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one has to 'zoom' out to look at the big picture of this counter as to where its going.
Looking at the trend, the price action went up and consolidate for a period and now its trending up again so a UP - STAY - UP = UP.
Extracted from the Annual Report 2008
* The percentage of shareholdings was computed based on the issued share capital of the Company as at 16 March 2009 of 452,967,500 shares (which excludes 197,000 shares which are held as treasury shares representing approximately 0.04% of the total number of issued shares excluding treasury shares).
Note:
- Clive Lim Chai Hock and his wife, Michelle Ho Li Ann own in aggregate 92% of the interest in Leap International Pte Ltd. Clive Lim Chai Hock holds a total (direct and deemed) interest in 89,498,000 shares, representing 19.76% of the issued share capital of the Company.
- Michelle Ho Li Ann is the spouse of Clive Lim Chai Hock. Accordingly, Michelle Ho Li Ann is deemed interested in the shares held by Clive Lim Chai Hock.
- STT Communications Ltd ("STTC") is a subsidiary of Singapore Technologies Telemedia Pte Ltd ("STT"), which is a whollyowned subsidiary of Temasek Holdings (Private) Limited ("Temasek"). Temasek and STT are deemed to be intersted in the 228,937,500 shares held by STTC by virtue of Section 7 of the Companies Act (Cap. 50).
- The percentage of shareholdings was computed based on the issued share capital of the Company as at 16 March 2009 of 452,967,500 shares (which excludes 197,000 shares which are held as treasury shares as at that date).
Shar eholding s Held in Hand s of Public
Based on information available to the Company, approximately 29.43% of the issued share capital of the Company listed on the Singapore Exchange Securities Trading Limited, excluding 197,000 shares which are held as treasury shares, were held in the hands of the public. Therefore the Company has complied with Rule 723 of the Listing Manual.
INCOME STATEMENT FOR THE 4TH QUARTER AND FULL YEAR ENDED 31 DECEMBER 2009
STATEMENT OF COMPREHENSIVE INCOME FOR THE 4TH QUARTER AND FULL YEAR ENDED 31 DECEMBER 2009
Review of Performance
A) Revenue
- PCS - Revenue in 4Q2009 was higher than 4Q2008 whereas FY2009 was lower than FY2008. Additional revenue generated from sales of prepaid cards which commenced in end April 2009 was offset by lower sales to a major customer in Singapore and slowdown in demand arising from the weak economy.
- Telecoms - Revenue was lower in 4Q2009 and FY2009 against the same period last year. This was due to lower iDD usage attributable to the intense competitive environment and decrease in contribution from the Malaysian operations.
- Engineering - Revenue was lower in 4Q2009 from Singapore operations. For FY2009, the increase in power supply equipment sales in Indonesia was offset by lower transmission equipment sales in Singapore..
B) Profit Before Taxation (PBT)
- PCS - PBT for 4Q2009 was higher than 4Q2008 due to higher revenue and better margins. PBT for FY2009 was lower compared to last financial year due to lower revenue mitigated by higher margins and lower operating expenses.
- Telecoms - 4Q2009 and FY2009 PBT was lower than the corresponding periods last year. The lower PBT was due to lower revenue and gross margins partially offset by lower operating expenses and a higher share of profits from a jointly-controlled entity.
- Engineering - PBT decreased in 4Q2009 due to lower revenue. In FY2009, although revenue was slightly higher, PBT was lower than last year due to lower margins. There were also unrealized exchange losses in 4Q2009 & FY2009 as compared to unrealized exchange gain in the same periods last year.
Prospects
Economic recovery for 2010 remains uncertain, but we believe that this recovery in 4Q2009 will continue into 1Q2010. Based on the current outlook and barring any unforeseen circumstances, the Group expects 1QFY2010 operating performance to improve over the same period last year.
The Group's 3 businesses should benefit from increased customer spending. Growth will come from expanding their product range and value added services, as well as leveraging on opportunities from the Next Generation National Broadband Network. The Group will also intensify its activities to invest in opportunities both locally and regionally while continuing its productivity improvement activities.
This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, and governmental and public policy changes. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.
Balance Sheet
