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• Revenue: -92.3% (4Q09), -57.1% (FY09)
• Net Profit: NM (4Q09), -56.6% (FY09)
• Press Release: Group achieved RMB10.0 million net profit for FY2009 in a highly difficult operating environment
• Healthy net cash position of RMB158.7 million placed mainly in Singapore bank, representing RMB6.0 cents per share
• Recommends a final tax exempt (one-tier) dividend of 0.02 Singapore cents per ordinary share
• Outlook: The Group had in April 2009 signed a non-binding Memorandum of Understanding with the Singapore national water agency, Public Utilities Board to collaborate on water and wastewater treatment related membrane
  research.
• The Group had also in June 2009 signed an agreement with Sembcorp Industries Ltd to co-develop and testbed new membrane products for wastewater treatment and water reclamation system.
• The Group is excited about these strategic alliances.
• Furthermore, in July 2009, the Group was awarded a maiden contract with Doosan Hydro Technology, Inc (a U.S. based subsidiary of multinational conglomerate, Doosan Heavy Industries & Construction Co., Ltd which is the no 1 desalination facilities manufacturer in the world and a world leader in desalination with a 40% global market share) for the supply of Ultra Filtration membrane products for their water treatment project.
• This is a strong endorsement of Memstar and its products in a highly competitive market place.
• Amidst the global economic slowdown, the Group will continuously and actively seek new business opportunities to expand regionally.

0FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 21,404 10,307 8,822 2,073 42,606
2008 23,363 26,334 22,772 26,923 99,392
2007 16,706 7,049 17,207 19,539 60,501
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 11,711 2,306 1,952 (5,955) 10,014
2008 (18,968) 15,838 12,770 13,454 23,094
2007 12,005 4,164 12,262 12,223 40,664
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Dividends

FY Interim Final Special (SGD)
2009 0.0002 0.0002 NA
2008 NA 0.0002 NA
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Bonus / Rights / Stock Split

Date Type Details
2008-02-21 Stock Consolidation 10 into 1
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Share Data (RMB)

NAV = $0.1269
EPS = $0.0038 (12M FY09)
No of Shares = 2,655,807,337
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA