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• Revenue: -14.8% (4Q09), +4.9% (FY09)
• Net Profit: -89.5% (4Q09), NM (FY09)
• Outlook: Notwithstanding the seemingly improved market sentiments and a growing consensus that the worst is over, the Group's business and trading environment will continue to remain challenging in the new financial year
• The lingering effects of the global credit crisis, particularly on the United States and Europe, will continue to weigh on consumer demand.
• The Group is of the view that any recovery in market demand to be tentative and gradual, and marked by intense price competition and price volatility.
• Against this backdrop, the Group will continue to press forward to further strengthen its operations and continue to have in place prudent measures to manage its business and to maintain its competitiveness.
• Going forward, the Group will focus its efforts on its core businesses of metal recycling and the trading of steel and non-ferrous products.
• The Group will seek to leverage on its extensive market experience and in-depth knowledge and its well entrenched network of supply sources and customers.
• The Group will also keep a lookout for opportunities in metal-related businesses for future growth.

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 101,191 53,941 78,851 83,566 317,549
2008 51,929 60,478 92,190 98,084 302,681

FY 1H 2H Total
2007 141,115 196,746 337,861
2006 51,683 84,339 136,022
2005 58,627 54,124 112,751
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 3,733 (13,597) 3,171 611 (6,028)
2008 2,237 10,923 6,126 5,837 25,123

FY 1H 2H Total
2007 4,398 3,650 8,048
2006 2,230 4,102 6,332
2005 5,189 4,410 9,599
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Dividends

FY Interim Final Special (SGD)
2009 NA NA NA
2008 0.01 0.03 NA
2007 NA 0.0100 NA
2006 NA 0.0065 NA
2005 NA 0.0120 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (SGD)

NAV = $0.1566
EPS = $(0.0172) (12M FY09)
Diluted EPS = $(0.017) (12M FY09)
No of Shares = 351,468,250
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA