005 22,286 16,807 39,093
2004 NA NA 36,094
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2011 5,920 2,955 2,458
2010 4,627 2,193 2,486 6,697 16,002
2009 5,361 1,675 2,785 628 10,449
2008 5,515 3,497 1,628 13,502 24,142

FY 1H 2H Total
2007 11,159 6,038 18,375
2006 4,281 6,232 10,513
2005 5,041 4,984 10,025
2004 NA NA 8,888
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Dividends

FY Interim Final Special (SGD)
2011 NA
2010 NA 0.038 NA
2009 0.035 NA NA
2008 NA 0.0300 NA
2007 NA 0.0286 NA
2006 NA 0.0300 NA
2005 NA 0.0250 NA
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Bonus Issue / Stock Split

Date Type Details
2005-05-19 Bonus 1 WT FOR 2 SH OFFER OF 1 FOR 2
1999-12-09 Bonus OFFER OF 1 FOR 2
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Share Data (SGD)

NAV = $0.3452
EPS = $0.0327 (9M FY11)
Diluted EPS = $0.0321 (9M FY11)
No of Shares = 365,419,219