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• Revenue: -6.2% (1Q09)
• Net Profit: -45.4% (1Q09)
• Outlook: Excluding territories affected by relatively sizeable natural peril losses during the past year, the global excess of insurance and reinsurance capacities would continue to depress insurance rates and adversely impact profitability of markets generally, despite evidence of sporadic resistance of no great consequence.
• The threat of a prolonged economic downturn and weaker corporate earnings will continue to influence investor sentiment.
• Profitability will depend on the state of the business underwritten as well as the extent of contribution achievable from the investment portfolio in a highly challenging operating environment.

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 15,843
2008 16,889 25,701 20,802 25,906 89,298
2007 17,002 23,108 24,079 21,679 85,868
2006 17.708 19,253 29,692 21,603 88,256
2005 18,448 22,024 19,883 26,527 81,817
2004 19,144 28,891 25,622 29,464 103,121
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 1,975
2008 3,620 1,076 (2,682) (4,932) (2,918)
2007 7,688 8,239 5,496 5,251 26,674
2006 3,703 4,918 4,079 7,763 20,463
2005 3,924 4,526 3,641 5,706 17,797
2004 3,879 2,979 2,957 5,777 15,592
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Dividends

FY Interim Final Special (SGD)
2008 0.006 0.004 NA
2007 0.010 0.008 NA
2006 0.010 0.018 0.003
2005 0.012 0.008 0.01825
2004 0.010 0.010 NA
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Bonus / Rights / Stock Split

Date Type Details
2008-04-30 Bonus OFFER OF 1 FOR 10
2006-04-28 Rights OFFER OF 1 FOR 10 @ $0.21
2003-04-21 Bonus OFFER OF 1 FOR 10
2001-04-12 Stock Split STOCK SPLIT OFFER OF 5 FOR 1
2000-06-21 Bonus OFFER OF 1 FOR 10
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Share Data (SGD)

NAV = $0.2843
EPS = $0.0033 (3M FY09)
No of Shares = 605,220,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA