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• Revenue: +24.2% (2Q09), +24.8% (1H09)
• Net Profit: +419.0% (2Q09), +178.9% (1H09)
• Outlook: With the improvement expected in the pulp and paper market, the forest asset will continue to be the Company's most strategic asset and is expected to positively contribute to the Group going forward.
• The Company believes that demand for woodchips will pick up as soon as pulp mills start to ramp up their production.
• The Company is considering to implement the pulp mill project in phases, i.e. by starting with a pulp mill with a smaller annual capacity and potentially upsizing at a later stage to the original planned capacity of 600,000 tonnes.
• In line with the Company's strategy to expand overseas to diversify its exposure from Singapore property market, the Division has established a full branch in Abu Dhabi (UAE) and recently secured its construction commercial license that would enable it to participate in projects in Abu Dhabi.

FINANCIAL RECORDS

Revenue (USD '000)

FY 1Q 2Q 3Q 4Q Total
2009 30,460 38,631
2008 24,260 31,093 27,819 30,613 113,785
2007 17,274 20,128 18,372 27,151 82,925

FY 1H 2H Total
2006 51,319 73,889 125,208
2005 16,340 40,411 56,751
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Earnings (USD '000)

FY 1Q 2Q 3Q 4Q Total
2009 (4,271) 5,610
2008 (601) 1,081 (2,345) (71,290) (73,155)
2007 996 2,349 (1,494) (934) 917

FY 1H 2H Total
2007 3,345 (2,428) 917
2006 832 1,663 2,495
2005 218 240 458
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Dividends

FY Interim Final Special (SGD)
NA
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Bonus / Rights / Stock Split

Date Type Details
2000-06-29 Bonus OFFER OF 1 FOR 2
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Share Data (USD)

NAV = $0.0679
EPS = $0.0005 (6M FY09)
Diluted EPS = $0.0005 (6M FY09)
No of Shares = 2,757,720,421
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA