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• Revenue: +5% (2Q09), +26% (1H09)
• Net Profit: +5% (2Q09), +20% (1H09)
• Press Release: Revenue increases 26% to S$81.8 million
• 55% rise in revenue from the Group’s Property Development segment
• 193 residential units sold at total sales value of S$177.9 million in H1FY2009
• Balance pre-sale revenue of S$340.7 million to be progressively recognised from Q3FY2009 to FY2011
• Maintains strong cash position of S$126.2 million
• Net gearing improves by 27% to 0.35 times as at June 30, 2009
• Outlook: As of 30 June 2009, the Group has total pre-sale revenue amounting to $417.2 million from the following projects, of which only $76.5 million have been recognised as of 30 June 2009
• The balance amount of pre-sale revenue, ie. $340.7 million will be progressively recognised from Q3FY2009 to FY2011.
• The Group expects its earning in 2009 to continue to benefit from revenue recognition from its pre-sale revenue.
• Barring any unforeseen circumstances, the directors expect the Group to be profitable in 2009.

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 38,064 43,717
2008 23,388 41,748 34,936 29,993 130,065
2007 16,500 25,945 19,614 40,648 102,707
2006 NA NA NA 48,813
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 6,364 9,383
2008 4,148 8,951 8,700 2,892 24,691
2007 2,692 5,020 2,564 9,015 19,291
2006 NA NA NA 4,840
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA 0.0075 NA
2007 NA 0.0100 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (SGD)

NAV = $0.1905
EPS = $0.0247 (6M FY09)
No of Shares = 636,560,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA