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• Revenue: +0.2% (2Q09), -0.3% (1H09)
• Net Profit: +21.1% (2Q09), +11.0% (1H09)
• Press Release: Operating Revenue At S$532 Million
• EBITDA Rose 10% To S$161 Million
• EPS Increased 21% To 4.5 Cents Per Share
• Declares Interim Dividend Of 4.5 Cents Per Share
• Outlook: The Group is implementing the next generation network rollout plans with its newly established subsidiary, Nucleus Connect.
• However, this initiative is not expected to have a material financial impact on the Group’s overall financial performance in 2009.
• The broadcast rights for the next 3 year season 2010/2012 of the Barclay Premier League is scheduled for bidding in the 3rd quarter of the year.
• Regardless of the outcome, it will have no impact on 2009 results.
• Based on the current outlook, we expect the Group’s 2009 service revenue to be maintained at around the 2008 level, and its 2009 Blended EBITDA margin on service revenue to be around 32%.
• 2009 capex payment is expected not to exceed 11% of overall operating revenue.
• In view of the expected profitability and cash flow in 2009, the Group maintains its dividend guidance to pay a minimum annual cash dividend for FY2009 at 4.5 cents per ordinary share per quarter, totaling 18.0 cents for the full year.

FINANCIAL RECORDS

Revenue (SGD MILLIONS)

FY 1Q 2Q 3Q 4Q Total
2009 530.6 532.4
2008 534.9 531.4 524.6 536.7 2,127.6
2007 472.7 489.1 513.1 538.8 2,013.7
2006 426.8 444.2 460.6 473.2 1,804.8
2005 374.8 382.6 398.3 415.1 1,570.7
2004 324.1 330.4 339.6 361.1 1,355.2
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Earnings (SGD MILLIONS)

FY 1Q 2Q 3Q 4Q Total
2009 82.5 77.8
2008 80.1 64.2 79.5 87.4 311.3
2007 70.0 80.8 81.3 98.3 330.3
2006 61.4 75.7 81.4 141.7 360.2
2005 30.4 52.7 65.1 73.3 221.4
2004 (36.2) (10.4) (1.4) (6.7) (54.7)
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Dividends

FY 1Q 2Q 3Q Final Special (SGD)
2009 0.045 0.045
2008 0.045 0.045 0.045 0.045 NA
2007 0.035 0.040 0.040 0.045 NA
2006 0.025 0.025 0.030 0.035 NA
2005 NA 0.040 0.025 0.025 NA
2004 NA NA NA NA NA
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Bonus / Rights / Stock Split

Date Type Details
2007-06-27 Share Cancellation PER CANCEL SH SGD 2.86
2006-09-01 Share Cancellation PER CANCEL SH SGD 2.13
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Share Data (SGD)

NAV = $0.688
EPS = $0.0937 (6M FY09)
Diluted EPS = $0.0932 (6M FY09)
No of Shares = 1,711,793,834
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA