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• Revenue: -6.1% (4Q09), -4.6% (FY09)
• Net Profit: -3.7% (4Q09), -3.4% (FY09)
• Outlook: Despite signs of an economic recovery and a slight pick-up in the level of corporate capital raising activity particularly in 4Q09, the Group remains cautiously optimistic about its prospects for the year ahead and is positioning itself to meet further challenges ahead in the event of a delayed economic recovery.
• Moving in tandem with the improved market sentiment, the Group will continue with its marketing effort to enlarge its client base in the region and expand its service offerings, while seeking new business opportunities in the region.
• Costs are not expected to reduce significantly on the back of committed overheads.
• Nevertheless, the Group will continue to strive for optimal utilization of its human resources and explore ways to improve its productivity.
• The Group’s investment in its Australia-based associate company, Newreg Pty Limited should continue to contribute positively for the coming financial year.
• Barring any unforeseen circumstances, the Group expects FY10 to be a profitable year.

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 8,235 8,828 8,834 10,037 35,934
2008 8,227 9,721 9,012 10,690 37,650
2007 7,077 8,127 8,083 9,689 32,976
2006 7,017 7,670 7,161 8,978 30,826
2005 4,244 4,160 4,006 6,172 18,582
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 1,969 2,396 2,309 3,260 9,934
2008 1,732 3,084 2,082 3,387 10,285
2007 1,387 2,489 2,081 3,569 9,526
2006 2,026 2,173 1,213 4,955 10,367
2005 966 720 923 1,651 4,260
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Dividends

FY Interim Final Special (SGD)
2009 0.010 0.02000 NA
2008 0.011 0.01900 NA
2007 0.010 0.01800 NA
2006 0.010 0.01800 NA
2005 0.010 0.01600 NA
2004 0.010 0.01925 NA
2003 0.010 0.01900 NA
2002 0.010 0.01700 NA
2001 NA 0.025 NA
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Bonus / Rights / Stock Split

Date Type Details
2005-06-14 Rights OFFER OF 1 FOR 4 @ $0.3
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Share Data (SGD)

NAV = $0.3336
EPS = $0.0540 (12M FY09)
Diluted EPS = $0.0539 (12M FY09)
No of Shares = 183,947,250
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA