Base on Q2, 2009 financial report:

• PE = 6.8
• Dividend Yield = 4.8%
• NAV = $0.2546
• Net Earning = 15.6%
• Current Ratio = 4.63
• ROA = 16.1% (Base on 2008 Full Year)
• ROE = 21.4% (base on 2008 Full Year)
• Cash Flow = S$35.8Million (11% increase with reference to 2008 Full Year)

 Stock Background

• 3 years historal high = $1.26
• Current Price = $0.35 (only 27% of 3 years high)

 Intrinsic Value Calculation

• EPS Annual Growth = 15.7% (from 2004A to 2009F)
• Discount Rate = 5%
• Intrinsic Value = $0.87 (60% Discount of Current Price to Intrinsic Value)